How CMOs Can Optimise Media Strategy in the FMCG Market 2020
The virus has affected every advertiser, but how should they change behaviour?
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COVID-19 has impacted FCMG producers in three significant ways
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The actions we need to take are highly dependant on sector
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Every media channel is affected by COVID-19, impacting immediate strategy changes we should implementing
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Digital focused plans have the flexibility to adjust spend quickly to optimise short term demand and minimise loss if demand shifts
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Example for the Demand Boost Brand: maintain reach levels by only reducing spend slightly, capitalising on better buying rates
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However, into September October costs will be around 20% higher which changes our response curve again
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Key Overall Takeout’s
Speed
Working with your analytics provider quickly is key here. Leveraging data and speed will lead to the best strategy and ability to react to the market by group
Different Impacts by Channel
Changes in demand and costs for each media platform will change how we need to laydown the media mix in alignment with the demand for the specific brand and group
Taking the Long Term View
It’s vital to plan for the long term and use the present to prepare us for the future – however as long as shoppers are encouraged to stay home, total FMCG sales should be expected to experience continuous growth
Sources:
- Campaign Magazine, Marketing Weekly, JKO Collective
- Financial Times
- Statista, Nielsen, Marketing Week, JKO Collective
- Office for National Statistics, All retail
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