Whether it is in self-interest or the national interest, advertising works

During life-changing times like these, as the behavioural economist Richard Shotton has observed, people change their consumption habits – and not just because many of us are working nearer our fridges. People become more open to trying new things, or are forced to by circumstance and keep using them afterwards.

While habits are being broken and re-established, it’s an important time for businesses to be seen, remembered and considered. That’s the job of advertising, something that the UK excels at.

Advertising lives mostly at the margins of people’s lives. In truth, most people don’t really care too much about it. Good ads are enjoyed, shared even; average ones are tolerated; bad or intrusive ones rightly rubbished.

When advertising is cared about, it is often when it is being made a scapegoat for society’s ills. It is cast as a villain.

But right now, advertising’s role as an economic hero needs to be recognised. Advertising is central to helping the UK economy emerge from this crisis as fit as possible.

It is, of course, a challenge to make the case for sustained advertising investment right now when whole sectors are under wraps, like travel. Yet there is a strong case to be made. Indeed, it is vital that those businesses that can advertise do.

Advertising is most obviously a self-interested business investment. But it is also in the national interest, especially now. A £1 investment in advertising drives £6 of growth in GDP, according to the Advertising Association. That is a significant contribution.

Ad spend is being badly hit by current uncertainty, but there are businesses seizing the lockdown moment. It’s the perfect time to de-moss your decking, for example. Pressure washer business Karcher has almost doubled its presence on television recently.

Newcomers too, particularly online businesses, are taking advantage of advertising being much cheaper at the moment. Lingerie brand Lively and stationery brand Papier are examples of those making the most of falling prices. With increased viewing – up five hours a week – but demand from sectors like travel dipping, television prices in May/June will be nearly half what they were last year.