Benchmark: Covid-19 Impact on Marketing
This WFA member benchmark covers how members are reacting to the Covid-19 crisis and if/how it has impacted their marketing strategy.
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Update: WFA has completed a more extensive survey, with input from senior multinational marketers, on how they are reacting to the global Covid-19 epidemic.
The survey can be accessed here.
A WFA member reached out regarding the ongoing 2020 coronavirus (Covid-19) crisis. The member was interested in understanding the impact on Marketing Plans for 2020, specifically across:
1.) Marketing Campaigns:
• Have these been deferred?
• If so, by how long? (a month, a quarter, half a year, indefinitely....)
• Marketing Budgets: Have you reduced or are you planning to reduce marketing budgets?
• Media Budgets: Have you reduced or are you planning to reduce media budgets?
3.) Media Plans:
• Are you planning to reduce spends across particular media channels?
• Are there any media channels you might be planning to spend more on?
4.) Influences & Impact:
• What factors are you currently considering when it comes to reviewing/revising your marketing plans for the year?
5.) Would you have any additional advice / recommendations to your peers?
The questions were posed to select WFA corporate members with expertise in this area.
14 WFA members responded.
Members can download the full report containing all responses here.