Page 38 - AdNews Magazine Nov-Dec 2020

Investigation
“A lot of people were questioning why they should advertise more broadly and
why they should continue to invest in their brands.”
CMCO, SCA Nikki Clarkson
a more profitable business model than they had prior. Travel providers lose 95% of their market [international tourists] and repackage their offering to serve local tourists. Restaurants sell more meals [more profitably] when they could not seat diners.
“The common thread of these success stories is positivity; being willing to take a hit on the chin, a focus on looking forward, not back, and a willingness to roll up the sleeves.”
Lawrence says marketing and business leaders who are bigger pic- ture thinkers and less prone to short-termism will win the battle. “C-suite that expects miraculous results from marketing teams will set their businesses up for failure,” he says.
And next year will be more of the same.
“I am not an economist or a doctor, but the reality is that we are in for the long-haul,” he says.
“Many of the changes we have experienced in 2020 will become struc- tural. Work from home more common, tough economic conditions, increased anxiety and trepidation in the market.
“Marketers that embrace the challenge, are realistic about the obstacles and look forward rather than back will come out ahead.”
Stephen Leeds, The Media Store CEO, says reduced budgets have caused revenue pressures for media owners/publishers. As a result, jobs and publications have been compromised.
“There was uncertainty initially, which probably caused cancella- tions and budget freezing,” he says. “Others used it as an opportunity to invest in their brand. As time progressed and we observed consumer sentiment and behaviour adjusted, we saw brands return, with many identifying new ecommerce opportunities.
“Certainly the focus on ‘digital’ platforms became prevalent, but traditional media such as television and radio, which saw audience growth, were able to offer captive audiences, and demand for their inventory has been strong since the mid-point of the year.”
Steve Sos launched premium music video platform Vevo into Australia and New Zealand in February. “The last thing we imagined was that we were doing so straight into the teeth of a pandemic,” says Sos, the local managing director.
“The silver lining for us has been that while studios shuttered, sport was cancelled, networks struggled with content and people increas- ingly remained at home, we found music videos became a powerful force in people’s lives, bringing households together and reminding people all over the world of better, more normal times.
“That reaction was very positive for us and allowed us to build the foundations for a very successful commercial business despite the prevailing climate. We’re looking to carry that forward as we work on new partnerships in the region, both distribution-led and commercial in nature.
In September, Vevo announced a distribution deal with Telstra. “Growth is still possible, even in these difficult times,” says Sos.
“I think 2021 will remain challenging but we will have the benefit of hindsight from all that we have learnt through 2020. I think the market will remain short and traditional deal structures and terms will be challenged as marketers and brands look to appropriately seek assurances, guarantees and protection from what is likely to be more uncertainty.”
Indoor to outdoor
With everyone ordered indoor, the outdoor media industry was on pause. John O’Neill, CEO of QMS Media: “We knew it was a big wave coming and that with careful and smart planning we would come out the other side even stronger than before.
“As audience numbers are quickly returning to pre-COVID-19 levels in all markets (excluding Victoria) so is advertiser confidence.
“We are seeing brands embrace the broadcast nature of OOH as a key component of their rebound strategies and a vital communication tool