How Can Marketers Address Rising Inflation?

As inflation continues to rise, how will it affect communication and marketing professionals in the months ahead?
Although the pandemic triggered rising inflation, there are several persistent factors that might see inflation continue. These include labor challenges, deglobalization, transition to renewables, and declining work in cities.
Inflationary markets make it harder for businesses to hit their volume targets which can lead to decisions that can hurt your company brand like raising prices followed by a fall in demand.
3 Tips On How Marketers Can Combat Inflation
In order to deal with inflation strategically, marketers are going to have to be flexible and get creative when it comes to pricing, promotions, and planning targets.
1. Focus On the Overall Economy
Be aware of the market your customers are operating in. Keep a close eye on inflation, GDP growth, interest rates, and the kind of disposable income others businesses are operating with. Everyone on the marketing team should be aware of these trends so they can design pricing and promotions accordingly.
2. Rethink Your Customer
Your clients are now pandemic, inflation-stricken customers. You’ll want to examine how your customers are reacting to price increases, even those with roughly the same disposable income. Redefining how your customers are behaving under the current economy can help you develop strategic pricing schemes.
3. Prices Online
During other periods of inflation, the digital marketplace was not as accessible as it is now so there is no precedence for how consumers will react. But now consumers are able to compare prices on goods and services at any time. Here there is the danger of raising prices too soon when your competitors don’t. 
Although there might be an opportunity to create increased value online. If a company decides to raise its online prices, it may be able to justify the increase by offering customizations like increased speed and convenience.