'As part of the WARC Guide to marketing in the COVID-19 recession, Les Binet, Group Head of Effectiveness at adam&eveDDB, explains why this recession is different and why the normal rules of business may not apply, at least for a while. This is an excerpt from Binet’s exclusive article ‘Navigating COVID-19: survival, adaptation and recovery’.
[...] I think there are three reasons why lessons from past recessions may not apply just now.
This is not a “normal” recession, and lessons from previous recessions may not apply directly, at least not at first.
This is a social crisis. In fact, it’s more like a war than a recession. And that means that the normal rules of business may not apply for a while.
Different businesses face very different problems, and those problems will change as the crisis proceeds. There is no one-size-fits-all solution. Your strategy should be tailored to your business, and it should evolve as your crisis unfolds.'
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