COVID-19 IMPACT:

Marketing and Advertising

Industry Update: 30.09.2020

Vertical: Marketing and Advertising
Type: B2B
Covid Impact on Demand: Positive
Covid Impact on Ability to Supply: Negative
Viable Transition/Readjustment: Yes

We’re just ordinary people.

The business world now recognises that pandemic conditions are here to stay.

SoPro have direct access to several hundred B2B marketing operations, spanning 60+ verticals. In recent weeks we have seen major movement in global sentiment, shifting from defensive tactics to proactive strategy as realisation sets in.

We are now witnessing the largest and most complex change management project in the history of humankind.

The worlds businesses are rapidly readjusting to compete in a new world. Here’s how.

Marketing and Advertising, what are we seeing?

We are seeing a huge shift in channel use. All offline channels have been severely disrupted with some showing little or no signs of recovery. Meanwhile, digital is booming. Businesses have subsequently adjusted at short notice to meet marketing goals using a predominantly digital channel set. Often requiring third party support.

Marketing and advertising agencies and have had a rollercoaster ride as COVID-19 has rendered entire sections of the client base non-operational. Budgets have been frozen, reduced or in some cases ramped up. Contracts have been lost and new clients have been won, The dust is beginning to settle and frozen budgets are beginning to unlock… but the landscape is very different.

The initial nervousness of client marketing teams eases as the majority of sectors chart their course back to business as usual. We are seeing brands utilise user-generated content for TV ads and work more with influencers to build their social media presence. The search for compelling content continues. Never has this sector’s creativity been more needed.

What do these businesses need to do now?

1. Adjust your business targeting

Our marketing and advertising customers are refocusing to reduce dependency on the most heavily impacted sectors while expanding to service previously unsupported sectors based on demand.

Larger businesses in particular are being challenged to meet sales and marketing forecasts with several traditional channels either unavailable or ineffective. This is leading to unspent budget and increasing urgency to rebalance year to date sales deficits with digital engagement solutions.

If your business has transferable skills, then now is a good time to flex your muscles and stretch into new digital specialisms to service the rare mix of demand scenarios arising.

2. Review your marketing channels
MARKETING CHANNELS VIABILITY
B2B Direct Mail

NOT VIABLE

Telesales

NOT VIABLE

Paid Search

PARTIAL VIABILITY

Networking dinners/drinks & Partner Events

NOT VIABLE

Tradeshows and Exhibitions

NOT VIABLE

Radio

PARTIAL VIABILITY

Awards Circuit

NOT VIABLE

Digital Outreach i.e. B2B prospecting

VIABLE

3. Revise your proposition

Identify high demand sectors that you can service. Accentuate the competitive advantages that you can offer over and above your competitors and explain why these are important now. If possible, tailor your offering to directly help prospects capture and service the current demand levels and unspent budgets. Ensure digital formas a large or core part of your offering and meet possible objections by explaining how digital is providing most of the COVID-19 workarounds right now. Capture urgency by configuring accelerated service models to meet tight deadlines and demanding briefs.

4. Revise your messaging

Revise messaging to set out how your proposition directly contributes to overcoming prospect’s current challenges. These include:
– Migrating to and employing digital first marketing until further notice
– Clawing back against year to dates sales deficits
– Replacing offline channels with digital engagement models
– Being able to move FAST.

Demonstrate an understanding of the challenges of their market.
Set out attractive commercial terms if able.

5. Drop the experts a line

At SoPro, business growth is what we do, and we've got the tech and team to quickly generate a healthy pipeline for your business. Our expert team are ready to discuss your campaign today.

Watch Our Video Case Studies

“One of the great things about working with SoPro is the dedicated team of professionals we have at the other end of the phone... For us, there really is no question. Having a prospecting service is vastly more beneficial than just having the tool. Put simply, it’s transformed our business.”

Nick Washington-Jones, Managing Director, Tack UK

Our Totally Bonkers 60 Second Explainer Video

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