The world is still in shock. The devastating effects of the virus have not spared any business, industry or economy. While all have been feeling under the weather, some have been affected harder.
The challenges are in many cases unique and all set to shake the very foundation of businesses, even those that had seen their share of good times and the bad in the past. The advertising industry is one such. But there is still a future...
No growth without it
Survival and sustenance are what matters now, and in the quest for that recovery, marketing is still going to have a role. And that is where advertising and marketing agencies will remain in play.
The irony is, though advertising is seen as vital, ad budgets were the first to be slashed and media platforms, irrespective of whether they are traditional or digital, have felt the full force of the punch.
The question for ad professionals is what sort of lasting impact the virus will have on brands and how branding will reshape itself. As marketers, we need to remember this is not the last crisis the industry will face. A brief glance over history shows crises have been an integral part.
The interesting thing is each crisis has helped the movement forward once a recovery is sighted. Crises will force marketers to think differently and that’s not necessarily a bad thing.
Put out the word
Marketers and ad professionals have always been entrusted with the responsibility to draft solutions that are going to be relevant and different. Brand custodians have to take to a new world order in full. The one style fits all messaging is long dead.
It is time the dynamics of the agile world of new media is fully understood. Almost all routines – from work to worship, entertainment to learning, saving to spending - have migrated online and it is time brand builders exploited the opportunities to its maximum. It is a challenge that needs to be faced head on.
Marketers also face the task of build a lasting engagement - or at least as long a one as is possible.
Engagement has to be gone over at multiple levels, Pre-emptive solutions, without losing out on relevance, are the need.
Sure, ad agencies will see a substantial drop in revenue and most of the traditional media vehicles will be overlooked. But we owe it to clients to create more value... and that is no small responsibility.
As someone once said, when everyone around you is quiet, your voice will be heard, even if it is a whisper. It is our responsibility to make the voice of our brands to be heard loud and clear.
- Sunil Roy is with Publilink Advertising.
