The Covid-19 lockdown has seen marketing budgets suffer their worst reduction since the global financial crisis in 2009, according to the latest IPA Bellwether. Nick Pugh reacts to the news, saying:
This confirms what we already knew: these are uncharted waters. For brands that are able to adapt, we recommend holding your nerve and advertising where possible for the best long-term results. Share of voice drives share of market, and brands that continue to invest in recessions usually come out stronger.
It’s also clear that citizens are turning to brands for advice, guidance, reassurance, and help. The fast pace of this crisis, combined with the economic impact, means that brands need to shift to super fast planning and forecasting cycles, real time insights and analytics, and evidence-based measurement.
Brands should be laser focused on the metrics that matter in order to properly substantiate investment decisions up to the C-suite and Board level.”
To read the article in full in Mediatel, please click here.
First featured on 22/04/2020.