Hi Matthew,
Welcome to the tenth and final edition of our Editor''s update series, where we bring you key insights from
WARC's coverage of the recession and guide to recovery.
Legacy businesses find new dynamism
Large enterprises have learned to move at greater speed than was previously thought possible during the pandemic, and this dynamism should help them navigate the recovery. That was one finding from a study produced by the CMO Growth Council - a joint venture between the Association of National Advertisers (ANA) and Cannes Lions - in partnership with WARC.
Among the other priorities of the corporations involved in the CMO Growth Council's taskforce focused on the pandemic - a roster that includes organisations like General Motors, CVS, Shell and State Farm - is the importance of supporting the wider ecosystem of stakeholders that a brand works with, and planning for a multitude of possible outcomes in uncertain times.
Measurement strategies must change
Media impact is unpredictable at a time when consumer habits are in considerable flux. And econometric models, which are based on data gathered over an extended period, are often not a reliable guide to how campaigns will perform in a changing environment. Constructing short-term measurement models could thus be a valuable approach, especially in categories like the fast-moving consumer goods industry, where purchase trends are deviating significantly from pre-crisis levels.
A separate piece advises brands to use control and exposed groups in programmatic campaigns to determine which messages are delivering the best results among consumers before scaling up communications
IBM prepares for "re-think" not "re-start"
IBM, the tech company, is mapping out its future strategy in terms of a "re-think" rather than a "re-start". In practice, that means the firm is planning for how client needs will develop - say, with regard to previously unanticipated priorities and how work ultimately gets done - in the new normal, instead of preparing for a return to business as usual.
From an advertising perspective, IBM has shifted its focus to topics like resilience in the supply chain and cybersecurity, which are of heightened importance as people work from home, and are set to receive much greater attention going forwards.
WARC Talks
You can watch this week''s series of
WARC Talks on Marketing in a Recession from China, Singapore the UK and the US, until the end of June. Look out for the
recordings here.
Register for:
Leading Indicators of the Future: COVID-19 Edition, presented by WARC Talks & Columbia Business School''s Center on Global Brand Leadership on 2nd June.
WARC from Home
Don't miss this series designed for our users looking to skill up in the lockdown. Each week we share a classic webinar or talk and run you through some key marketing concepts. Including:
- Classic Webinar: Faris Yakob on Balancing your Brand Communication Plans
- Brand equity - why it matters and how to measure it