Electronics Weekly has released an ‘Advertising in Crisis’ whitepaper which focusses on understanding whether advertising in a crisis is truly worthwhile. The whitepaper explores the impact on both immediate and longer-term companies’ decisions to either cut, freeze or increase their marketing spend due to the COVID-19 pandemic in 2020, by analysing the performance of campaigns across numerous sectors.
The analysis provides some interesting results, finding that there was a significant impact on website performance when reducing marketing spend, as ‘company A’ chose to cut their advertising spend by 90% for the rest of the year. This resulted in seeing the number of total users being 84% less than in 2020 compared to 2019.
When comparing company A to company B, which chose not to reduce their advertising spend, Electronics Weekly has found that company B increased its market share in 2020; and whilst company A retained just over 16% market share, Company B soared over 80%.
The whitepaper reveals some intriguing results, presenting a clear correlation between reducing marketing spend and seeing an immediate impact on results. It’s also interesting to see that the decision to reduce marketing spend can actually provide competitors with an advantage, which is why its vital to maintain momentum and visibility even during a crisis.
To read the full report for yourself, please click here.