Brand Keys has developed an emotional assessment tool that measures whether – and how – brands should advertise right now.
Our April 2020 survey found 78% of sectors should be advertising the hell out of their brands, albeit with new strategies and creative. Brands that do that now will see long-term sales boosts – but will need to adapt and identify new strategies and messaging.
How do we know that?
Nearly half a century of marketing history proves it. Brands that continue to advertise during bad times do better than brands that cut their budgets. Here’s what happened:
1973 Energy Crisis: Automotive brands that increased advertising became sales leaders within 6 months.
1991 Oil Crisis & Massive Job Losses: Brands that increased advertising saw sales go up 40% – 60%. Brands that cut advertising saw sales decrease 25%.
2002 SARS Crisis: Cost to world economy was $40 billion. Companies that supported brands saw sales increases of 28% – 35%.
2008 Financial Collapse & Massive Recession: Overall brand support dropped 15%. Brands that increased efforts saw sales grow 30%.
Want to see increases like that for your brand? It means continuing to promote your brand, but well beyond the message: “we’re all in this together.” That’s nice, but you’re going to need a lot more than that.
If you’d like to know how your brand can better ride out this crisis, reach out to Leigh Benatar at leighb@brandkeys.com or Robert Passikoff at robertp@brandkeys.com
Be well and be safe.
Find out more about what makes customer loyalty happen and how Brand Keys metrics is able to predict future consumer behavior: brandkeys.com. Visit our YouTube channel to learn more about Brand Keys methodology, applications and case studies.
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