Some 68% of respondents, who participated in a study conducted from among over 1,000 global chief marketing officers (CMOs), said empathy and transparency were more critical for brand success than innovation.
The survey by Wipro and Designit (a Wipro company) was carried out to understand how brands and their CMOs responded to the global pandemic and what were the strategies they adopted to build momentum towards recovery.
Though every CMO responded differently to the crises, the study identified three distinct personality traits:
The Progressive – roughly 60% – dopted bold and innovative tactics, but based their decisions on past experiences; The Traditionalist- some 31% – favoured the tried and tested methodologies to reach customers, and 9% of CMOs who identified under The Disruptor class avoided conventional tactics and adopted radical new strategies in the face of uncertainty.
A majority of CMOs also felt empathy and transparency were more critical for brand success than technology and innovation in times of crisis.
“Over the last 18 months, brands have had to react to unforeseen global changes. Brands that changed strategy quickly and put the human experience before commercial gains thrived the most,” said Sunil Karkera, global managing director, Designit.
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