MARKETING
Guiding Your Business Through Elections And The Pandemic
By Denis Mbau
On average , data from the Kenya National Bureau of Statistics ( KNBS ) shows that 46 per cent of new businesses in Kenya fold in less than one year . More than double that do not survive to see their third birthday , signaling a tough business environment .
The Covid-19 pandemic has not only led to a high loss of human life but millions of people are at risk of falling into extreme poverty due to loss of livelihoods as more businesses shut down . Furthermore , election years in Kenya are generally tough for business . Elections are an important area of risk analysis for corporations and investors , often referred to as “ country risk ”, because of their previous results and effects on the economy . Usually , sales plummet as customers and investors adopt a wait and see approach .
However , many businesses have continued to thrive through the pandemic and borrowing a leaf from them would give a lifeline to many entities to remain dutifully firm and unwavering while maximizing profits .
Despite the negative effects of elections on businesses and the economy at large , brands have to keep the market engaged with their products and services . Marketing is critical in developing ties between clients and the businesses that provide services to them . The elections make it even more essential to maintain core customers because it might be harder to bring in new ones . Social media provides your business with this opportunity as more people are spending more time than ever online .
An organization ’ s success is directly determined by the prudent investment in the relationship with the customers . This means understanding the target audience even over the services and products you provide . You should therefore aim to provide them with relevant information during the election season . Think about their biggest worries , threats , and challenges and what can your brand do to assist them in overcoming those obstacles . It builds reputation and a sense of identity when your customers and prospective customers know that you think about them , especially during times of tension and uncertainty .
If a brand is to remain steadfast during the election period , then its marketing team must understand that it is not the best time to launch a new campaign , product , or service . As election excitement reaches a fever pitch , you risk blowing critical advertising revenue by interacting with an audience that is preoccupied with current events . It is best to wait for the political dust to settle and choose a strategic time to do a launch if the goals and objectives of the same are to be achieved . However , if you have to market , understand that getting attention during election season will be increasingly challenging . It ’ s time to change your plan , prepare for the realities of advertising in a time when attention is short and political message prevails .
It is often wise that brands should avoid engaging in politics . However , things have changed in recent years where brands directly endorse a certain candidate . With so many variables on the line , maintaining your organization ’ s neutrality is the best road to take . During this period , your top interest should be to protect your brand ’ s reputation . If you have to be involved , it should be in advocacy for peace , unity and transparency during the process .
Neutrality can protect a brand from being dragged into political murkiness . For example , figures from the Communications Authority shows that during the 2017 general elections , Safaricom , Kenya ’ s largest telecoms operator , lost 8 percent of subscriber market share in the quarter ending December 2017 after opposition leader Raila Odinga called for its boycott , alongside Bidco Kenya and Brookside . The companies were accused of interference in the results of the presidential election . Employees are a company ’ s greatest asset that deserve protection during election downturns . Ensure extensive support and investment in your team so that they can effectively contribute their skills , ideas and energy to their work despite the many distractions . Allow them to vote and build a reputation of a brand that respects civic , democratic and overall employee rights .
Lastly , brands should understand that because of differing political opinions , most elections might be highly controversial and potentially toxic . Everyone has an opinion about parties and candidates , from employees to suppliers , customers to clients , family to friends . If you must communicate , do it in a way that is good , uplifting , and eventually contributes to the country ’ s national spirit of peace , love , and unity . ■
Denis Mbau is a corporate communications and media expert working in multiple sectors , helping organizations communicate effectively through strategy to enhance impact . Commune with him via email at : Mbaud2010 @ gmail . com .
30
MAL 46 / 22 ISSUE