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COVID-19: Navigating the new normal in media & beyond
19 May 2020 10:50am
With media plans torn up, marketing budgets on hold and consumers in lockdown, there’s no doubt advertisers are facing an uphill battle when it comes to growth in 2020.
On Wednesday 6 May, The Kite Factory’s Head of Strategy Rik Moore and Senior Strategist Will Richardson were joined by Lucy Gulliver, Client Development Lead at Channel 4 and Dr Simon Moore CEO of Innovation Bubble for a live discussion on the impact of COVID-19 on the media landscape and how brands can navigate the new normal.
Three key considerations we took out of the talk for you to consider over the coming days:
As this ‘new normal’ becomes less new, use context to increase your advantage in media.
For media, context has never been more important. All channels are now viewed through a “home first” lens, with the role of that space shifting throughout the day, be it workplace, gym, nursery or place to relax. It has challenged definitions of what constitutes ‘digital’ and ‘offline’.
Achieve improved performance by empowering agility in your business.
Channel 4 have responded well to the crisis. Lucy talked about all the different tactics they had deployed to help the numerous groups they serve. Sat at the heart of this was the creation of an Internal Crisis Group within Channel 4, who were tasked with finding agile solutions, enabling them to adapt quickly.
Be a reassuring, consistent voice in your customers lives, to maximise relevance at this time.
Simon talked about how psychologically, in times of stress. crises and uncertainty, humans adopt a convergent decision strategy. In other words, they disengage with new proposals and ideas (what they might gain) and their focus instead becomes centred around what they can maintain, to minimise loss.