You can’t go online without bumping into an article about how the coronavirus pandemic (COVID-19) has changed everything and how it’s all changed forever.
When it comes to marketing, however, just 13% of marketers surveyed think COVID-19 has permanently changed branding, according to a study by Bynder. 57% agree that there will be a lasting impact, but it won’t be a transformative one. More people think it’s a short-term issue and things will get back to normal soon (17%) than think it’s changed forever.
Advertising During Uncertain Times: 11 Research Projects Tell the Same Story
If you’re looking for hard data on what’s happened to brands that increased or decreased marketing during and after a crisis or recession, I’ve compiled the results of 11 studies into this article. Every single one shows the same thing: the companies that stayed the course or increased their marketing efforts grew at significant rates compared to their competitors.
Amid a Crisis, There Is Opportunity – If You Act Now
Consumer research and strategy company Magid works with brands and media companies and has been tracking media consumption and consumer attitudes for decades. Their April research shows significant opportunities for brands and publishers: 69% of consumers say they are trying new brands right now.
This represents an incredible opportunity for businesses to change perceptions and grow their brand. With the right moves, businesses have an opportunity to solidify their base and attract new consumers right now
Changing Consumption Habits During the Coronavirus Pandemic
Remember all the headlines about the death of network news? It turns out the ABC World News Tonight with David Muir is the #1 program on television right now. It’s not just the #1 news program; it’s the #1 program period – beating everything in prime time.
During the coronavirus pandemic, consumption of media has changed. Some new research from TVB shows how it’s impacted the reach of various media.
What is the World’s Largest Advertiser Doing Right Now?
Procter & Gamble is generally considered the world’s largest advertiser. They are certainly TV’s largest advertiser and it’s where they spend the bulk of their money. P&G spent more than $100 million in TV, digital, and print last year.
You would think if anyone could afford to take a little time off with the advertising it would be them. So, what are they doing?
Take Control of Your Brand Conversation or Someone Else Will
Not surprisingly, when you don’t control the conversation, it happens without you. Brands that stop advertising and sending positive messages are seeing huge drops in brand sentiment because they only thing people hear about you is nothing or negative. Those that continued to market saw a drop (people are thinking about other things these days), but nowhere near as big as those that stopped.
We need to be talking to people now about the recovery. What happens when people get back closer to normal?
Advertising During Crisis Times: What You Do Now Will Impact Your Business Long-Term
“Companies which did not cut advertising expenditures during the recession years (1974-1975), experienced higher sales and net income during those two years and the two years following than companies which cut ad budgets in either or both recession years,” the study found.