With the cost of living crisis high on everyone’s agenda, this special IPA hub has been set up to curate current IPA thinking on how and when to have those difficult conversations about advertising, media and marketing spend.
With nearly half a century of advertising effectiveness case histories in our database, we have all the evidence we should ever need to prove that the best advertising and marketing pays back. The UK’s and world’s most successful businesses have also proved, beyond doubt, that they consider advertising & promotional spend as an investment and not a cost. But in tough times, the rules change slightly, and it is not unreasonable for any advertiser to want to review their marketing budget or their campaign plan to suit the conditions of a new business climate.
There is no one size fits all approach. Every category will have its own set of challenges that need answering.
Here are our top tips and top reads for what lies ahead.
Bellwether reports
Our Bellwether reports regularly show that in a downturn many companies increase their advertising, media and marketing spend to take advantage of specific opportunities to increase their salience and market share.
How to navigate your brand through turbulent economic times
Globally revered econometrician and marketing effectiveness guru Les Binet shares his lessons on how brands can not only survive but thrive in a crisis.
Advertising in a downturn revisited
Peter Field breaks down his research with the LinkedIn B2B Institute into what lessons from previous recessions still resonate today and explore how brands should act during a crisis.
Get the pricing right
This does not mean rushing to heavy discounting which can damage a brand beyond recovery. We have several reports that explore the nature of client-agency commercial relationships and how common commercial challenges can be addressed.
Free reports into the most effective advertising strategies
We have evidence that companies that increased their marketing budgets during tough markets, created a competitive advantage that helped them report higher average profit and better market share growth when the economy recovered.
How to capture an extra share of the recovery
When markets rebound, faster growth is on the table for brands with extra share of voice. Investing in a greater share of media spend in this category has proven to be the foremost way to increase a brand’s market share.
Creativity matters
Creativity matters, especially in tough times, because it can give you a competitive advantage if done with flair, sensitivity and intelligence. So use this opportunity to think beyond your original brief – both in the short and longer term.
When staff costs are rising, how do we tackle the pressure on fees?
Rick Brook, commercial agency advisor (and former EVP of Global Client Operations at WPP) gives practical advice for agencies.
2022 iListers about cost of living crisis support
The aim of the IPA iList is to acknowledge and showcase individuals who are successfully shifting culture within advertising and marketing through their creative work or through game-changing programmes and initiatives. Here, 2022 IPA iList winners are explaining what employers can do for their workforce - or in some agencies are already doing.
The (welfare) state of affairs: media agencies and the cost of living crisis
Jacob Knox-Hooke, Operations Director at PHD writes about the impactful changes made at PHD Global to support employees at their career and life stages.
Cost of living and class - a view from Common People
Lisa Thompson, Business Director Strategy & Planning at Wavemaker about the things adland can do to support those from working-class households.
The cost of working crisis
Stu Outhwaite-Noel, CCO & Founder at Creature and White Crow, explains why we are people first and work in advertising second - there is nothing wrong in wanting to create stand-out work, but everything wrong in trampling over people’s lives to get there.
Who else is going to do it?
Ewen MacPherson, Group Chief People Officer at Havas UK explores why it might be the company’s responsibility to try and fix society’s problems with the company being redefined as a collective of citizens.
IPA Insight
IPA members can also contact the IPA Insight Centre with specific requests by emailing insight@ipa.co.uk.
Paralyzing impact of cost-of-living crisis
TouchPoints data reveals consumers’ financial struggles ramp up and longer-term plans are being put on hold while almost 40% of Britons aren't coping on their current salaries.
Consumers’ healthy-eating choices wane
IPA TouchPoints reveals that there is clear indication of a strong correlation between consumers’ squeezed budgets and their less healthy food choices.
Consumer pressure on brands’ pricing increases
IPA survey shows the number of consumers looking to brands to help them through the cost of living crisis by keeping their prices fair has increased by 5% since May.
The impact of the cost of living crisis
Free download of the presentation slides of a report by Trajectory that assesses the long term direction of individual consumer trends as a result of the cost of living.
Looking after your people
Your people matter. So look after your workforce. They are your greatest advocates.
Pitch Positive Pledge
The Pitch Positive Pledge is designed to help both clients and agencies enhance the existing pitch process by focusing on behaviours in a bid to improve mental health, cause less wastage and reduce costs.
People matter
NABS is there to improve the wellbeing of everyone in the advertising and media industry. They offer expert, impartial and friendly advice. They also work out what’s best for you and provide practical solutions.