In July, we wrote about planning for the “new normal.” For this post, we discuss a marketing reset framework. And highlight an excellent Gartner video.
With the new normal post, we included this insightful McKinsey chart.
The Three Stages of a Marketing Reset Framework
Organizations continue to adapt marketing efforts in the wake of COVID-19. However, the path to recovery is not linear. Thus, CMOs (chief marketing officers) must navigate an unpredictable business environment. As well as address uncertain customer behavior and budget cuts. In the video that follows, learn how to navigate recovery with the Gartner Reset Framework.
- Respond. In this phase, marketers focus on operational continuity and survival. They may make immediate cuts to current marketing investments. And also identify areas of cost savings and optimization.
- Recover. As marketers begin to recover, they focus their attention on customer retention over acquisition. They continue to rationalize marketing spend. In addition, they assess digital marketing efforts for effectiveness.
- Renew. In this last phase, marketers look to the horizon. Therefore, they return their focus on business growth objectives. They redefine their marketing strategy. And rethink what it means to market to customers in a post-pandemic future.
With the preceding in mind, watch a video synopsis of the framework.