Business

Just-released research from GfK shows that the novel Coronavirus (also known as COVID-19) will have significant short- and long-term effects on brand affinity and consumer purchases in the US.

Updates and news on the coronavirus, or COVID-19, are changing rapidly. Companies and brands are communicating with consumers about how business is being impacted, how it affects consumers, and what they’re doing to keep everyone healthy. Using Suzy, a real-time market research platform, 4A’s Research surveyed 1000 consumers on March 18, 2020 to understand how consumers feel about brand communication during the pandemic and learn how COVID-19 is changing people’s daily routines.

In the earliest days of HIV/AIDS, before the public was responding to the growing plague, two of my closest business colleagues died. One was an incredibly talented chief creative officer of a major fashion chain and the other a network TV buyer at a large agency. It wasn’t until friends began getting visibly sick and dying that the immensity of the human tragedy resonated for many. For those in the gay community, AIDS was a pandemic. For me, like too many others, reality dawned slowly.  By Jack Myers – Media Ecologist, Founder: MediaVillage and Advancing Diversity Hall of Honors

It has been 16 years since Facebook’s founding and Google’s IPO in 2004. Marketing, media, and creative players rushed in to master the new digital and social innovations across all viewing platforms. Complexity replaced simplicity and has grown without bounds. Excess complexity is a disaster. It’s time to eliminate it.

Many industry sectors may decrease marketing and advertising spending this year as a result of slower sales and profits. MAGNA expects the impact on revenues to be severe for the Travel and Restaurant industries, moderate for Retail and Automotive, mild for Consumer PackagedGoods (CPG/FMCG) and potentially positive for Ecommerce and Home Entertainment (SVOD).

While solutions exist, myriad problems continue to erode the trust between clients and their agencies

IThe current crisis is a far cry from the Great Recession but there are things we have learned that are applicable when trying to figure out how to protect brands, businesses and livelihoods. In this post I have listed a few things that brands should do during the crisis and which will help preserve the brand’s standing for the longer-term..  by Nigel Hollis

The commonly paired statements that “everyone is working from home” and “everyone is having their goods delivered” amid the coronavirus outbreak ignores a whole segment of the workforce—the ones prepping and delivering their purchases. In fact, less than 30% of workers can work from home, and the ability to work from home differs enormously by race and ethnicity.

Total marketing communications and advertising investments will decline more than $50 billion annually between 2019 and 2025, from $589.8 billion to $538.3 billion, according to The Myers Report’s new Marketing & Media Economic Data and Forecast 2000–2025. Yet advertising’s share will grow a projected 7.9%, from $214.5 billion in 2019 to $231.4 billion in 2025.

During these unprecedented times, with restaurants being forced to close temporarily and supermarkets facing more demand than usual due to the COVID-19 pandemic, three Miami landmarks have joined forces to support one another.

Due to health concerns, Telemundo’s Upfront event in New York City slated for the evening of Monday, May 11 has been postponed. NBCUniversal announced it will instead televise and stream the Upfront Presentation for the 2020-21 season to ensure the safety of all participants while also reflecting the increasingly direct relationship between NBCUniversal, its fans and its partners.

To help prevent the spread of COVID-19, the Culture Marketing Council has rescheduled the CMC Annual Summit from April 27-29, 2020 to new dates. The CMC will announce the new dates in the coming weeks.

In recent weeks, there has been some talk about an economic recession. When it comes is still anybody’s guess, but another business slowdown is inevitable. It would be the first since the “great recession” ended more than ten years ago. Often times when a recession happens, businesses, fearful of declining revenue, begin to cut back in various areas, including their ad spending.  By Brad Adgate

Covid-19 could permanently shift working patterns as companies forced to embrace remote working by the pandemic find that their employees do not want to return to the office once the closures are lifted.

When this #Coronavirus thing is all over. And it will be over at some point. How about a novel idea. WHY DON’T WE BRING BACK THE F****** #CUBICLE!

While we’re not sure what the next thirty to sixty days are going to bring, one thing is certain- how we work just went virtual. Most of us are working remotely and not going into the office to work for at least the next 2 weeks. Job interviews can and will still occur.

Challenges arising from the spread of the new coronavirus (COVID-19) are likely to accelerate the use of existing and new technologies and tools as consumers go into lockdowns, millions are forced to work from home and digital connectivity takes even more of a hold on everyday habits.

Regardless of whether you call it social distancing, quarantining or retreating to a safe place, heading home amid concerns about the novel coronavirus (COVID-19) is bound to affect media consumption habits. In fact, staying put in our homes can lead to almost a 60% increase in the amount of content we watch in some cases and potentially more depending on the reasons. Considering that consumers around the globe are already leaning into the growing array of content options and channels, a 60% increase is significant.

The coronavirus is top of mind for all right now, and understandably so. There remain a lot of unanswered questions about how bad things may get and how long it will take for them to resolve.

On March 9, The Myers Report predicted a potential $1 billion to $3 billion loss in advertising spending in 2020 and an additional $1 billion to $3 billion in 2021 due to coronavirus (COVID-19) realities. We projected total marketing communications budgets could decline by $3 billion to $11 billion in each year. Based on the actions of the past week, we now believe the most likely budget reductions will be closer to last week’s worse-case scenario.