Summary List PlacementEveryone can agree that 2020 has been filled with stress and chaos. Now, brands are trying to capitalize on the year from hell. This week, Reese's decided to launch its new Big Cups with Pretzels with a series of "salty" tweets. "Yearning for the days when the world's biggest problem was that Reese's wasn't stuffed with pretzels," one reads. "Spent the day sneering every time I heard 'the new normal' instead of 'the new Reese's.' Feeling pretty good about my time management skills," reads another.
Spent the day sneering every time I heard “the new normal” instead of “the new Reese’s.” Feeling pretty good about my time management skills. — REESE'S (@reeses) September 21, 2020
Reese's explained that the new treat represents how people are feeling in 2020 — "keeping it together on the outside, but we're salty on the inside." "Let's face it, we're all feeling a little bit salty this year," Ian Norton, Reese's senior director, said in a statement. "In true Reese's fashion, we channeled our feelings into sweet and salty deliciousness with new Reese's Big Cups with Pretzels." There is plenty to feel 'salty' about in 2020 There is plenty to feel "salty" about, though perhaps a more accurate word for some would be "depressed" or "enraged." The unemployment rate is at 8.4%, as roughly 12.6 million Americans are currently receiving unemployment benefits. Millions of protesters have taken to the streets across America to rally against racism and police brutality since the killing of George Floyd on May 25. The US is a little over a month away from an election that President Trump has said he expects to "end up in the Supreme Court," while also refusing to commit to a peaceful transfer of power if he loses. More than 200,000 people in the US have died of COVID-19, and a widely available vaccine is still months away. In March, brands were quick to update their marketing strategies to reflect the pandemic, as companies scrapped ads that showed people failing to social distance, hugging, or — in KFC's case — licking their fingers after eating fried chicken. Many new advertisements early in the pandemic addressed the coronavirus head on. Budweiser and McDonald's were among the companies that ran ads celebrating first responders in April. But, as the pandemic stretches on, marketing has shifted to what executives call the "new normal." Now things are just terrible in general Brands are now building strategies that acknowledge the general hellishness of this year, without focusing specifically on the coronavirus. The most obvious channel that brands have used to show that they "get" 2020 is social media, where companies tend to be more casual and strive towards relatability. Burger King, for example, has tweeted numerous times about how terrible and bizarre this year has been.
my plans 2020 pic.twitter.com/VVxGxxpzDs — Burger King (@BurgerKing) May 21, 2020 brb, wrapping up 2020 #WrapUp2020 — Burger King (@BurgerKing) July 22, 2020 us: whEn iS #2020 gIVInG uS AliENs??venus: hi — Burger King (@BurgerKing) September 15, 2020 my plans 2020 pic.twitter.com/HA8wTeEXd2 — Burger King (@BurgerKing) May 19, 2020
Other campaigns that play on how horrible 2020 is include Natural Lights' offer to build a "mobile dorm" as colleges go remote due to COVID and one of KFC's temporary slogans in the UK: "It's make you forget about 2020 good." People's struggles are also playing into companies' strategies in more subtle ways. For example, Starbucks and Dunkin' launched their Pumpkin Spice products earlier than ever before this year. The decision seems to have been sparked in part by people's desperation for 2020 to end — or at least to have something to brighten their days as the year dragged on. "While there is so much uncertainty heading into the fall, one thing our fans can count on is the return of pumpkin at Dunkin'," Dunkin's vice president of marketing strategy, Jill Nelson, said in a statement to USA TODAY. "We're excited to bring them one of the most anticipated flavors earlier than ever before." Katherine Cullen, NRF's senior director of industry and consumer insights, told Business Insider that people are looking for anything that will distinguish one day from the rest. For example, Americans who plan to celebrate Halloween are spending more money on costumes, decorations, and candy than ever before, allotting more than $92 simply to break up the monotony of 2020. "It's a way to have a little joy and share a little joy at a time when people are dealing with a lot of uncertainty," Cullen said. SEE ALSO: Restaurants need to brace for 18 more months of extreme challenges — and the election is about to make things worse Join the conversation about this story » NOW WATCH: Why thoroughbred horse semen is the world's most expensive liquid
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Influencer merch has surged during the pandemic. Here are the top companies helping YouTube, Instagram, and TikTok creators make and sell it.
