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  • Vijesti

    Wüsthof Sharp Systemic Brand Identity with Gigodesign wins Red Dot Award

    How to win a Grand Prix in Cannes?

    The best of Latvian and Estonian advertising

    Enjoy the summer with Cinedays Film Factor 20

    Lokomotiva and SentecaCommerce signed a partnership for 12 European markets

    Virtual Drumming with Fernando Machado, Karolina Galácz, and Thomas Kolster

  • Tema sedmice
    daljinski-naslovnica

    Television Audience Measurement: In Serbia, the media are in a race to the bottom for every extra “click”, while in Croatia HTV has undermined the principle of joint monitoring

    This global pandemic, coronavirus, cuts across all geographical borders regardless of cultures and language. What is the role of Public relations today?

    Slaven Fischer: Creativity doesn’t reside in buildings but in people, no matter where they are. It’s natural for people to work from home.

    Janja Božič Marolt: As in every crisis, there will be a lot of victims and some winners in the communications industry of the region.

    Shortcutting Video: New Study Highlights the Effectiveness of 2-second Ads

    Topic of the Day: Can artificial intelligence replace human intelligence and emotions. Is technology a servant or a master?

  • Intervju

    Miranda Mladin: Keeping consumers’ attention is every brand’s biggest challenge

    Nataša Mitrović: I understood that the Balkans should be my primary target area and that, once I had become a shark in the Balkans, then I could make my way “back” into the big world and swim in the sea with the other sharks.

    Ivan Stanković: I admit to having great fun and enjoying myself enormously working on my show, What I am to you and who I am to myself.

    Scott-Gould-naslovnica

    Scot Gould: Stop doing anything that you do that isn’t valuable, tell everyone about that offering, and don’t stop!

    lazar-naslovnica

    Lazar Džamić: We are experts at preferring the byways, swamps, and chasms, so that we can keep on going in circles, lost in space

    Irena-naslovna

    Irena Kurtanjek: Contributing to the Communities in which we Operate is the Foundation of Nestlé’s Business

  • Kolumna

    Sponsors? What that?

    misa-naslovnica

    Miša Lukić: What can start-ups learn from sperm?

    Do Brands Always Need to Sell Aggressively to Grow?

    Price of Hate

    The Advertising Industry: From Alchemists to Distributors and Back Again

    Milena Garfield: It’s not long since I said: If it ain’t live, it’s dead

  • Dnevnik

    Diary of a Methuselah #176 Will our industry come out of this better and smarter?

    Diary of a Methuselah #159: Ivo Pogorelić and Zoran Todorović weren’t attractive enough for sponsors in Sarajevo

    Diary of a Methuselah #157: The Young Leaders of Tomorrow, a great event for young people who are ready to assume responsibility for the future of industry

    Diary of a Methuselah #156: I’ve been writing my Diary for three years now, and I don’t think I wrote anything smart

    Diary of a Methuselah #154: Three days at the PRO.PR Conference

    Diary of a Methuselah #153: Portal Media Marketing starts a new life today

  • Mladi lideri

    Mladi liderji – Uroš Zorčič, New Moment Ljubljana: Vedno gledam na dela sama in ne postavljam v ospredje posameznih ljudi ali agencij

    Mladi liderji – Saša Droftina, Luna \TBWA: Želela bi, da bi se spremenil odnos do pitchev

    Mladi Lideri Kristina Gregorc

    Mladi liderji – Kristina Gregorc, Mercator: Zelo sem optimistična in izjemno ponosna in vesela, da sem del tako velike in uspešne ekipe

    Mladi Lideri

    Mladi liderji – Maša Crnkovič, Futura DDB: Največji izziv je vpeljava podatkov in feedback-a uporabnikov v procese dela

    Young leaders – Aneta Nedimović, New Moment Belgrade: Articulating ideas and the value of those ideas is an art form and a skill

    Mladi liderji – Matjaž Muhič, ArnoldVuga: Želel bi več časa za razmislek, za delo, za raziskovanje

  • Tri pitanja

    Robert Wester: Strategic communications is at the top of the European Commission’s agenda

    Chris Pomeroy: Tourism in 2019 accounted for 1 in 10 jobs on the planet and until now it was resilient to all manner of crisis

    Andrey Barannikov: The role of PR in Russia is changing and becoming more strategically important both for brands and communication agencies

    francis-ingram-naslovnica

    Three questions for Francis Ingham, Managing Director of the Public Relations and Communications Association (PRCA) & Chief Executive of the International Communications Consultancy Organization (ICCO)

    3 questions for Svetlana Stavreva, President of the International PR association (IPRA): Today, people are demanding that organizations do what they promised

