Five Steps Given the new landscape and the developing level engagement with products and value is situation, now is the time for marketers to take required; shifting product/market fit to suit a step back and understand the steps they need the new conditions and implementing MarTech to take to defend their position and set their solutions that anchor it in fluctuating consumer companies up to rebound. We have identified sentiment in real time will be the primary lever five steps that CMOs should work through during this stage. to put their companies in the best possible position. The next priority is to set your team up for operational success by collaborating across In this initial, acute period of the crisis, functions and teams, connecting with emphasis should be placed on creating space stakeholders, and implementing solutions that for the company. This includes a full review will enable you to accelerate growth and move of activities, campaigns, communications, with agility. Finally, it’s time to plan for the and spend, before quickly moving to invest future and make strategic investments in the into potential areas for growth. After the capabilities you’ll need for a strong rebound. critical issues have been addressed, a higher 01 CREATE SPACE As a CMO, you will have already made major and performance marketing have been the best adjustments to your current operations. solutions for audience engagement. Many of the campaigns and strategies that were signed-off before the crisis are unlikely Finally, although it’s likely you’ll currently to remain relevant, and we’ve already seen be hyper aware of budget due to market entire programs paused or pulled completely. conditions, creating space does not mean New plans will have to be drawn up that cutting spending completely. During difficult acknowledge the new market landscape and, in economic conditions many companies limit, some cases, physical restrictions on product or pause, or cancel strategic investments, a sales. category which includes digital capabilities and necessary MarTech tools. However, right now Beyond the content of new campaigns, the understanding customer behavior in as much product or offering they focus on and the detail as possible is imperative to success, messaging they use, attention should also be so smart investments in MarTech and other paid to channel strategy. A new approach to capabilities that will help you respond and reaching customers is also likely to be required, rebound to the crisis should not be put off. and with advertising platforms seeing pricing fluctuations, drafting a new strategy that takes Stop What's Broken into account these developments and reviews the most relevant channels will enable you to In the immediate period following the outbreak, gain traction at minimum cost. So far, email there was a lull in advertising as companies