Focusing on the cost crisis will only increase anxiety among your target customers. Brands are far better off highlighting their quality and reliability in times of uncertainty.
Half of marketers also believe their business is not doing enough to support them as the inflation crisis bites.
Rather than opting for blanket promotions and slashing prices, marketers are advised to tap into the power of behavioural science.
Patience, open communication and human contact are crucial when navigating price changes in the B2B world, particularly in the current climate.
The effectiveness expert warns marketers to stop “neglecting” price and start thinking like economists.
New data highlights the strategies that succeed in a recession and why advice to avoid going dark is too blunt.
Businesses in “victim” sectors should work out whether investing to secure additional share of market during a downturn is worth the cost, argues econometrician Grace Kite.
Only a “tiny” proportion of promotional sales are shown to be incremental, which means most price promotions actually reduce profits, Binet explained.
As UK inflation exceeds 10%, could the cost crisis fuel a boom in retail media as brands go in search of targeted promotions aimed at cash-strapped consumers?
Supermarket private labels increased their share of food sales from 35.8% in the second half of 2021 to 37% in the year to May 2022, according to new data from IRI.
The rising cost of TV might offer advertisers an opportunity to redefine how they measure the value of different media, industry experts suggest.
As inflation hits record highs, showing solidarity with shoppers, refusing to sacrifice innovation and following customer data closely could help brands survive.
From retaining a long-term view and the importance of excess share of voice to making strategic changes to positioning and saying no to failure, our columnist spells out how brands can navigate recession.
Boasting its “biggest ever bundle of savings”, Boots plans to offer up to 50% off discounts on its most popular brands identified via customer research.
Investment is particularly being made behind the Robinsons brand, which the business expects to be “challenged” by private label brands next year.
The drinks giant’s core strategy for dealing with the likely challenging economic environment in 2023 will be to “lean into growth”, its CEO has said.
Unilever plans to continue increasing marketing spend until the end of 2022, as the business fights to maintain market share in the current inflationary environment.
Rising costs and price inflation will drive businesses to seek cuts and save margins, but marketers must ensure investment behind the brand is sustained.
As Aldi and Morrisons battle to be the UK’s fourth largest supermarket, both grocers are investing to keep their prices low amid the rising cost of living.
The whisky brand’s aims for the next year are to drive cultural relevancy, enhance its physical experiences, and “transform” digitally, according to its global marketing director.
Could “commercial creativity” be key to surviving record breaking inflation? Burger King and Heineken explain why investing in innovation now will pay off later.
The IPA Bellwether shows marketers are feeling increasingly pessimistic about the future fortunes of their companies and industries, with budget cuts beginning to roll in.
Marketing budgeting is flawed. Marketers are more confused about budgeting than ever before. Here’s your complete three-step guide to fixing it.
As inflation takes its toll, marketers should get the whole business involved in the conversation about how to be smarter with budgets, says Paws.com marketing boss Adam Lawrenson.
Setting budgets for the year ahead is never an easy task, let alone during periods of economic uncertainty. But the data shows there are three clear steps marketers can take now to ensure their spend pays off next year.
CFO Michael Snape and CMO Pete Markey agree strong relationships between marketing and finance are built on relentless communication, data and understanding how marketing fits into the broader agenda.
To avoid missing out on opportunities as a result of not getting the required investment, our marketer on the inside recommends stress testing the plan before going into the boardroom with the aid of five key questions.
On the Beach’s CFO Shaun Morton and CMO Zoe Harris agree the best thing a marketer can do to build a strong bond with finance is show how they can help the business deliver the P&L.
Changing prices in real time to reflect costs and demand is the ideal way to maximise profitability, but only if your customers don’t see it as a raw deal.
Weetabix’s marketing lead Francesca Theokli on why a breakfast cereal sponsoring football makes more sense than you’d think – and why marketers hold the key to navigating the economic downturn.
Sainsbury’s saw a return to volume growth in its most recent quarter, with CEO Simon Roberts suggesting its investment in lowering prices has helped to improve value perceptions.
The second-half of the year will continue to see investment under scrutiny, with macro-economic circumstances continuing to put media budgets under pressure but that doesn’t mean there isn’t room for optimism.
Consumer confidence is in the best place it’s been for 17 months, but marketers are urged to continue exercising caution as it “could all get far worse”, according to the latest data from GfK.
Supermarkets have faced allegations of “profiteering” and failing to pass on price decreases to consumers amid the cost of living crisis, despite major investments into price and discounts from many of the big players.
As part of a new mini-series looking at the different stages of planning, from strategy setting and targets to budget and ambition, our marketer on the inside shares how to overcome some of the common pitfalls.
A number of large FMCG brand owners, including Kraft Heinz, Britvic and Reckitt, claim they have seen “minimal” impact from private label, despite statistics suggesting own brands are winning share. So what’s happening?