KEN BANKS’ BLOG JULY/AUGUST 2020

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REASONS TO BE OPTIMISTIC!

As we enter the sixth month of dealing with the COVID19 pandemic as well as civil and political unrest around the country, I thought it would be good to reflect on what we are learning and share a couple of reports that gave me cause for optimism during these trying times.

First, some things that I think we’ve learned from the pandemic as it has affected our branding and marketing efforts:

  1. Retail will never be the same.  Of course, we continue to read on a weekly basis about store closings and bankruptcies and that’s no surprise.  Marketing experts and academics have been saying for years that “mediocre retailers with real unique reason for being struggle to survive.’  As we have read the reports of national chains with high brand awareness (not pertinence), I doubt that many of us consumers have been surprised or really disappointed that these store fronts have been shuttered for good.  We won’t miss them.  As we drive by the local shopping and strip centers and notice the vacant windows and whited-out signs of hundreds of local small business entrepreneurs who simply couldn’t survive the quarantines and social distancing mandates for more than a few weeks.  More will surely follow as they never built a relationship with their not-so-loyal customers.
  2. Online and internet shopping will continue to grow.  Amazon and all the other online marketers had a significant effect on shopping prior to the pandemic.  The inability or desire to shop in person has given many previously hesitant shoppers to the internet to give it a try and most have found it a beneficial alternative.  Convenience in shopping has been one of the key brand attributes for many years.  Now, consumers have discovered that not only is online shopping convenient but it’s easier, trustworthy, well-communicated, and cost effective. Our experience with Walmart pick-up and ordering online has been remarkable and many other stores that we have preferred to shop personally have quickly and effectively demonstrated that customer service doesn’t have to be in person to be satisfying and loyalty building.
  3. Advertising is changing.  Our local newspaper has reduced its print distribution to two days a week with online issues every day.  I’ve always been a habitual print newspaper reader, but I find that having online capability works and is convenient.  The print advertisers who used sale circulars as their main promotional medium have been forced or have chosen to abandon that vehicle in favor of broadcast, online and other social media to reach their customers and have found that sale ads were more of a habit than a promotional sales stimulant.  Those who have had effective branding messages continue to do business despite the pandemic and continue to market themselves with messages that really reach the heart and mind of today’s beleaguered consumer.
  4. Pay it forward.  In view of the discord we are experiencing in our cities, we should not lose hope and we should find ways to reach out and offer programs of love and understanding to our communities.  Here is a feature from CBS Sunday Morning a couple weeks ago about the We Care program in Shreveport, LA, that demonstrates that communities that reach out beyond racial and economic barriers can improve the quality of life and avoid the civil unrest that plagues our country.  Pioneered by a local pastor, Mack McCarter, the We Care program has grown neighborhood-by-neighborhood to the point that it has spread this feeling of love and understanding across economic and racial borders and had made a differenceI urge you to watch this to see how much more effective this can be versus the rioting, government forces, and political shouting that have brought distress to our country.  Click on the link below to watch. 
  5. WE CARE VIDEO:  https://youtu.be/QQ6CK6kJIV0  
  6. Broaden our perspective.  Our country has been dominated by int. ense competition.  This has been true in the marketplace and it’s time to cooperate to help solve the issues facing us.  It appears that the large tech companies are recognizing this now, but political leaders are attacking successful businesses from all sides.  This is a result, I believe, because of our antiquated two-party system that fosters one party or the other, black or white, north or south, male or female, straight or gay, and so on.  Again, on CBS Sunday Morning there was an interesting interview with Comedy central’s Daily Show host, Trevor Noah.  The comedian has succeeded well beyond his black, South African roots to continue the success of this program.  In the interview, with CBS’ Jim Axelrod, Noah’s comments about America being a Two-Sided society that fails to understand the nuances between different points of view and social upbringing is really on target for understanding the turmoil in our country.  This is particularly true of our political and governmental wrangling that, I believe, is having a lasting, detrimental effect on our society and our position in the world community.  I hope you’ll watch the attached interview in its entirety as it provides an interesting perspective.

TREVOR NOAH VIDEO.  https://youtu.be/aJifPiLIwv8

Thanks for viewing this month.  I wish you well and hope that you are safe and unaffected by the challenges facing us today.