IP network-based AV signal distribution offers greater flexibility to adapt and grow with client needs over the life of the system. Added to this is the superior value end users derive from investments in standards-based infrastructure compared to classic proprietary AV systems.
Predicated by Covid-19, most major global markets are facing a downturn and consumer confidence has hit an all-time low. But even as chief marketers attempt to help their businesses survive the pandemic, a new report warns that old thinking may only hold brands back.
Dentsu’s annual report has analysed how marketers are navigating a new kind of recovery. Incorporating the views of 1,350 CMOs covering 12 markets between May and June 2020, it found that nine out of 10 are reverting to past strategies to see them through – and that only one in 10 conceded Covid-19 might pose an existential threat to their organisation.
New thinking is in short supply
The report found only one in 10 CMOs are looking at entirely new strategies. With businesses managing a novel kind of crisis, 49% are basing their recovery strategies on approaches taken in previous recessions.
While the 2008 financial crisis (and subsequent global recession) provides a reference point, the report warns that brands risk using ’traditional’ recovery strategies.
The report warns that basing strategies on previous recessions is a serious oversight, due to the novel nature of the pandemic and its impact on freedom of movement.
The report praises brands that have created entirely new strategies, pointing to the leisure sector – which had to rapidly develop response tactics when faced with unparalleled shutdowns.
Budgets are tight
Despite the general rule that brands should not ’go dark’ during a recession, the report found that budgets have been slashed, with nearly two-thirds (62%) of CMOs expecting their budgets to decline or stay static over the next 12 months.
More than half of larger businesses (over 1,000 employees) are planning on increasing their marketing spend, compared to just 19% of SMEs.
If marketing budgets are under threat, CMOs will find it hard to balance business and brand interests. The report suggests CMOs will struggle to spend their way back to growth, considering the significant impact on budgets.
Smaller businesses will suffer more because larger companies are better able to weather the storm and deal with inevitable revenue reductions.
Swings and roundabouts
One in 10 report Covid-19 as an existential threat, with six out of 10 CMOs claim their businesses have been significantly affected by the pandemic.
With less than a quarter of CMOs claiming the pandemic will only cause minimal disruption to their business, one in ten (generally larger businesses) report the crisis has, in fact, helped their business.
As CMOs get on the road to recovery, they are starting at different places. With larger businesses performing generally better, the report hints at devastating consequences for smaller businesses.
The death of live events. Footfall in freefall. Retail’s reckoning…
These are the sorts of headlines dominating the media at the moment. But not here at The Drum, because while others are reporting on the death of venues, we are going to be opening one.
Yes, you read that right. Our team have spent the lockdown devising and building The Drum Labs, our new three-storey home in the heart of London’s Shoreditch. Scheduled to open in November, it will house our legendary pop-up bar, The Drum Arms, along with an innovation showroom, live broadcast studio and exhibition space.
But there’s even more than that because we haven’t been working on this project alone. Our founding partner, SharpEnd, has teamed up with Capgemini to create a 'new normal' brand and retail experience through pioneering technology.
Called the CornerShop and occupying the ground floor, this store of the future has been specially designed as the retailer for the contactless age. The space is set out in zones, which include fashion, grocery, quick-serve and coffee. The visitor's smartphone acts as a remote control guiding them around the space, which will house a virtual barista to serve coffee, self-serve snacks and touchless smart grocery focused on helping consumers make sustainable and purposeful choices.
Fully interactive and supporting transactions, CornerShop will track and measure all activity in the space – demonstrating how data and insights can be gathered from the real world in new and exciting ways.
The space will also serve as a platform for co-creation with brands and technology partners. Launch brands for CornerShop include PepsiCo, Yeo Valley and Levi’s – with more planned across CPG, cosmetics and fashion as the space continues to evolve.
So what will The Drum Labs and CornerShop actually look like and why are we doing this now? Watch our video above to get a tour of the venue with the architects of the project.
(Tohoku University) When an optical fiber is immersed in liquid, a high temperature, high speed jet is discharged. Researchers expect this to be applied to medical treatment in the future. Now, a research team from Russia and Japan has explored this phenomenon further and revealed the reasons behind the jet formation.
The Trump administration has consistently dodged questions on when Trump's last negative COVID-19 test was.
The most in-demand streaming originals this week include Prime Video's superhero smash hit "The Boys" and Netflix's "Cobra Kai."
This is the first time we've officially seen the back design of the upcoming OnePlus 8T.
There's also a fantastic sale on the genuinely great Tribit StormBox Micro speaker.
TikTok wants to keep its creators happy.
The new views lay out your story posts in a map or calendar view. | Image: Instagram
Instagram is adding new features to help users find old stories posted over the last three years and to reduce abusive behavior. The stories archive now includes a new monthly calendar view, which shows the days you posted each story, alongside a map which shows story locations, TechCrunch reports. Instagram also announced a pair of new anti-bullying features which attempt to automatically hide potentially abusive comments while discouraging users from posting them in the first place.
Given that stories are designed to disappear automatically after 24 hours, it’s likely surprising to many that Instagram has an archive of them going back years. The stories archive actually dates back to 2017 — the new calendar and map just offer a better...
Samsung has managed to check off a few items on its to-do list, from under-display fingerprint scanners to foldable displays. There is still one item, however, that remains elusive and might not yet see the light of day anytime soon. The Galaxy S21 was initially expected to bear the company’s first UDC or under-display camera but that prestige might belong … Continue reading
Leaked images of the RTX 3070 production line suggests that the GPU is being produced in mass quantities, hopefully avoiding another sparse launch like the RTX 3080.
Executives from Paytm, PolicyBazaar, and others are in talks to form an alliance and launch a Play Store competitor to fight Google's "monopolistic" hold.
A new update allows for cross-platform messaging for the first time within the Facebook family of apps.