The current pandemic affects different industries and businesses in different ways; CMOs should base their priorities and budget decisions on their company’s situation, current and likely resources, and customer needs.
Accurately assessing your “mode” can help you prioritize now and plan for opportunities post-COVID-19: Assess if you’re struggling (survival mode), adapting (adaptive mode), or hoping to lead and grow (growth mode) during this time.
This crisis has unique effects compared with previous recessions; your old playbook for managing in a downturn might offer good starting points, but don’t just repeat former practices.