Agency rethink?

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AUCKLAND, Tuesday: Many NZ businesses are indicating they are likely to review media and agency strategies post-Covid-19 – including reviews of creative & media agency appointments.

The IAB has today released the results of a survey of over 100 agency and advertiser members and key stakeholders providing insights into the impact of Covid-19 on strategy and digital investment.

Non-essential businesses represented 76% of the respondents. Almost two thirds of those surveyed describe their business in its current state as ‘Pivoting: Changing the business or media strategy based on the market and consumer insight’. 

“Eighty percent indicated that their business strategy is up for review post Covid-19.”

Eighty percent have confirmed this – with 77% are anticipating the change in business strategy to lean further into e-commerce or data-led strategies.

Almost half of those surveyed are reviewing their business strategy weekly and a quarter when major announcements are made, and this result is similar for media strategy.

Whilst the survey indicates that total media/advertising budgets have been impacted, digital budgets appear to be slightly less affected.

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