The pandemic has changed how agencies and advertisers interact with each other

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 20, 2020, 3:11 PM UTC

The damage to the global economy has upended the status quo across verticals.

The pandemic has caused irreversible changes to both advertisers and agencies’ businesses. Traditional growth drivers like consumer spending and corporate investment are likely to remain volatile for the rest of the year.

It has forced businesses to start seeking transparency in ad-tech, squeezing media budgets, which led to media reviews and finally putting a hold on adverts indefinitely. Meanwhile, top brands like Honda and Starbucks are among the top advertisers who are at various stages of media reviews.

However, “Marketers don’t expect things to stop changing, but they are looking to feel confident – and find stability,” said Annalect’s Iain MacMillan. They want agencies to help them recalibrate media strategies to broader corporate-wide digital transformation agendas.

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