The coronavirus has left a deep wound in all production sectors of the economy . Among them, advertising. In the face of the crisis and economic contraction that will follow the health pandemic, WARC has just launched the “Marketing Guide for the COVID-19 Recession”. A document based on evidence and practical lessons from past recessions , but taking into account that the one we are about to experience is different and unprecedented.
The best ideas from the industry are gathered to navigate after the lockdown
The consultancy has also drawn lessons from what has happened in China , which has begun to return to the new normal earlier than the West, and recommends key actions that brands can take now to take advantage of the growth opportunities ahead.
Lena Roland, Managing Editor at WARC Knowledge, says costa rica number screening that this Guide brings together the “best thinking from across the industry on how to navigate” the post-lockdown period.
Lessons from "normal" recessions
Various research studies suggest that significantly reducing advertising spending in a recession has a long-term negative impact on brands in terms of sales, market share, growth and return on investment . In contrast, companies that maintained investment in past recessions recovered more quickly. In this regard, WARC has identified five marketing lessons from previous recessions :
In a recession, media costs fall
Reducing advertising spending may risk damaging the brand's market share
Investing in advertising investment provides a long-term advantage
Declining market share may be difficult to reverse
"Disappearing" after six months can weaken brands.
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