To Restart a business, the lost confidence and creativity should be brought back with the help of people who build brands and drive their growth.
” Out of sight, out of mind” this is a painful truth about advertising. It’s a warning to the marketers who have cut advertising spend during this pandemic, said Keith Weed a former Unilever marketer. He has helped the company through the 2008-2009 financial crisis. Unilever increased its marketing investment by more than £ 1 billion, which helped them to increase their sales and profit and also the share price. Weed used this example to motivate other CMO’s to invest in the advertising to restart growth in the business, in this volatile situation during the Covid-19 pandemic.
Restarting a business might need people who build brands to regain the lost confidence and reunite creativity that drives growth. At this point, when the world is facing the changes it is critical to reinforce the role advertising agencies can support in bringing businesses on the growth. Today marketers are focusing more on short term returns from investment in ads. That is, marketers are finding ways to maintain the present volume and to generate demand from them, said Navin Khemka, chief executive of MediaCom South Asia.
Clients need their ad agency partners to stand by them, in this volatile situation where the business and market conditions are fragile, says the joint President and chief creative of Rediffusion Brand Solutions, Mr. Rahul Jauhari. He added that the brands and their agency partners are understanding, learning, and evolving together, in this crisis. That is, psychologically we are traveling in the same boat and should be aware of this even while communicating.
In this changing environment, facing challenges as agencies are getting their teams prepared to quickly adapt to the new changes. Dentsu Webchutney recently launched a campaign, ‘Safer For Each Other’, for Uber company, showing the important role that each rider plays to make cabs safer for everyone. The years of planning of many brands have been pushed back or affected by these disruptions happening in the business field. Businesses are trying hard to find appropriate solutions to the changing problem they are facing in this volatile situation. Some companies have changed their directions overnight. Thus ad agencies have to adapt fast with the changes happening.