We’ve searched for the most pressing marketing news so you don’t have to. Here’s what’s happening so far the week of March 9.
Businesses are planning for a post-Coronavirus world as we’re right in the midst of a pandemic. Here’s what they anticipate after the virus subsides.
Why it matters: “Businesses in the US and Europe should consider long-term industry trends that will continue even after the travel rebound dies down and begin adjusting their focuses accordingly.”
Cancel those scheduled posts.
Why it matters: How agencies and brands deal with the Coronavirus crisis will speak volumes about the class of marketers they employ.
A look at what happens to sports contracts and sponsorships should Coronavirus’ impact extend into the second half of the year.
Why it matters: “Some brands will hopefully see their sponsorship partnerships as more of a two-way street, and find ways to stick with athletes and leagues instead of hitting pause.”
“Video consumption is especially important to Generation Z and millennials, with half of respondents in the demographic groups agreeing with the statement that they “don’t know how they’d get through life” without video.”
Why it matters: New research from Google suggests that “mobile marketers need to create branded content for YouTube that provides helpful information for target audiences or to collaborate with influencers who have gained a following by sharing their expertise about a topic.”
The BoF Podcast: Retail Futurist Doug Stephens On How Coronavirus Will Shift Consumer Behaviour
Business of Fashion
Doug Stephens and Imran Amed discuss the principles fashion brands need to adopt to survive the effects of Coronavirus on the industry and what to expect on the horizon.
Why it matters: While Stephens and Amed forecast a consumption spike post-Coronavirus, Stephens also notes that marketers should, “use this time to reinvent how you do what you do, bring consumers new alternatives, new value and in the process even reinvent your own brand.”
KFC would rather not highlight the urge to lick your fingers in the midst of a global viral pandemic.
Why it matters: Sensitivities around normal social behaviors are obviously a bit heightened right now, leading some brands to pull back on relatively innocuous messages.
Unlike other organizations that are out-and-out canceling their planned events, Cannes Lions is banking on a contingency plan.
Why it matters: Your Cannes Lions plans now have a contingency should Coronavirus interfere substantially with the event’s regularly scheduled programming.
“More than 100 brand marketers, agencies and digital publishers were surveyed, with 6 percent saying they’re satisfied with the current digital advertising ecosystem.”
Why it matters: “Digital advertising is still suffering from the same issues of transparency, fraud and fragmentation,” comments Christiana Cacciapuoti, executive director at AdLedger.
What Does The Symmetry Of Your Logo Say About Your Brand?
Harvard Business Review
A look at how symmetry in logo design impacts overall brand messaging.
Why it matters: Your logo is front and center. It’s often the first impression potential consumers have and should be emblematic. What does your logo, symmetrical or otherwise, say about your brand?
“Having consulted with hundreds of marketers, we’ve identified the key pain points in realising a truly data-led, customer-centric marketing strategy.”
Why it matters: These barriers, including siloed teams and poor in-store experiences, demand breakthroughs for truly customer-centric marketing strategies to have a chance.
A look inside Snap, Fast Company’s most innovative company of 2020, with CEO Evan Spiegel.
Why it matters: Get an inside look at Spiegel’s day-to-day, including insight into the challenges Snap has faced and how the CEO has confronted them.
How the outbreak of COVID-19 is having a dampening effect on VC funding for DTC companies.
Why it matters: An economic downturn, coupled with the existing challenges for new DTC brands, has had a freezing effect on funding. Take an in-depth look at how the category is being affected.
CFOs: The Marketer’s Key To The C-Suite
New research from Deloitte upends previous thinking about the trust between CMOs and CEOs.
Why it matters: Previous research framed the role of the CMO as having a deficit of trust from the CEO, however, this new research shows that “CEOs are the C-suite members who rate the performances of their CMOs most highly—even higher than the CMOs themselves.”
“Advertisers have tried to improve their cash flow by taking more time than they did in the past decade to pay for marketing services.”
Why it matters: “The ANA’s study found various reasons for advertising agencies, research firms and production houses to set their payment terms based on the service they provide and the competitive landscape.”
