WHAT DOES COVID – 19 MEAN FOR BRANDS ON SOCIAL MEDIA? – AN OGLIVY REPORT

Must Read

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...
- Advertisement -

It’s no news that the corona virus disease 2019 (Covid-19) that was first chronicled in Wuhan, China is playing a monstrous role in the global economy. One of which represents a stimulus that has greatly influenced the decisions of brands. In this report, Oglivy takes a look at what brands can do especially on social media to engage with their consumers.

As the virus continues to spread its dangerous wings across the world, global economy also lingers on in desolation. The worrisome pestilence which broke out shortly after the looming of a Third World War has effectuated unprecedented decline in the economies of many countries. Many multinational companies have registered plummets in the stock markets. While some brands have employed lenity with their consumers in terms of the prices of goods, some have pulled some strings by skyrocketing the prices of their products.

In light of the effect of covid-19 on global economy, many brands have started taking steps to forestall their businesses from coming to a naught. One of the steps is by increasing the prices paid for their products and services. This has however not gone down well with consumers, as they (consumers) see it as getting benefit from the situation and has been subjected to obloquies from different angles. While some brands may have employed the exploitative mechanism with the aim of cashing in on or extorting their consumers, some are innocently grasping at straws.

The avariciousness of the fast spreading virus has in no doubt caused many businesses to go downhill. It has made the International capital markets take a knock and companies like: Sydney’s S&P/ASX 200, Topix, S&P 500, FTSE, etc., have recorded some losses.

Read Also:  Cross River awards N1.16bn Banana Farm contract
- Advertisement -

Given the dismal situation, it is imperative that brands make conscious efforts which could proffer panacea to the problems and equally improve their sales.

The recommended remedies include: avoiding being opportunistic, ensuring transparency in their dealings with consumers, promotion of virtual platforms or markets since social distancing is recommended by WHO to help prevent the spread of the virus, paying optimum attention to the need of consumers, maintaining an accessible platform that will promote the brand-consumer relationship, taking philantrophic steps, and consideration of the means to make them a reality.

Some companies especially the ‘Tech’ companies have risen to the occasion by taking action that can help remedy the situation. Facebook, Google and others are doing things like banning ads that seek to capitalize off the pandemic, aiding the dissemination of credible information and making financial contributions.the spread of reliable. Instagram and YouTube through their channels help ensure that people have easy access to the WHO website. Facebook particularly donated a whooping sum $10 million to help WHO start a COVID-19 Solidarity response fund.

Read Also:  6.5m Nigerians activate DND code to stop unsolicited SMS

In conclusion, the governments of many countries are taking laudable steps in an attempt at inhibiting the spread of the covid-19 plague and mitigating the economic hardship that it may pose. In order to help contain the vicious cycle of the epidemic, brands also have significant and indispensable role to play. Although the ravenous effect of the cosmopolitan virus cannot be undermined, brands must know that it’s not the appropriate time to be opportunistic as it is a bleak situation for everyone. The failure of brands in global economy to embrace the aforementioned remedies may exacerbate the current situation.

- Advertisement -

Download the report here

- Advertisement -
WHAT DOES COVID - 19 MEAN FOR BRANDS ON SOCIAL MEDIA? - AN OGLIVY REPORT - Brand SpurWHAT DOES COVID - 19 MEAN FOR BRANDS ON SOCIAL MEDIA? - AN OGLIVY REPORT - Brand Spur

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

WHAT DOES COVID - 19 MEAN FOR BRANDS ON SOCIAL MEDIA? - AN OGLIVY REPORT - Brand SpurWHAT DOES COVID - 19 MEAN FOR BRANDS ON SOCIAL MEDIA? - AN OGLIVY REPORT - Brand Spur

Latest News

Webb Fontaine Appoints New CEO

DUBAI, United Arab Emirates - EQS Newswire - 30 September 2020 - Webb Fontaine today announced that Alioune Ciss has...

COMAT launches 47 new IT courses, training grants available for Singapore Citizens & PR

SINGAPORE - Media OutReach - 29 September 2020 - The economic impact of COVID-19 has pushed unemployment rates to the nation's highest in more than a decade and is expected to climb...

Pak Hong Rehab Products Centre launches lightweight electric wheelchairs with thicker and safer front wheels

HONG KONG, CHINA - Media OutReach - 29 September 2020 - Renowned for multiple professional qualifications and internationally accredited products, Pak Hong Rehab Products Centre (hereafter Pak Hong) exclusively launches two electric wheelchairs,...

Lagos Ready To Deliver 4th Mainland Bridge – Sanwo-Olu (Photos)

A major step towards the realisation of the 4th Mainland Bridge was today, taken by the State Government with the first stakeholders meeting on...

FrieslandCampina WAMCO completes purchase of Nutricima’s dairy business.

The acquisition provides FrieslandCampina WAMCO with additional production capacity to meet the growing demand for locally produced evaporated milk and powder milk. In addition,...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -WHAT DOES COVID - 19 MEAN FOR BRANDS ON SOCIAL MEDIA? - AN OGLIVY REPORT - Brand SpurWHAT DOES COVID - 19 MEAN FOR BRANDS ON SOCIAL MEDIA? - AN OGLIVY REPORT - Brand Spur