It can take up to five years for a brand to recover its previous market share when they stop advertising, as per the Advertising Research Foundation.
This piece suggests marketers align their media planning budgets with consumer behaviour, as customers’ methods of engagement are shifting amid COVID-19. Discard irrelevant data and use machine-learning algorithms to learn about new behaviour changes among consumers impacted by the pandemic.
Focusing on awareness-based indicators like search volumes and consumer sentiments rather than short-term sales is recommended. Companies that focus on building awareness stay top-of mind as consumers resume regular purchasing post-COVID-19.
Companies must continue their marketing efforts and maintain steady ad spending to retain market share. While it is acceptable for brands to continue business as usual, avoid tone-deaf marketing plans, and consider sharing kind messages on social media to empathise with consumers.
[4 minute read]