Simon Gwynn
Apr 7, 2020

Four in five multinationals are deferring campaigns

Same number are creating new messages that respond to impact of pandemic on people's lives, says WFA survey.

Four in five multinationals are deferring campaigns

Multinational companies are overwhelmingly choosing to delay planned campaigns as a result of the coronavirus pandemic and the slowdown in most forms of consumer spending.

In a survey of a group of major brands by the World Federation of Advertisers, 81% of marketers said they were deferring campaigns. Most are planning relatively short delays, with 34% having initiated a delay of one to two months and 28% delaying for a quarter. But 13% said they would wait six months before resuming their campaigns.

More than half (57%) of participants said they were cutting their spend. That is despite a large majority (79%) saying they were creating new messages that respond directly to the impact of the crisis on their consumers.

The WFA surveyed 32 member companies across 10 sectors, with a collective annual marketing spend of almost $60 billion. Of the respondents, 69% had global responsibilities, with others in regional roles.

In a separate poll carried out by the WFA of 58 media leaders, they anticipated an average fall in media budgets of 23% – with one in five respondents expecting cuts of 40% or more.

Stephan Loerke, chief executive of the WFA, said: "Despite the huge constraints on our members’ businesses, I believe we are witnessing brands mobilising with empathy and utility on a scale hitherto unseen.

"Brands around the world are adopting very human, often brave, approaches to supporting society at a time of dire need. Critically, many are equally showing solidarity to their agencies and partners, understanding that their supply chains need their support now more than ever."

Source:
Campaign UK

Related Articles

Just Published

1 day ago

Purpose, laughs, and boppable tunes: Spikes jury ...

SPIKES ASIA X CAMPAIGN: Presidents and members of several Spikes Asia juries share the top trends they spotted in the jury Zoom rooms, with video examples.

2 days ago

Crash Course: How to tell engaging short-form stories

To round off a week of creativity-themed content during Spikes Asia X Campaign festival, this Crash Course provides useful tips on how to build story arcs and create thumb-stopping campaigns for short-form.

2 days ago

Lessons from Tesla, Apple and yoga (yes, yoga) in ...

SPIKES ASIA X CAMPAIGN: Creatives need to drive relevance for sustainable options, instead of virtue-signalling about sustainability, argues Gulshan Singh of FCB Interface.

2 days ago

Spikes Asia Awards 2021: Campaign's contenders 3

As the juries make their final selections ahead of the March 1 winners announcement, Campaign Asia-Pacific's editorial team has once again scoured through the 2021 shortlist to pick out the work we expect to win.