This article was originally published by Brand News and has been translated into English.
The situation outlined by Marco Girelli, CEO of Omnicom Media Group Italy, is even more severe than that suggested by the respondents to the BrandNews survey: a drop close to -30% in March, a sinking that reaches 60% in April and then a potential recovery in May of -40%. This could mean a slow recovery that could bring the end of 2020 in a gap between -20% and -25%.
“The car market has stopped, but consumer goods have also blocked investments because so much communication was strident. Important variables include the cost of raw materials, blocked exports, the protection of workers and the re-modulation of production cycles. These are the challenges that companies will face”.
What will happen in September?
“I think it will be a slow restart, although I hope for an unlikely V-shot. It will be a turbulent market and the big races will commence. Some have not stopped, even during these weeks. Autumn could be a time of great opportunities and innovations as there will be the need to find a new way to do things, to review communication strategies and adapt to new tools”.
Working from home
“The coronavirus has made us understand what agile working is. It has made us experience how technology allows us to connect with people, but it has also made us realise how important that contact really is”.
“Another interesting aspect is the forced digital literacy of a large section of the population. This will influence our future communication strategies. Normal events will return but with a new balance, and this will also change the way we build communication strategies and adapt to new tools”.
For Girelli, this is the time for brands with a purpose. It is the recovery of forgotten values and for concrete things. “Time will tell if these changes will consolidate, much depends on how much memory people have”.