{"id":2589,"date":"2020-06-19T10:57:40","date_gmt":"2020-06-19T09:57:40","guid":{"rendered":"http:\/\/www.allsee-tech.com\/digital-signage-blog\/?p=2589"},"modified":"2025-05-07T14:17:18","modified_gmt":"2025-05-07T13:17:18","slug":"should-you-cut-your-digital-signage-budget-due-to-covid-19","status":"publish","type":"post","link":"https:\/\/www.allsee-tech.com\/digital-signage-blog\/should-you-cut-your-digital-signage-budget-due-to-covid-19\/","title":{"rendered":"Should You Cut Your Digital Signage Budget Due to COVID-19?"},"content":{"rendered":"

\"COVID-19<\/a><\/p>\n

With the global economy in a state of uncertainty and financial hardships being felt by many companies, it\u2019s no surprise that some are turning to budget cuts in areas that may be deemed unessential, such as advertising and by association digital signage. However, this blog post will explain why this is likely to be a short-sighted and costly mistake.<\/p>\n

\"Brand
What is ‘Brand Equity’?<\/figcaption><\/figure>\n

Let\u2019s take a look at the global financial crisis of 2007-2008, commonly referred to as the credit crunch. During this time, data collected by WPP<\/a> (the world\u2019s largest advertising agency) showed that companies that sustained their brand equity by continuing to invest in advertising during economic downturns demonstrated significantly faster recovery rates compared to those that reduced their marketing efforts1<\/sup><\/a>.<\/p>\n

During a recent seminar2<\/sup><\/a>, brand insights expert Julie Kollman<\/a> explained that this is because despite short-term benefits for cash flow, cutting your budget for advertising will have negative repercussions in the long-term. This may include damaging your brand equity, reducing your salience and reducing your relevance, which will then take years and high levels of investment to fix.<\/p>\n

Therefore, it is more important now than ever that companies continue to allocate resources to advertising. This is especially the case for brick-and-mortar stores, who need to compete with the increased threat of online retailers. Advertising via digital signage is a dynamic and exciting way to do just that, allowing companies to bring their brands to life and create an in-store experience that will draw customers in and enhance engagement.<\/p>\n

“In times of crisis, don’t turn the lights off.” – Andrew Stephen<\/a><\/p><\/blockquote>\n

To summarise, whilst companies may be tempted to save money by reducing their spending during this financially difficult time, it is crucial that budgets for advertising and digital signage are not cut. Continuing to spend in these areas will help strengthen brand equity and so improve the rate of recovery when the economy picks back up.<\/p>\n

Sources:<\/p>\n

    \n
  1. http:\/\/www.millwardbrown.com\/global-navigation\/news\/press-releases\/full-release\/2020\/04\/30\/brandz-retail-ranking-shines-spotlight-on-brands-most-resilient-to-impacts-of-coronavirus<\/a><\/li>\n
  2. https:\/\/www.sbs.ox.ac.uk\/oxford-answers\/marketing-and-advertising-through-and-beyond-covid-19<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    With the global economy in a state of uncertainty and financial hardships being felt by many companies, it\u2019s no surprise that some are turning to budget cuts in areas that may be deemed unessential, such as advertising and by association digital signage. However, this blog post will explain why this is likely to be a… Read More<\/a><\/p>\n","protected":false},"author":3,"featured_media":2592,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[27,46],"tags":[],"_links":{"self":[{"href":"https:\/\/www.allsee-tech.com\/digital-signage-blog\/wp-json\/wp\/v2\/posts\/2589"}],"collection":[{"href":"https:\/\/www.allsee-tech.com\/digital-signage-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.allsee-tech.com\/digital-signage-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.allsee-tech.com\/digital-signage-blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.allsee-tech.com\/digital-signage-blog\/wp-json\/wp\/v2\/comments?post=2589"}],"version-history":[{"count":6,"href":"https:\/\/www.allsee-tech.com\/digital-signage-blog\/wp-json\/wp\/v2\/posts\/2589\/revisions"}],"predecessor-version":[{"id":5898,"href":"https:\/\/www.allsee-tech.com\/digital-signage-blog\/wp-json\/wp\/v2\/posts\/2589\/revisions\/5898"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.allsee-tech.com\/digital-signage-blog\/wp-json\/wp\/v2\/media\/2592"}],"wp:attachment":[{"href":"https:\/\/www.allsee-tech.com\/digital-signage-blog\/wp-json\/wp\/v2\/media?parent=2589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.allsee-tech.com\/digital-signage-blog\/wp-json\/wp\/v2\/categories?post=2589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.allsee-tech.com\/digital-signage-blog\/wp-json\/wp\/v2\/tags?post=2589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}