As we roundup Week 6 of lockdown, we review the key points of Marketing that have taken place this week. We clearly are at an inflection of unprecedented change, we review several webinars and key articles – for those working in strong businesses there are immense opportunities – for those furloughed the chance to reflect and come back stronger. What we are all experiencing is hard, it’s a struggle, but by communicating we can help each other. The talk of business and pitches is happening again. I hope you enjoy the long VE weekend.
As lockdown goes on there is the deeper fear of recession, Bank of England predictions this week didn’t look good, Sir Martin Sorrell, of S4 Capital predicts that this downturn is a “reverse square root” – a sharp downturn, then a quick partial rebound, before a plateau at a lower level than the pre-COVID period. The picture varies by sector, with fast-moving consumer goods and tech well-positioned, while travel brands will struggle. Sorrell argues that the advice to spend your way through this recession is “patent nonsense” for companies that have seen distribution evaporate.
- So with this in mind, first off we take a look at the Agency Lessons from Recessions and the Cog Blog produced by BJ and A. This piece discusses what most marketing advice has been peddling that line – to be the smartest – keep spending at this time, when the competition slows or stops thus raising share of voice. The flaw being if everyone follows the same marketing advice then share of voice remains the same, and for many distribution channels have simply disappeared.
Here is the link: http://www.bjanda.com/blog/agency-lessons-from-recessions/
- Secondly, we review Craig Mawdsley’s article from Campaign magazine. Craig argues there will be a recession, and if your brand is in a category that suffered in 2008 you’re probably at risk of it this time around. A really insightful read, it may well be the wealth of data amassed through having all transactions online through Covid-19 that gives Marketeers this time the alacrity to rebuild.
Here is the link: https://www.campaignlive.co.uk/article/learned-crisis/1682135
- Thirdly, in a change from the norm, an article by Herminia Ibarra – the Harvard Business review is always a good source of thought provoking stimulus. This one looks at Career challenges and reinvention that has been a topic of many recent Lockdown discussions with friends and colleagues.
- Fourth, we take a look at a Blog piece from the Marketing Centre which compares marketing to the GB Olympic team and the story of marginal gains. The concept of marginal gains is simple: instead of looking for groundbreaking innovations, find and make small improvements wherever possible. By making 1% improvements across a range of areas, your overall performance will be dramatically improved.
- Fifth, we followed the MDC and Partners webinar with our consultancy colleagues in the US, and the feeling of a return to normality there is less than a flicker. They are about 4 weeks behind us in terms of the pandemic but this research of the MDC panel shows weekly how emotions are changing. Before we fly again industries will significantly change. We attach this excellent executive summary.
- Sixth, we highlight the new Fix Merchant+ from the US which goes deeper into the core topics of retailing and the usual Friday Fix. Direct to Consumer has seen a big rise on both sides of the Atlantic. At a News Webinar – Steve Chantry CMO of Kraft Heinz spoke of the 10% increase in new customers Kraft are having from a bundled DTC pack for the first time.
Time for the Work: and hats off this week goes to VCCP and Cadbury for their lovely new work and indeed packaging, the creative just gets stronger and stronger.https://www.vccp.com/en-gb/work/cadbury/this-doesnt-have-to-end
A big shoutout this week goes to Uncommon London, for sending us a candle introducing ‘the Scents of Normality’ Uncommon have collaborated with expert Candle makers Earl of East to help raise money for an incredible charity. Each candle capturing some of the places we’re all missing during lockdown: The local, The cinema and the Festival. We just can’t wait to know what the sequel scents will be if lockdown continues: https://www.earlofeast.com/collections/scents-of-normality
‘Reciprocity’ - is a big theme going forward – with consumers wanting to support those brands that have been good to them. Tip of the week: always be kind.
For Media Gurus, there is a report out next week – The Future of Media Trading – Mediatel News Editor – David Pidgeon talks with ISBA Director General and a Partner at PwC – May 14 at 10.30am BST, they will look at some of the stats the report reveals. Ohhh and look to find the missing 15% that cannot be found in the entire supply chain. https://info.mediatel.co.uk/en-gb/mediatel_digital_events
We end the round up – back in Henley for VE weekend. There is no Henley Royal Regatta and no Henley Festival this year, but we came across this lovely old piece of 2 minute film. Boats will soon be back in the water, we look forward to seeing you soon – may these times come back soon. https://m.youtube.com/watch?v=pCvu_ykXhfk&feature=youtu.be#menu
So there is a possibility of some lifting measures from the Prime Minister on Sunday. Germany is eyeing an accelerated return to normality. UK brands are preparing for a partial lockdown lift – some advocate it’s not the time for pulling back on spend – but the time to be bold. We are looking to help you with your agency reviews and wider marketing projects. Please do get back in touch.
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