Four weeks ago when most America when into lockdown, marketers worried about the future of their marketing to mom campaigns. What they soon discovered however was that homebound moms searching for products, educational tools and entertainment created opportunities for sales growth. [A great blueprint for the US Hispanic advertising, marketing, media, public relatins and research Industry]
Radio provides consumers with a reassuring presence in challenging times
According to a 700 media and advertising professionals conducted just prior to Covid-19 and Black Lives Matter activism, 43% of Black, Hispanic/Latino and Asian professionals in the advertising and media business agreed that the industry is doing its best to advance diversity, equality and inclusion. By comparison, 60% of Caucasian professionals in our community agreed. Only 12% of white people in the ad/media business believed current efforts are insufficient vs. 35% of Blacks, 31% of Hispanics/Latinos and 21% of Asians. The remaining group offered no opinion.
Multicultural Excellence Award winners showcase insight and learning from the brands taking the strategic steps to ensure their engagement with multicultural consumer segments is relevant, creative and compelling.
Media owners’ advertising revenues will decrease by $42 billion in 2020, from $582 billion to $540 billion, as advertising spending shrinks due to the severe economic recession triggered by the COVID-19 pandemic, as GDP is expected to contract between -5% and -12% across the world’s largest markets. Global advertising revenues will decrease by an estimated -7%, as the heavy, double-digit decline of linear ad sales (linear TV, print, linear radio, OOH, cinema), -16% to $238 billion, will be mitigated by the stability of digital formats: +1% to $302 billion.
Last week’s Cog Blog post, on what the agency of the post-pandemic future might look like generated some interesting feedback. This week’s post tries to provide some suggestions (answers would be presumptive) to the points raised, based purely on my own experience. I’ve grouped these around four of the most popular topic areas. By Brian Jacobs
The expansive role of the chief marketing officer is filled with possibility, but many CMOs lack the confidence to truly engage with the C-suite. How can CMOs build confidence to elevate their influence and fully realize their role’s potential?
Marketers, looking for increased productivity and transparency in their media investments, are calling for sweeping changes and improvements in the media ecosystem. This includes transformative changes to the upfront marketplace.
On April 16, the National Association of Hispanic Journalist (NAHJ) board announced, in a press release posted on NAHJ.org, that it had voted to cancel national board elections and extend, for another year, the terms of board members, including those of the president and the rest of the executive board. This move encompassed both elected and appointed board members.
The 2020 Edelman Trust Barometer Spring Update: Trust and the Covid-19 Pandemic shows a significant rise in Americans’ trust in both government and business. Since January, trust in government has risen nine points, and trust in business has risen six points.
With Women’s History Month upon us, there’s no better time to recognize that efforts to increase gender diversity in the boardroom are finally beginning to yield results.
To become more inclusive and LGBTQ+-friendly, brands need to lead with actions rather than just words. Making statements isn’t enough anymore. Instead, culture needs to change from within a brand, not just within its creative copy. How can this happen?
Throughout the Covid-19 pandemic, consumers have been highly attentive to companies’ concrete actions, especially regarding health protocols, reliability and pricing. When choosing vendors and products, people care about what companies do, not just what they say. Advertising and social media messaging thus should tightly align with the material steps a company takes in the marketplace.
The Culture Marketing Council: The Voice of Hispanic Marketing (CMC) announced the 2020 Culture Account Planning Excellence (CAPE) award winners, originally created in partnership with HispanicAd.com. Alma took top honors with its Pepsi Campaign, which won Best in Show as well as a Gold award for Best Cultural Insight. LERMA/, MediaCom, Republica Havas, Urias Communications and Wieden + Kennedy also were among the agencies honored.
Agencies and our trade press have been busy opining on what it all means for this or that sector, whilst, one hopes, diligently planning for their own futures. Agencies are due to hit the reset button, but just before they agree to ‘restore factory settings’ it might be an idea to ask whether the old model is any longer fit for purpose. By Brian Jacobs
BOTTOM LINE: While its likely not totally shocking at this point, we think that April increasingly feels like the bottom, and the linearity of the quarter appears to be much better in May, with expectations for continued rebound into June. Our and the Street’s 2Q20 estimates are largely in the range of where the companies indicated they were pacing for the quarter in April/early May, and our expectations are that there is likely upside to revenue numbers of at least 4-7%. We will be waiting to see how June shapes up, as well as color around 2H outlook before refining our estimates, but numbers are likely going higher.
Many chief marketers are likely to have a disappointing upcoming year as 84 percent surveyed by the CMO Council say their compensation is tied to business performance improvements in 2020. Not surprisingly, take home pay will likely be less due to the severe economic impact of the global pandemic.
Whether by necessity or ingenuity, minority-owned small businesses may be giving us an early sign of how US businesses will adapt in the wake of COVID-19. These businesses are experimenting with new ways of working to ensure their employees’ safety, offering monetary relief to employees and community members, and introducing new services such as free delivery to those who need it.
As Millennials reach a new stage of life – the oldest among them will turn 39 this year – a clearer picture of how members of this generation are establishing their own families is coming into view. Previous research highlights not only the sheer size of the Millennial generation, which now surpasses Baby Boomers as the largest, but also its racial and ethnic diversity and high rates of educational attainment. This research also notes that Millennials have been slower than previous generations to establish their own households.
There’s no rest for the weary. With the 2020 scope season in the rearview mirror, it’s already time to look ahead to 2021.
