May 6, 2020

How will we evolve out of this crisis?

“I don’t think it’s going to be a smooth transition. People talk about the new normal. I don’t think there’s going to be a new normal. There’s going to be lots of next normals and it’s going to be crucial for brands to adjust...nothing is going to be binary.”
- Fiona Carter, AT&T Chief Brand Officer

Let's Define our "next normal" together!
According to a recent report from NewsCred, 42% of companies surveyed said their marketing team "lacked the bandwidth" to quickly create new content to fit shifting priorities during the COVID-19 crisis.
Meanwhile, 41% said they're realigning budget for new initiatives.78% said they plan to increase or significantly increase budget for virtual events

72% plan to increase spending on web content
67% are putting money toward webinars
88% are decreasing or significantly decreasing in-person event spending
34% are scaling back direct mail outreach
27% are cutting digital advertising spend

How do you stack up? These numbers are consistent with what we’re hearing from you. We're going digital friends – and quickly! Albeit due to an unforeseen event, banks now have the mandate to provide a totally digital experience for their customers – consumer and corporate. Now it’s up to us to deliver.  
As we move through a crisis response stage that Forrester defines as “Adapt and Overcome”, data and analysis is driving the re-prioritization of your target markets, marketing mix, budgets and strategic plans. You’re refining your brand presence and messaging. You’re accelerating the move to a digital organization, too, adopting agility as you relearn and respond to changes. We look forward to working with you to take marketing to the next normal. 
Thank you for telling us your stories so we can share them in our community. This week, we heard about one bank’s marketing team that thought well outside the box to create a program that engaged clients and their community. Here it is.

One of the most creative programs you shared this week was a ‘virtual donation event’. Diverting planned marketing dollars, this team created an event that invited clients to engage with them and contribute to a greater good – the medical community. Every time a client logs in to a bank-hosted virtual event, the team donates bags of ‘necessities’ to doctors and nurses residing in local hotels. This is a creative way to incentivize clients to engage with your programs and contribute to those in the greatest need! Way to go, marketers!

As we move into our next normal, STAYING 'n TOUCH will bring you stories of creativity and innovation. We’ll provide you with questions and frameworks to evaluate your own organization's pivot to digital. Together, we’ll shape our future.
In this edition, CFG friend and marketing leadership guru, Thomas Barta challenges us to write the story of 2020. Try it at your next team meeting!

Miss our previous editions of STAYING 'n TOUCH? 

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This week's

Complete this sentence about the future


It all started in 2020. The world was just beginning to grapple with a pandemic. Shops and schools had to close. Events were cancelled. Firms asked people to work from home. Global travel ground to a halt. People had to completely change the way they worked, interacted, and connected.

This was the advent of …

, a completely new way of …

, by …

Even as things gradually went back to normal, the innovation was there to stay.

Innovation happens through creative accumulation. That’s continuous improvement based on research and experience. Or it happens through creative destruction, in response to uncertainty or crisis.

Creative accumulation leads to better things. Creative destruction leads to new things. One isn’t better than the other. Both innovations matter.

Is now the time for yours?

Thomas Barta will join CFG in a virtual event this summer bringing his perspectives on the shape of marketing to come and how  you can lead through the transition.
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