How can marketers defend budgets from imminent cuts dictated by the C-suite?
And how to build strong brands through this COVID-19 crisis.
Marketers the world over are being asked to look at budget cuts and how they can support the business through this financial crunch. But evidence strongly suggests that abandoning investment in brand communications and advertising only helps the short term. Marketers need to plan for this tough conversation and prepare to show exactly what value can be added.
From Managing Director, Priyanka Nadkarni:
Was a pleasure to write this article and share my thoughts for senior marketers for WARC last week as part of their Marketing in the COVID-19 crisis series.
I got to speak to experts in the industry on how this is really impacting their day-to-day conversations, and how they’re transforming their businesses.
Thank you to Experian Asia Pacific CMO Sisca Margaretta and Preeti Gupta, Director of Corporate Affairs, at BMW Group Asia for your time, especially whilst you’re in crisis mode!
The article discusses the need to:
- Frame budget conversations to protect your team’s interests whilst supporting your overall business.
- Shift, don’t cut, your marketing budgets to where you can add value.
- Serve the digital customer.
- Not abandon your brand building activities; history proves it hurts you in the long run.
- Adapt to survive, and adapt to support your customers today.
- Be agile. Change your content today.
With examples, research and case studies from Warc’s archives and new insights from Facebook, The Coca-Cola Company, Hotels.com, Canva and more, I hope it informs your marketing strategy in this unprecedented time.
Please share it with your marketing teams!
#marketingbudgets #marketing #adspend #covid19 #makeitwarc
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