Marketing During A Pandemic: Are you a Burger or a Pizza?
Studies from numerous recessions over the decades have shown that companies that maintain or increase their advertising actually perform better both during and following an economic downturn.
Take the 1990-91 recession for example. Similar to the 2007-2009 recession, the early 90s recession was caused by an increase in oil prices, war in the Middle East and a declining property market. During this time McDonalds took the decision to cut advertising spend, while Pizza Hut increased advertising spend. The results showed:
- McDonalds suffered a 28% decline in sales
- Pizza Hut increased sales by a huge 61%
As with ‘the year of COVID’ the same approach should be adopted. Rather than shy away from talking to your audience and cut marketing spend, now is the time to remain consistent, to let your brand voice be heard and to let customers know you’re resilient.
Although certain sectors will suffer at the hands of the pandemic, it also presents an opportunity to safeguard a brand’s position in the marketplace and even increase market share.
In marketing we must consider the ‘noise’ of competitors:
- What are the key messages?
- What are the differentiators?
- Which channels are being utilised?
- When is noise being made?
- How often is noise being made?
If you follow in the footsteps of Pizza Hut and look at the bigger picture, the long game; it presents the opportunity to cut above the noise of competitors who have taken the McDonalds’ approach and decreased or cut all marketing spend.
As with a number of manufacturing and engineering sectors, the sales lifecycle can be timely, from a few months to a few years in some cases. Therefore, implementing a long-term marketing strategy allows you to maintain momentum across marketing channels, reaching a larger audience, increasing brand awareness and ultimately increasing market share.
Be like Pizza Hut…contact Conception today to discuss your long-term business objectives and marketing strategy. Our team brings a wealth of experience across all marketing disciplines, essentially providing a marketing department that works as an extension of your business, working together to reach your goals.