Are you currently rebudgeting for recession and recovery? If you need tailored advice on budget planning, Paul Dyson has teamed up with WARC Advisory to help marketers with their investment planning during COVID-19 and its aftermath. Paul will use evidence from previous recessions to explore the impact of shifting budgets and media allocation to plot out specific scenarios for your brand. If you’d like to know more, please get in touch at email@example.com.
Why it matters
Marketers are realising that a combined strategy of brand building and sales activation is the best approach for long term success. For many advertisers this means moving budget away from short-term activation into longer term brand building – possibly accepting an initial drop in sales now for a stronger brand and a better return in the future.
- Recently there have been two shifts in marketing theory:
- a realisation that digital/activation media are often over-estimated through attribution models
- a growing bank of evidence that brand building is a vital part of marketing that should typically attract more investment than activation
- Large advertisers such as Adidas and P&G have realised this through their own measurement systems and are moving budgets out of digital media and into brand building channels.
- Brand building can take 2+ years so it is vital that marketers can demonstrate moving budgets in this way is better for the brand. They therefore need to be able to understand the long-term (5+ years) impact of this strategy