We don’t need to give you the typical introduction to the situation at hand. You all know it’s not the time for business as usual.
From top to bottom, across all verticals, even brands or industries that had thought of themselves (perhaps not entirely incorrectly) as “disruption-proof” have found themselves needing to adjust to a new landscape that seemed unthinkable even a few months ago.
And among the things that makes the current situation so damaging is the sheer uncertainty of what we’re dealing with, and what comes next.
That idea of uncertainty is one that I’m certain you’ve heard a lot in recent weeks.
It’s something we’ll come back to later in this post, but first want to highlight our effort to clear up a bit of that confusion in the form of our recently-released report.
I’d like to specifically address a question that we asked in an effort to gauge how marketers, as well as your agency partners, are adapting to the still-evolving situation.
First up: the marketers.
Not surprisingly, we’re seeing shifts in spending.
In fact, 61% of marketers we surveyed are either somewhat or greatly reducing marketing. This suggests that money is still going into your marketing efforts (rightfully so), but that significant changes need to be made for a leaner, more efficient operation.
This calls for creative solutions from your agency to be a resource and help you navigate the hurdles now and in the coming months.
Speaking of agencies: let’s see how they’re reacting to the situation in relation to their own operations.
While I can respect the resilience, now is not the time for “business as usual.”
With 61% of these partners making only a few changes (if any at all) compared to the 70% of marketers that have adjusted, paused, or abandoned campaigns, the disconnect is clear.
As we talked about a few weeks ago, the time is NOW for agencies to be working with you to make a difference.
Beyond the budget considerations mentioned above, now is the time for your a.ency to step up to the plate with new ideas and a sense of purpose.
They can’t just push on as if this is just another bump in the road. Generic messaging will win you no market share in this environment. In addition, marketers simply trying to “weather the storm” with the same old formulaic processes will find themselves falling behind brands that adapt.
Find a path forward, and ensure that your agency is able to help you chart that course.
If they’re not willing to make the adjustments necessary to help your brand through this crisis, then they’re likely ill-equipped to face the challenges that lie on the other side of it.
We’ve got plenty more insight into how your fellow marketers, as well as those on the agency side, are reacting to the COVID-19 crisis in our report. You can download it here.
As always, if you’re looking to find a marketing partner that can help you navigate the landscape both now and down the line, we can help.
We recently introduced a “Sprint Search” option that gets you a list of best-in-class agencies tailored specifically for your business scope and objectives.
For more information on our traditional search process or the streamlined Sprint Search program, feel free to reach out via email (msneider@rswagencysearch.com) or by phone (513-293-6785).