The struggle is real. Events are being canceled left and right due to COVID-19, with many experiential marketing businesses left holding the baggage.
Why it matters: Providers of brand experiences are looking to digitization to surmount the growing impact of COVID-19 on their campaigns.
Liam Hickey, head of automation for Spotify AUNZ, remarked that by 2021, “we can’t be sitting around talking about how to buy and measure it or we won’t have been doing our jobs,” at IAB Australia’s Audio Summit in Sydney.
Why it matters: Podcast metrics have been historically isolated to ‘downloads,’ but settling on standards for measurement has to be a focus this year for an industry more and more reliant on audio advertising campaigns.
Jennifer Chase, SVP of marketing at SAS, gives invaluable advice on which skills to build to prosper as a marketer in the next decade.
Why it matters: In our industry like no other, it’s imperative to keep a future-oriented mindset while keeping one foot in the day-to-day. No simple task, but these tips can help bring it all back home.
“How much do the latest data privacy regulations limit customer journey data that powers personalized online experiences?”
Why it matters: Personalization has, without question, been impacted by recent data privacy legislation. However, when customers come to expect personalized experiences, leading to a conundrum for marketers.
How To Market A Product When Your Buyer Isn’t Your User
Harvard Business Review
Follow these techniques to overcome the buyer-user divide.
Why it matters: “For companies playing in a market where users and buyers are disconnected, there are three main problems to solve. First is fully recognizing all the buyers and users. Second is effectively and efficiently coordinating across all buyers and users. Third is understanding and aligning the interests of all the buyers and users.”
‘Basically Irreplaceable’: Olympic Ad Dollars Could Evaporate From Market If Coronavirus Causes Cancellation
Billions in ad dollars could be irreplaceably lost due to cancelations from coronavirus, so what are advertisers to do?
Why it matters: Coronavirus’ impact is penetrating all areas of advertising. A glance at the tea leaves: Advertisers will hold at least a portion of their Olympic ad dollars due to having a difficult time finding alternatives for those ad dollars that could compete with Olympic reach.
Familiarize yourself with five examples of how major brands are approaching digital transformation.
Why it matters: Learn from the best by taking a page from these strategies employed by major brands like Disney and BMW.
A recent survey of 400 advertising and marketing managers suggests that the sweet spot between productive and creative time is related to having a healthy work-life balance.
Why it matters: “To be productive and creative, we need to allow ourselves time to decompress.”
Opinion: If Influencer Marketing Was A Male-Led Industry It Would Have Been Taken Seriously Long Ago
Implicit bias and subsconscious discrimination within the advertising industry has affected the perception of the importance of influencer marketing.
Why it matters: Confronting long-held “truths” and biases within our industry is the only way to cast a light on serious, perennial issues related to diversity and equality. Vickie Segar notes that “Right now, the discussion we’re having about influencer marketing is whether it’s “legitimate,” a “fad” or “wasteful”—all while it continues to be one of the best-performing verticals within advertising.”
eMarketer’s newest podcast features a conversation around the impact of COVID-19 on consumer behavior.
Why it matters: Coronavirus is here and already making its presence known in shifting social dynamics. Think about it: how might social distancing impact experiential marketing? Look no further than the recent spate of marketing event cancelations to get a glimpse of what’s to come should industries fail to equip themselves with the right mindset toward this global scare.
Is Technology Subsuming Marketing?
Harvard Business Review
“When we looked at the top five compensated officers of a firm between 1999 and 2017, we found a dramatic decline in the number of chief marketing officers (CMOs) in this top rung — about 35 percent. Meanwhile, the number of officers representing information or technology in the top five, highest-paid category increased, and now far exceeds the number of CMOs.”
Why it matters: HBR’s data suggests a stark decline in the importance of the chief marketing officer in organizational hierarchies.
Editor’s Note: Our weekly reading list is updated daily. This installment is updated until Friday, March 13. Have a tip? We’re looking for must-read articles related to trends and insights in marketing and media. Let us know at email@example.com.