The Great Economic Reset: Forecasting Brand Growth Strategies for 2021
History can be a great indicator of what could happen in the future. By looking at what occurred following the market crash of 1929 and/or the Cuban Missile Crisis, we can anticipate how society will prioritize spending and how brands can improve consumer confidence. So what do brands do now and then what happens next? Let’s explore the possibilities and create a plan for future growth. Tune in.
In this episode of the “Digital Mark My Path” series, Michael Winn, Chief Digital Officer at RB Oppenheim Associates, discusses strategies for navigating the economic reset in 2021. He draws parallels between the Great Depression of 1929 and the current situation, noting significant market drops and changing consumer behavior as people prioritize necessities. As businesses face high unemployment rates and financial strain, they must rethink their hiring processes and online presence, ensure compliance with accessibility standards. Wynn emphasizes the importance of creating authentic connections with audiences through engaging content and effective digital marketing strategies. He encourages brands to adapt by focusing on essential needs rather than luxury items and to leverage digital platforms for cost-effective advertising. Ultimately, businesses should aim to become integral to consumers’ lives, ensuring they provide necessary products and services while maximizing their digital outreach.