With a historic economic crisis amid the coronavirus pandemic, it’s no surprise to hear that many advertisers have pulled back spend over the last 12 months. Once again it’s up to those in the advertising industry to sing for their supper and make the case to clients to keep spending, keep talking and keep advertising their wares.
But with conditions far harsher than even a ’normal’ recession, they’ll need to be more persuasive than ever before.
How do you make the case for advertising during a pandemic?
Mike Campbell, head of effectiveness, said:
In short, data. Data provides the insights needed to truly understand the value of a brand’s investment and, when used correctly, will speak the boardroom’s language in terms of the clear ROI and growth needed to persuade even the most cautious chief finance officer. Optimal media planning benefits from the rigorous application of marketing analytics, including techniques such as market mix modelling, rigorous testing, and brand equity modelling.
This data-driven approach enables brands to choose the right level of investment for brands and markets, depending on the specific brand, the category and number/scale of competitors, and whether the brand is a market leader or a challenger. By adopting this way of working, brands can address the long-term crisis in creative effectiveness and reverse the long-term decline in marketing impact.
To read the article in full in The Drum, click here.
First featured 12/01/2021.