Marketing in COVID times!
With #coronavirus pulling down the global economy, we're in for a long haul before recovery happens. It's also a time when CFOs will focus on cost management and try to retrieve every unspent rupee that can improve profitability. Every flight canceled, every offsite deferred is an opportunity to save and to cut losses.
Consider this: your competitors are cutting back on advertising and marketing spends. Noise levels are down. Suddenly, prime slots on TV or in Print are opening up - and media brands are wondering how they'll plug the gap (the postponement of the IPL isn’t helping either). This is when your rivals and media platforms are at their most vulnerable: if you can pull out additional monies, you will negotiate deals that will get you more bang for your buck. You will stand out in a clutter-free environment and will win share of mind, market and wallet.
You'll also make friends with #media owners who will be beholden to you for bailing them out in troubled times – something to be exercised when you need it later.
So, go ahead and invest in advertising. Now.