Summary List Placement Hi, this is Amanda Perelli. Welcome back to Insider Influencers, our weekly rundown on...Summary List Placement Hi, this is Amanda Perelli. Welcome back to Insider Influencers, our weekly rundown on the influencer and creator economy. Sign up for the newsletter here. Selling merchandise is a major business for top creators like David Dobrik, who said his custom merch with Fanjoy makes up the majority of his income. And as ad deals have faltered during the pandemic, direct sales have become increasingly important for influencers looking to diversify their income streams. This week, I highlighted the 7 most prominent merchandise companies working with creators on YouTube, Instagram, and TikTok. These companies work with influencers to design, manufacture, and sell branded merchandise, from T-shirts and hoodies to other branded accessories. Reed Duchscher, the CEO of the talent management firm Night Media, told Business Insider that partnering with an outside company is usually the best bet for any creator looking to start selling merch. "To outsource it is probably a better business than doing it in-house," Duchscher said. "You'll get a higher margin without any of the headache of things like having customer service and fulfillment, or hundreds of thousands of units somewhere in a warehouse. If it becomes a big enough business and you're really selling it a higher volume, then you can talk about what that process would look like selling in-house." But which companies lead the way in the industry? Read the full story here. Dunkin's TikTok marketing strategy includes paying employees to post videos at work and it's part of a growing trend Some major retailers like Dunkin', Wendy's, Arby's, and Walmart have begun inviting employees to post videos on TikTok at work as a new marketing push. My colleague Dan Whateley wrote that some retail employees have gained large audiences on TikTok by posting videos of life behind the counter at major chains. Dunkin' recently created a new "crew ambassadors" program where it's paying employees to post videos while on the job. Dunkin' told Business Insider that it launched its ambassador program after seeing TikTok videos showing "enthusiastic organic engagement of Dunkin' restaurant crew members sharing their experiences of working at a store." "Tell me what content you guys want to receive from me," Morgan Massaker said in a TikTok video announcing his ambassadorship on Monday. "Coffee combinations. Sandwich combinations. What donut should I have this week?" Read more about brands like Dunkin' hiring workers to post on TikTok here. Inside the TikTok influencer house that uses comedy to land deals with brands like Chipotle and Tinder and reach millions of viewers The TikTok collab house "The House Nobody Asked For" is a group of eight influencers who moved to Las Vegas over the summer and relies on comedy instead of viral dances to land brand deals. THNAF now has over two million followers on TikTok and has secured brand deals with Chipotle and Tinder. My colleague Sydney Bradley spoke with the group's founder and its manager about why the group moved to Las Vegas and how it pitched and landed these brand deals. "Believe it or not, we're paying less to be here than we would for student housing," house member Caroline Ricke said in the group's announcement TikTok video about their new home. The group signed the Las Vegas lease for four months with the assistance of some of their parents and legal advisors, and the group's first sponsor, the brand MSCHF, signed on as a guarantor. MSCHF, a company that sells products and is known for viral stunts, is sponsoring the group through the end of October, which has helped cover the rent and utilities for the house. Read more on THNAF here. A TikTok star with 1.5 million followers explains how much money she makes from brand sponsorships Dana Hasson, 23, launched her TikTok account last summer after slowly building a following on Instagram. Her account started to grow rapidly after her recipe videos trended and gained attention on TikTok's "For You" page. Hasson now has over 1.5 million followers on TikTok and over 100,000 followers on Instagram. I spoke with Hasson who said she treats her TikTok account like a full-time job. She broke down how she makes money and how much she charges for a sponsorship. "It was pretty much a dancing app at that time," she said of TikTok when she got started. "So when I joined and started posting food, beauty, and fashion videos, no one else was really doing that." Back then her goal was simply to use TikTok to grow her Instagram page, which had about 30,000 followers. But Hasson started making real money on TikTok when she reached 100,000 followers. At the time, she charged