Media Insights
Marketer’s Guide to Navigating COVID-19 | Edition 2
In the next edition of our guide to navigating COVID-19, we are highlighting the topics and discussions we are having with our clients this week. We are finding that succeeding in today’s environment requires accurate data, creativity, and a nimble and agile approach to marketing and media decision making.
In Edition 2 of the Marketer’s Guide to Navigating COVID-19, we are surfacing the conversations we are having with our clients – what’s top-of-mind for them right now and what we’re recommending in order to succeed in today’s environment.
What Should You Be Thinking About
We summarized the actions and questions that marketing leaders should be asking themselves right now. These are based on conversations we are having with our own clients in light of this week’s macroeconomic developments and performance trends.
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BUDGET PLANNING
What to do:
- Communicate ROAS targets by channel.
- Ask yourself if there is any headroom to manage to a 1:1 ROAS.
- Develop multiple budget reduction scenarios.
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INVENTORY POSITION
What to do:
- Understand if your fulfillment centers are at risk of being closed as states adopt shelter-in-place policies. Some states treat fulfillment centers as essential businesses, keeping them open despite shelter-in mandates, while other states
are not. - Understand what inventory levels you are committed to (and what you can back out of) and incorporate these goals into your media plan.
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PROMOTIONAL DISCOUNTING
What to do:
- Align on your promotional and discount strategy in today’s environment. For some of our clients, a deep discount (60%+ off) is a question of when, not if. We are seeing positive momentum with deep discounting to capture sales while consumers are still shopping.
- Consider flash sales to drive urgency and control risk.
Ovative is a digital-first media and measurement firm seeking to transform the measure of marketing success. At Ovative, we help brands move the needle. We are curious. We value your brand. We want to see you succeed. Connect with us to learn more!
Download the guide here.
