We understand that navigating through a financial and social crisis is tough. We have collated some previous learnings from economic downturns to provide pointers to help brands through the current crisis.<\/p>\n
Here are 5 thoughts to underpin your marketing at this time:<\/p>\n
Continue to communicate, but be mindful of the message<\/strong><\/p>\n IPA research has shown that brands who significantly cut back or stopped marketing activity experienced a much slower recovery post-crisis.\u00a0 So continue to communicate but keep the brand to the fore and ensure that the message is relevant to the issues consumers are currently facing.<\/p>\n Re-evaluate success KPIs<\/strong><\/p>\n Attention and resources are often focused on short-termism during a crisis.\u00a0 However, by focusing on brand building and growing your SOV (as per point 1), the longer-term gains in profitability are likely to outreach the short-term reduction<\/p>\n Be creative<\/strong><\/p>\n Brands often turn to functional, performance-focused messaging to drive short-term profit, but this can be folly.\u00a0 Creative campaigns deliver a profit multiplier of at least tenfold, so focus on quality over quantity<\/p>\n