How can advertising agencies respond to the current climate?

Madhavan Sankara, Founder and CEO, Madarth, addresses the question on the entire advertising industry’s mind – how to reboot the industry as India gears to get out of lockdown mode and living with the Coronavirus in our midst for a long time.

This pandemic is a ‘reset’ button to the largest of the world. Fortunately, no missiles are falling over our homes; nevertheless, the economic situation is like in the war. Reports say that 85% of advertising spends has fallen. Of course, advertising is not ‘essential’ now, but soon, the world will get back on its feet. Irrespective of the massive economic impacts that COVID-19 had caused in the world, remember we live in a connected society. This means, advertising will get back – this time more concerned and connected.

I want to prime you about two essential things in India:

Consumer’s everyday habits have changed forever. Disrupted supply-chain is going to take time to be on shape again with this migrant population’s displacement. So, how can agencies handle switched consumer habits on the one hand and operationally struggling businesses/ brand, on the other side?

The solution:

Any agency’s primary job now should be to ‘help’ the client’s brand to stay authentic, not relevant. Subconsciously, nobody wants to be relates to these times. Few categories of brands can be of help to a large portion of people during these times. Super, do not laud this, make this entirely real and make the brand look genuine to its audience.

For the rest, help them make long-term decisions rather than banking on short-term advantages. Consult with your clients to leverage this crisis and build resilience. Minimise your efforts on digital-marketing and get into digital-branding. 

Digital Branding:

Digital marketing seeks to spread the word about a product, and it is sales or lead-based. Digital Branding communicates the essential values of your clients. It underlies all of the company’s efforts and asks consumers the find the personality of your client’s brand. With digital branding, you don’t speak to your consumers; to some degree, you connect with your clan. 

Ask these questions to yourself:

• Is our agency adding value to our client-partners?
• Can we together help our audience at large in these times? 
• Are we making our client’s brand a habit or reverence? 

It is vital to answers these questions, because there’s a good chance many habits will not survive the current climate, but rituals will.