Browsing Tag

Pandemic crisis

A 2020 Retrospective on Becoming a CMO in 2020

My path to CMO has been an unconventional one, and that it officially happened during what is surely to become one of history’s most distinguished years is no surprise to me. For the rest of you on a decided and determined path, I implore you to keep in mind one thing I’ve learned over and over again: no amount of strategizing can stand in for the element of chance -- the future's not, and will never be, entirely predictable.  BUT we can prepare for the unpredictable. In this article, I’ve outlined a little bit of my…

Managing a Travel Budget in a Downturn: What We’ve Learned and What you Should Know

When a crisis hits with the scale and voracity as COVID-19 struck the travel and hospitality industry, a natural adjustment to the advertising budget occurs. The degree to which a brand decides to turn off the faucet or at least allow a drip in ad spending may help determine how quickly and efficiently they get back into the market.  In the weeks following the initial blow of the COVID-19 pandemic, we’ve seen clients deciding to drastically reduce spending and even pause their programs entirely and stockpile their budgets…

Marketers: Keep Calm and Follow the Data in the Pandemic

As of this writing, no one knows for sure how bad the economic fallout of the pandemic will be. The news isn’t encouraging. These aren’t your grandfather’s jobless numbers. Oh wait, they are — if your grandfather was alive during the Great Depression. The economy has taken a hit, and people are scared. Even Google is thinking about cutting marketing budgets in half and implementing hiring freezes, according to CNBC. With so much economic uncertainty, panic is understandable, but it’s still counterproductive. The right way…

How to Make the Most of Your Marketing Spend in the Current Economic Climate

The COVID-19 pandemic has been catastrophic for businesses, and it has left marketers scrambling to adapt to a completely new landscape. Customers are no longer where they were. Their spending priorities have gone topsy-turvy. And the future has become incredibly difficult to predict. When you combine all of this with shrinking sales, your marketing budget becomes extremely precious. It’s important not to decrease your marketing spend, but how you spend each dollar could mean the life or death of your firm. But it’s…