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New Financial Year, New Beginnings, New You!

Oh what a year this has been! The year of adjustments, improvisations, learning and so much more, for us as individuals as well as for brands. The Coronavirus pandemic caused massive disruptions in all the sectors, forcing brands to adjust and find newer ways to stay connected with customers. Some hit the bullseye while others are still finding their feet. The financial year 2021 – 22, will be no different.

So while we move to the next financial year, let’s do so being equipped with lessons from the year gone by. Afterall, we are all in a moment of transition and understanding our customers and aligning your brand with their thoughts is the key to success in the upcoming year.

According to a consumer survey conducted by Deloitte, almost four in five people could cite a time when a brand responded positively to the pandemic and one in five strongly agreed​ that​ it led to increased brand loyalty from their part. Hence, it is imperative for brands to adopt a holistic viewpoint and meet human needs in these trying times.

Now, let’s work how can we as brand custodians, walk the talk and make this the year of your brand. But first, let’s learn from the year gone by.

Here are 3 take​-​away from those who made 2020 – 21 a success

The successful brands collaborated wisely and made the most of every opportunity and penny. They gained a wider and diverse audience as they embraced new approaches.

They planned for a longer run, even if it meant having only skeletal ideas. This ensured quick switching of ideas and plans depending on what worked and what didn’t.

A common error made by a lot of marketers, successful brands never lost vision of the long-term. They continued to concentrate on the journey of transforming a passer-by into a consumer and then, a loyalist.

Now, let us take a look at 5 trends that brands must adopt to sustain themselves in 2021 – 22

Plan short-term, plan long-term, plan for everything

As a brand, you need to know what are the plans for this year and how does this play into the long-term vision of the organisation. Too many organisations jumped into a 100% digital mode in the last financial year, without realising that they may be disengaging with loyal clients who still like to see everything on paper.

Understand your customers and their feelings

As this year brought disengagement of a kind, from the world, a lot of brands started engaging on what they think they wanted to communicate rather than what the consumers wanted to hear. Engage with your consumers, understand their needs and their feelings; and connect with them rather than expecting them to connect with whatever you wish to communicate.

Be swift, not irrational

There is a fine line between being quick on your toes and being rash with your decisions. So be quick and make the most of opportunities that present to you but never forget about the long-term implications of your actions.

Converse with your clients, don’t go out there with a loudspeaker

Communication services will gain greater traction, and as a successful brand, you should engage customers in conversational communication to drive loyalty.

Collaborate wisely

Engage with partners that understand you and your customers. After all, just being great for someone, doesn’t mean they would be perfect for you.

The new financial year is bound to see a clear shift in brand design trends towards personalization and connection. This human side of brands has utmost relevance now. The brand-customer relationship has transcended from mere transactions to an emotional connect. Knowing, understanding and acting on this is what will help your brand to successfully sail in the New Financial Year.​

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