For the first time in the recent history of Bulgaria, society has to turn to the behavioral model of physical desocialization. The new situation is forcing businesses to quickly rely on new solutions and innovative behavior to respond adequately in the changing context.

In emergency situations, customer habits and needs change. Brands need to adjust to human needs at the right moment and be useful - in sync with the customer journey. Seen through the lens of opportunity - brands are at the right time to disrupt old business models and implement new ones. We also have the ultimate examples of 2003 during the SARS syndrome - the year we will remember with the creation of iconic e-commerce businesses in China, the boom for Alibaba and its evolution from a B2B directory to an e-commerce superpower.

The world isolates at home to protect itself. Out-of-home entertainment is now prohibited. The movie industry predicts huge losses - the premieres of long-awaited titles such as James Bond, Mulan, Peter Rabbit 2, etc. have been postponed worldwide. Events of all kinds - educational, commercial, sports and entertainment - have been stopped.

With the postponement of the European Football Championship, it remains to be seen whether the Olympic Games and other upcoming sporting events will be rescheduled and the budgets allocated to channels and campaigns better targeted to the situation.

The biggest blow is taken by tourism, transportation and retail industries. Now, growth forecasts are in favor of services and online consumption, which will require quick and innovative measures in the period.

James McDonald, WARC Data’s managing editor, told CNBC that a major disruption from coronavirus could lead to long-term restrictions on movement and large gatherings.  "This would affect advertising costs in areas such as cinema, the out-of-home advertising market. If people spend more time at home, they would spend more time on streaming services, social media and mobile games, which can lead to increased investment in ads,” explained McDonald.

Restaurants, clubs and bars are closed. Businesses are looking for a solution to staying in touch with their customers. The strict measures require a new way of thinking and innovation so that life can keep pace in a crisis. Expectations for growth in online commerce also imply innovations in supply, package deals and loyalty programs.

While the outdoor entertainment industry is in turmoil, home entertainment is thriving. In addition to news, viewers are also keen on the entertainment and documentary genres. The thirst for awareness remains a major attraction.

In the situation of force majeure, the role of bTV as a broadcaster and a source of timely and reliable news and current affairs shows is especially important for the Bulgarian society. The interest in news content – newscasts, current affairs shows, emergency studios - is, of course, growing. On March 16, the central bTV News edition was viewed by 1,262,000 viewers, or 43.6% of all before the TV screens.

Since the announcement of the state of emergency in Bulgaria on Saturday, March 14, news consumption and sharing have seen a huge increase in social media. It is also the space with the greatest access to a wide audience, in informal communication and public discussion, as well as an appropriate channel for influencing and communicating brands, through news media platforms. Creating additional content for these channels is a timely and useful measure.

We already see good examples of adapting the brand messages on the Bulgarian market to the period of quarantine. The declaration of desire and commitment to maintain health and to impose the necessary discipline, as well as to encourage fun at home, will be paid in loyalty to the brand.

Rapid response and adaptation to the new environment was shown by a variety of business ventures, such as telecommunications companies, financial institutions, sports complexes that already offer video classes, educational platforms with free access and commodity delivery companies - with a guaranteed lack of health risk and unwanted, at the moment, contact.

Adjust media investments based on moods and expectations of consumers

In recommendations for business and brands, WARC experts advise to keep television communication consistent with high demand. Television remains the main and most influential source of information in society, globally. Audience attention is turned to screens to compensate for physical communication.

In addition, the recommendation is to enhance the digital presence - through communication in news sites and national media with a full mix of channels - radio, television, digital and print. Paying attention to the forms - short and long video format.

Directions to companies' communications policy relate to considering the consumer journey in the new situation. Brand portfolio matching is also a feasible measure - if it contains multiple brands, it would be more beneficial to concentrate on those that are better known to the public and in line with current consumer needs, say Publicis Group Bulgaria.

In the case of implementation of new brands, product upgrades, rebranding - experts advise deferring or carefully refining them according to the consumer journey and its needs - how the new products would be useful to the public in times of the new situation.

How brands are doing under the new conditions will have a strong impact on consumer views beyond. The brand values ​​and how it could serve are the focus, along with the approach to protecting one's talents and partners. Creating flexible schedules and being able to work from home is a key message that companies send to the world. Limiting meetings and travel is a sensible measure that sends the right message to the world - business is important, and human life is more so.

The period is suitable for the development of tailor-made, loyal programs and optimization of services. Now is the time for the creative industry, in the face of advertising agencies, to assist their partners in creating innovative and hands-on programs, in retaining and attracting the trust of already created and desired users. "Your ultimate goal should not be just how to make money; you should aim to create value for consumers. At this point in time, it's not about what the company can do to remain profitable, but what the company can do for consumers to satisfy their needs,” according to Hugo Chan, chief innovation officer at WE Marketing Group and managing partner of WE Digital.

In many ways, our lives will change - now is the time to remain calm, to take care of ourselves and others, and to be mutually beneficial. Every crisis is also an opportunity. Be healthy and keep innovating!

Sources:

https://www.axios.com/movie-industry-china-coronavirus-0b573c57-f9ac-44c8-b090-bfc610d00b6c.html

https://www.adweek.com/agencies/how-the-coronavirus-is-disrupting-the-global-advertising-industry/

https://www.adnews.com.au/news/the-coronavirus-and-the-advertising-industry

https://www.warc.com/newsandopinion/opinion/how-to-adapt-your-strategy-during-the-coronavirus-lockdown--and-what-to-anticipate-after-the-crisis-is-over/3409

https://lnkd.in/gb8aJYT