Adjusting Media Strategy Considering the Impact of Coronavirus on Markets, Consumers and Brands
As you are assessing the impact of this virus pandemic on your brand and market hour by hour, we at Mindstream Media Group are also reviewing our media strategies and recommendations for each client and the unique conditions of each plan. We know that every brand is experiencing these market changes differently. Some are gaining, some are at risk and some will rebound significantly. Our teams remain your trusted partner to discuss challenges and make campaign modifications where needed.
What you can expect from your Mindstream Media Group team:
- We will contact you to discuss your current campaign performance and provide a point of view for your media plan.
- We will deliver options for changes to your media based on current and potential near-future consumption and competition.
- We promise consistent communication and transparency.
Making Media Work in a Time of Crisis
- While many companies have already suspended media during this time, we advise our clients to continue to evaluate the market and your brand’s communication needs. Ask what your company and brand needs to communicate with your audiences. Think of media as a critical part of your overall communication plan to your customers. What do your customers need to know? What questions do they have? What is the critical brand message you need them to understand? Use paid media and your owned channels to help ensure this message is received.
- Focus on the one most important service you offer or need you can meet, then look at how media can support that effort. Think about community benefit and your brand’s role. That should be the core of your message and creative expression.
- When conditions dictate or your brand determines that it is prudent to cease all marketing activities and spend, then work to develop a “rebound” plan. Your media will be essential to a recovery approach that will help your brand rebuild its presence in an altered marketplace.
- Increased time at home means your audience is consuming more TV, video and social media. A well-placed message and shift of dollars to these channels can help you communicate with them.
- Dayparting and time targeting must be rethought and adjusted for your unique audience. We can evaluate your current plan for TV, CTV, search and all digital channels and realign based on new realities of consumer behavior during this crisis.
- Market by market adjustments are recommended based on changing conditions that impact your business. Closures, lockdowns and other geographic conditions can be reviewed to help adjust your plan.
- Supporting visibility and maintaining your voice during the crisis are now the primary goals. Brands must still be good businesses and members of the community. Stay engaged and available through media. For many categories, a focus on direct conversions, visits or other direct response is no longer effective. Instead, reserve these efforts for the rebound plan.
Each Market Category Has Unique Needs
Restaurants and multi-location businesses
Action: Shift away from location traffic-driving media to convenience messaging promoting delivery, pick up or other new convenience service that could be created in order to meet unique needs.
Banking and financial
Action: Brands should consider messages of empathy, of stability, of availability through digital channels with a focus on customer service, not products.
Action: Depending on products, these companies can be instrumental in helping people prepare and remain stable and confident in their daily lives. Design your messages to focus on preparation and understanding the situation hour by hour.
Action: Brands must prepare multiple messages for many audience segments centered on care questions, urgent needs, advice and online resources. Media channels should remain active and varied with frequent optimizations.
Action: There may still be opportunity to drive conversions and provide essential services in this category. People are at home, and transactions are still possible though this may change in the coming weeks.
Travel and leisure categories
Action: Media dollars should be halted for most brands and quickly begin plans for when conditions improve. Reserving these dollars is critical.
Media Channel Considerations
- Consider keeping TV and CTV intact within your media plan. Why? Viewership is on the rise, especially in the news dayparts. It is an ideal time to communicate. With conditions changing rapidly, the audience will remain engaged.
- Digital video remains a powerful way to stay visible during a crisis and is less costly than TV if shifts are needed. It is also an effective channel for experimenting with different messages and targeting depending on your goals.
- OOH media dollars should be cancelled and shifted to TV or CTV when possible. OOH is not where audiences will see your brand in this new situation.
- Don’t rule out radio. Availability is plentiful, and it has become a valuable all-day news source.
- Stay focused on local listings management and reputation management. With changing conditions, companies need to maintain accurate information and hours to help people who are seeking information. Reputation management will also be critical during this crisis time. Respond and be active to maintain a confident, relevant presence with your customers.
- Consider the potential media cost savings especially in TV and radio at this time. This will vary market to market but should be a part of your consideration when your brand is evaluating the role of media in your business during this crisis time and for the rebound.
Next Best Move: Plan for the Rebound
As this crisis unfolds, we will work with you to take swift, intentional action to steward your media dollars. When conditions change and markets and customers return, we want you to be ready with a creative, aggressive media plan to help rebuild your presence and voice in the marketplace. Please lean on your Mindstream Media Group team members to help you plan for the current situation and for the rebound which is on its way.
More from Mindstream Media Group
How Agencies Can Grow Through Strategic Partnerships
Agency Solutions 12 Ways We Can Help You Fast-Forward Wins Scale Pricing Insight Research New Biz Clout Increase Agency Value [...]
A Look Under the Hood, Amazon’s DSP
As the third-largest ad seller in the country, Amazon has secured its stronghold in the advertising landscape. With its millions […]
Meet the Mindstreamer – Amelia Monroe
She oversees the execution of client campaigns, leads a diverse team of specialists and drives year-over-year performance improvement. An adventure […]