Evaluate long-term costs of growth goals amid the pandemic

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 16, 2020, 1:53 AM UTC

Marketers must consider the current and future economic impact of the pandemic.

This article states how businesses can, amid the pandemic, adapt to changing customer relationships. Businesses must evaluate the long-term costs of growth goals, both financially and reputation-wise.  

The article recommends focusing on expanding and building loyalty with existing customers rather than tapping into new client bases at such times. Efforts towards operational excellence must be based on customer-centricity, with every decision and outcome having a customer-focused outcome in mind.

Marketers must strive to have immediate access to data-driven insights that can let a business adapt its processes and satisfy consumers in challenging environments in such a way that it boosts retention and loyalty. Keeping a finger on customer pulse lets businesses track evolving patterns of behaviour.

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