    Three questions for Petra Krulc, Senior Vice President of Celtra

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Home News

Global coronavirus pandemic and the marketing industry: 8 thoughts and tips

The current global pandemic has already started to impact the economy

21/09/2021
in Featured, News
4 min read

Drugi jezik na kojem je dostupan ovaj članak: Bosnian

Author: Daniel Ackermann
Co-Founder & CEO, Degordian 

 

The current global pandemic has already started to impact the economy. Unfortunately, the spread, as well as the aftermath of the COVID-19 virus will have great repercussions for us all, without exception. There is a great deal of uncertainty regarding what will happen next and the situation is changing by the hour, but more and more companies are preparing for the worst case scenarios. Of course, the overall health of the global population is everyone’s greatest concern, but there’s something to be said about the implications of the pandemic and consequent recession in the marketing industry.

Everyone is facing the same troubles and it’s hard to pinpoint the right path to take. However, till everything gets a bit clearer, I tried to gather some important information and advice on how to manage a business during these difficult times. Since Degordian gained most of its experience in digital marketing, most of these remarks are concerned with the field of digital, though not exclusively.

CORONAVIRUS

Corona is the main topic of interest these days. A vast amount of content users consume is related to this subject in particular. That’s exactly why current communication and marketing should be attuned to these new circumstances. Croatian streaming service PickBox is a very good example of this, as is Pornhub with their newest move on the Italian market. Both of these services gave users the option to watch content for free during the crisis, which is a good way of showing they care, while also gaining a great deal of positive PR. They have also gained an acquisition channel, since some of the users who try their service for free probably will end up being paying subscribers.

CUTTING BUDGETS
I would not recommend cutting marketing investments in this situation, except in the case of tourism, transport and events that are postponed during the coronavirus outbreak. As for everyone else, the consequences and impact aren’t clear yet, but good marketing and sales have always been the best antidote against revenue drops and unprofitability. Regarding this topic, you can read this article about defensive and offensive business approaches during recession.

LOWER COSTS OF ADVERTISING

Advertising tends to get cheaper during crises. For example, Google, Facebook and similar platforms function like auctions, and real-time prices mirror the current state of demand. Advertising has already reduced in scale, which consequently lowered demand and decreased CPC and CPM. We can see prices are dropping in most segments, even over 20% in some cases. When all this settles down, it’s quite possible that the demand stays lower, as well as prices. However, it’s also possible that businesses try to compensate, which in turn will increase demand and prices.

NOT EVERYONE IS AFFECTED THE SAME WAY

Available info shows that not all industries are impacted negatively, and some even experienced positive effects. This refers to grocery retail (and some other retail segments), pharmaceutics, a part of FMCG and some others. The demand for products in these categories is at a high, which can be good for pushing that interest toward your product/business.

DIGITAL vs. TRADITIONAL

The crisis just began, but it will probably last for quite some time. Marketing budgets tend to drop in these situations (e.g. in Croatia, they dropped 40% during the financial crisis of 2008). However, digital prospered during that same period. In difficult times, brands lean towards change and trying out new things (digital), but also want efficiency and measurable results (also digital). That same period of a 40% marketing drop also saw a 2.5x increase in digital budgets. I expect to see that same trend this time. For more info about yearly budget changes, check out HURA’s AdEx research.

OPTIMIZATION vs. SPENDING
The biggest part of the budget is in most cases channeled into advertising, and a smaller amount goes into optimization. However, in moments like these it’s advisable to focus more on optimization, especially with performance-oriented clients. For example, if a monthly advertising budget is 20.000 euros, with good Conversion Rate Optimization the conversions can grow from 0.1% to 0.2%. In that case, one can get the same result for half the budget (10.000 euros). Besides that, it’s wise to consider focusing on SEO that generates traffic for free.

DIGITAL ASSETS

During isolation, physical contact is obviously out of the question, which is why more buyers visit websites to inform themselves about certain products, and eventually buy them. Some webshops we keep in touch registered a 5x increase in sales, and Amazon hired 10.000 workers in order to cope with a sudden surge in online shopping. Investing in online advertising and a digital asset like a website or an online shop is now a more cost-effective move than before.

 

TV ADVERTISING

In Croatia, TV advertising still gets the biggest cut of the budget of an average marketing mix, and it indeed has numerous advantages, but it’s not always best in terms of targeting and efficiency. YouTube and Facebook are two of the biggest video platforms online, they offer superior targeting models, better charging models, as well as more advanced analytics. If there is pressure to downsize the overall budget, it’s always good to consider raising budgets on these platforms, as to compensate for the results.

I’ll continue sharing any new info with all of you, and I hope these thoughts and tips end up being of help to you.

Tags: Croatia
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