Your COVID-19 Battle Plan - Part 2/2
Getting strategy right in recession communications - this is a summary of an article which published by B & T. For the full article, please click here
The History Of Advertising In A Recession
Income for seven to 10 people has already or will be affected by COVID-19, writes Kunal Gupta, CEO of digital media technology service Polar. Gupta also notes IAB data which says 24% of all brands have paused ad spend for Q2, and Marketing Week research that found a 33% decrease on social media ad spend and 30% decrease on search spend in March and April. So the picture is bleak, and we’ve already heard why staying silent is not a good idea. Kantar even estimates that brands that cease communications will see a 39% decrease in brand awareness and delay post-COVID-19 recovery. What should marketers be saying to their consumers? Kantar’s survey found 77% of consumers want brands to ‘talk about their efforts to face this situation’ and 70% want brands to offer a ‘reassuring tone’. Gupta’s advice to make the creative work hard – dedicate resources to high-quality creative and make it work for the brand across channels. He also advises choosing and working with a publishing partner to deliver consumers valuable content from a trusted and tone-sensitive source. Citing a 2008 Milward Brown paper on recession marketing, Gupta says across categories, creative was five times more impactful on profits than media allocation. Gupta also ends with a quote of his own, from one Winston Churchill: “Never waste a good crisis.”
Kunal Gupta notes that brands have already significantly decreased their marketing activity, which is expected to cause a 39% decrease in brand awareness for these businesses through and after COVID-19
Gupta advises marketers to watch their tone and ensure their messaging is relevant to the situation consumers find themselves in
Gupta also recommends dedicating a good portion of budget to developing high-quality creative – with content being more important than pipeline in times of recession.