NEWS & INSIGHT

31 mar 2020

COVID-19 Impact: VA Consulting | The new role of the advertising industry - Arbitrio

READ MORE: Engage magazine - COVID-19's Impact | The new role of the advertising industry

Strength objectives, efficiency of communication operations and orientation towards innovation: that’s the advice of the company specialized in production consultancy and cost control to face the crisis proactively.

The speed and global spread of Coronavirus have led to a huge change in people's behavior, they act with new patterns that are no longer predictable.

This is testified by different and new ways of working, such as smart working: not too long ago, in Italy, only 2% of Italian employees worked from home, today this percentage is clearly and exponentially growing, also involving those who work, in various ways, in the advertising world.
The watchword for brands is also "flexibility".

How does the advertising world adapt to the changing needs of the COVID-19 world of customers?
In times as inauspicious as those that are taking place following the health emergency, the choice towards which to strive is to optimize investments to weather the storm.
Brands can make a difference, offering a positive and driving vision in the varied consumer habits. This VA Consulting’s advice, the independent firm that offers advice on the optimization of marketing investments.

"In this context - explains CEO Alessandro Arbitrio - the must-have is to maximize the efficiency of marketing and communication operations, evaluating in the most appropriate way investments and channels to be used. Pitch and selection of advertising agencies, TVC production, shootings, events and print campaigns have been canceled or postponed. However, this does not preclude that new opportunities to communicate can be found through digital channels ».
The transition to virtual alternatives is already clear: the explosion of digital consumption (from productivity to chats) with peaks by + 50% in the news and video sector and the e-commerce exploit which, compared to last year, increases even by 20% for the same base, they are proof of this. More and more companies are making their services available through digital apps and tools, which allow the systems to operate and ensure the safety of customers and employees.

"History provides evidence that brands can overcome difficult situations - continues the manager -. Some brands have bravely faced moments of crisis through innovation, customer relations, alternative pricing models and transparency in communications, while many of their competitors have stopped communicating or have remained loyal to old business models without investing in the relationship with consumers and thus losing their trust ».

Cutting the budget for some realities at this moment could be counterproductive, optimizing or reallocating it instead could make a difference in the future. "Our role today as production advisory & cost control, is even more to support our customers, providing them with the right tools to contain costs, helping them to emerge and adapt in such a difficult and inauspicious period of change", concludes Alessandro Arbitrio.