Why it matters
Many financial-services brands are facing a clear pressure on marketing budgets due to COVID-19, as customers who do not usually struggle to make repayments are plunged into uncertainty. Reinvesting funds from more traditional marketing activities to tackle these problems could be a way to build equity for the long term.
Takeaways
- Providing demonstrable support for consumers during tough times is a means to demonstrate a brand’s principles in action.
- Updating rewards and loyalty programs to reflect the specific challenges of COVID-19 could be a valuable strategy for brands as they seek to solve consumer painpoints.
- Partnering with...