GO
LONG-TERM
GO
LONG-TERM
IT'S NO LONGER BUSINESS AS USUAL.
A prolonged disruption and a risk of lower consumer spending will result in many advertisers delaying brand awareness projects, instead favoring a tactical retreat into performance marketing.
This would be pertinent during the Mothers Day period, for example, with retailers and CPG brands, in particular, focusing on discounting and promotions in the hope to recover some sales.
Yet, don’t be tempted to focus all your budget into short-term performance marketing and sales promotions.
While that might look like a natural choice, sustain monthly and quarterly sales pipelines, that would be a mistake.
"NO AMOUNT OF HOT DEALS AND CLEVER SALES ACTIVATION CAN STIMULATE A MARKET THAT IS CURRENTLY TERRIFIED, LOCKED INSIDE THEIR HOMES AND UNSURE OF THEIR FUTURE."
PROF MARK RITSON
"NO AMOUNT OF HOT DEALS AND CLEVER SALES ACTIVATION CAN STIMULATE A MARKET THAT IS CURRENTLY TERRIFIED, LOCKED INSIDE THEIR HOMES AND UNSURE OF THEIR FUTURE."
PROF MARK RITSON
Confronted with a dramatic cut in marketing budgets, the smarter strategy is to actually focus on longer-term brand-building. Performance marketing is going to underperform in the current market conditions.
Marketers need to be mindful of long-time horizons during crises and make decisions on this basis. They should also look for ways to add value to the consumers they service, the media owners they buy from, and the societies in which they operate.
Confronted with a dramatic cut in marketing budgets, the smarter strategy is to actually focus on longer-term brand-building. Performance marketing is going to underperform in the current market conditions.
Marketers need to be mindful of long-time horizons during crises and make decisions on this basis. They should also look for ways to add value to the consumers they service, the media owners they buy from, and the societies in which they operate.
A crisis such as this one will have many unfortunate consequences, but the changes in behaviors that will follow from it could create new opportunities for marketers to engage with all relevant stakeholders.
IT MIGHT NOT LOOK A NATURAL CHOICE BUT IT WILL PAY OFF.
BE A RESPONSIBLE MARKETER AND THINK LONG TERM.
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