In this global situation of constant change, it is difficult to know what the next move of your business should be. One of the many dilemmas brands are facing right now is how best to tailor their media strategy, not only for the short term but also for long-term success after COVID-19. Below, Axiom Innovation Group will show you the opinions of global digital partner Jellyfish experts share their thoughts and advice on how brands can meet this challenge.

•  Find ways to boost your strategy

According to Steve Mikellides, director of Paid Search, this is the time to adapt the media strategies so that they adapt to the current new scenario, in case you have the opportunity. "From fashion brands, prioritizing their clothing at home, to department stores that promote objects that will enliven the home; by focusing your strategy on what can be most valuable to your customers at this time, you will be in a better position to meet demand. "
Similarly, it's not just about marketing for new customers. As Tania Barr, vice president of brand planning, explains, "Ideally, brands would use these circumstances to consider fresh and relevant strategies to build" goodwill "with existing customers, especially if you find yourself in an industry where prospecting doesn't have much. Since right now. "

•  If you are advertising, think about your message

It is not difficult to see the widespread impact that COVID-19 is having in all markets and sectors. As Daniel Wilkinson, Solutions Director - Paid Media explains, "For many brands, the impact on advertising is far less worrying than the economic and health challenges that everyone is facing." Steve also agrees: "If brands cannot maintain their marketing activities, then reducing investment is the only option."
But for brands that can continue to invest in advertising, Daniel recommends that you think carefully about which messages to use, drawing inspiration from those who are already listening and responding successfully to today's conversation, for example. As he explains, "One positive thing we are seeing right now is that brands are using their influence to spread important messages: Nike's slogan 'Play within, play for the world' is a great example of this."
So how can companies ensure they use the right tone and sentiment? In light of the current situation, Tania believes there are "some important questions that brands can ask themselves, around their business opportunities and their ability to contribute in a valuable and responsible way." By doing this, he believes that brands can design a "smart and responsive marketing plan around targeting, media, and messaging" that could ultimately help increase their connection to their audience.

• Take the opportunity to assess your digital maturity

James Parker, Director of Solutions - Data & Planning, hopes this situation prompts some brands to recognize that they need some form of digital transformation. As he explains, "I think now is the time for companies to understand what their digital maturity is and where their gaps are, and then understand their data and help bridge these gaps."
Tania agrees: "In the long term, everyone will need to embrace a more digital world, and therefore digitally mature media strategies will become the norm."
Daniel believes that now is also the time for companies to review their technology in relation to media and advertising and see if they are configured in the most beneficial way. Echoing James and Tania, he says, "If they can, brands should step back, review their current practices and implement some digital transformation opportunities they have been avoiding so far."

•  Make the most of the drop in costs of advertising space

If you continue to run some of your media campaigns, James predicts that you will probably notice some changes. "Because the cost of a large proportion of digital ad space is auction-based and programmatically purchased, supply and demand strongly influence its price. Therefore, I hope that some media will deflate their prices as companies reduce their spending, because there will be more spaces and fewer bidders. "
Daniel agrees. "There are numerous notices from publishers of cheap media space availability. If brands are in a lucky enough position they can sign up for future media contracts at a much better price than they would normally get."
But James also predicts that, for some companies, the opportunity to run campaigns could be affected by COVID-19, regardless of whether they have the budget. As he says, "In some sectors, ad space will disappear due to lack of content creation."

•  Prepare to act when things recover

For those who can bear the cost, James' advice is to make the signs "light up in a way that means that when you see grass buds, you can react quickly." As he explains, "One way I think you will receive a strong early warning signal that things are recovering is to have a small amount of PPC activated. Then you will quickly get consumer feedback on how they feel."
To get the visibility you need to take action, James recommends keeping brand, shopping and generic campaigns running, albeit on a smaller budget. "Instead of just running your branded campaigns and disabling the other two, I would recommend spreading your spending across the three campaigns. That way, you'll still have a complete view of what's going on, and you can spot changes in consumer behaviour in every stage of the situation. "
And it's not just about weathering the current storm. Tania believes that companies will also need to appreciate longer-term changes. "When brands begin to see the end of current conditions, they may need to have deeper business conversations about whether business models have fundamentally changed, or only temporarily. For example, if a significant new base has discovered their online offering. After having to go offline, should future growth strategies pivot this way? "
Tania predicts that as we face a potential future of intermittent periods of isolation around the world, the need for companies to change their thinking will go beyond media decisions. "Brands may want to start considering how they can offer consumers more flexibility and peace of mind in the future, whether it's better cancellation and deferral conditions, or faster delivery of physical products, for example."
Finally, Steve hopes that brands appreciate the lasting impact COVID-19 can have on social attitudes and priorities. "In the future, it will be beneficial for brands to think about how they should attract customers after COVID-19. What will these consumers care about that they didn't before? Doing this well could make a difference in terms of success of the brand in the future. "
 
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