about $1,000 for a sponsored video, she said. But her rates have climbed since then. Read more on her rates here. More creator industry coverage from Business Insider: Snapchat Snapchat adds new audio features to compete with TikTok (Dan Whateley) TikTok A TikTok VP shares 3 topics brands ask about when considering TikTok as a marketing platform (Dan Whateley) Inside TikTok creator group Sway LA's podcast push (Dan Whateley) Instagram How much money Instagram influencers are asking brands to pay for sponsored content in 2020 (Sydney Bradley) Instagram is ramping up its e-commerce features as interest in video surges on the app (Sydney Bradley) Industry updates: Talent agency CAA signs esports organization 100 Thieves. Greg Goodfried, the cohead of United Talent Agency's digital talent division, is leaving at the end of the month to become president of D'Amelio Family Enterprises. President and cofounder of Studio71 Dan Weinstein is leaving. The 10th annual Streamy Award nominations are back, and nominees for this year's "Breakout Creator" include TikTok stars Addison Rae, Spencer X, and Charli D'Amelio, along with YouTube creators ZHC and Dream. The Streamys will be held on YouTube December 13. This week from Insider's digital culture team: The era of A-list YouTube celebrities is over. Now, the people cancelling them are on top. YouTube creator D'Angelo Wallace makes videos explaining why the YouTubers you used to love are actually not worth your time. Kat Tenbarge from Insider spoke with Wallace about his popular commentary channel, which has 1.6 million subscribers, and his creative process. Wallace, 22, and others in the "drama community" have built massive followings online devoted to critiquing YouTube celebrities, and working to create a new level of accountability in the culture. His deep dive into the beauty YouTube drama of May 2019 deconstructed each YouTuber's role in the feud, exploring how it came back to negatively impact each of their careers, and his videos about Jeffree Star and Shane Dawson have a combined 20 million views. That series also helped his subscriber count grow from under 500,000 to over a million within one month. Read the full interview here. More from Insider: The biggest trends around TikTok's "Time Warp Scan" effects (Palmer Haasch) 36 of the best memes of 2020 (so far), from toilet paper to "Tiger King" (Insider's Digital Culture Team) A balloon artist went viral on TikTok after revealing that she charged $300 for her creations (Margot Harris) TikTok star Bryce Hall is under investigation for fighting restaurant staff who told him to leave for vaping (Kat Tenbarge) Here's what else we're reading: A TikTok star is highlighting BIPOC-owned Seattle restaurants with viral videos (Colleen Stinchcombe, from Eater) Shaming influencers for not social distancing could reinforce wrongful behavior instead (Morgan Sung, from Mashable) VidCon plans for a post-pandemic future with both in-person and virtual elements (Lucas Shaw, from Bloomberg) TikTok has become the platform of choice to discuss the presidential election and advocate for a candidate (Kalhan Rosenblatt, from NBC News) Thanks for reading! Send me your tips, comments, or questions: firstname.lastname@example.org Subscribe to the newsletter here.Join the conversation about this story » NOW WATCH: July 15 is Tax Day — here's what it's like to do your own taxes for the very first time
DTC salaries revealed: What top brands like Peloton, Wayfair, and Instacart pay marketing employees, from designers to senior managers
Direct-to-consumer brands have continued to reshape the business world during the coronavirus pandemic as more consumers...Direct-to-consumer brands have continued to reshape the business world during the coronavirus pandemic as more consumers buy all sorts of products and services online. Some DTC companies have laid off staff and restructured their business models due to declining revenue over the past several months, but others, like Peloton and Instacart, have seen revenues and share prices explode. Many of these DTC companies emphasize aggressive marketing. Business Insider analyzed the US Office of Foreign Labor Certification's 2019 disclosure data for some of the biggest DTC brands to determine what they pay top marketing employees in a variety of roles. Pay ranges from just under $50,000 for a GrubHub marketing specialist to $285,000 for a head of marketing analytics at Chewy.com. Subscribe to Business Insider to read the full story. The direct-to-consumer space has been one of the hottest business categories in recent years, with US ecommerce sales expected to reach nearly $18 billion this year, according to eMarketer. Investors have pumped trillions into the sector, with brands often emphasizing rapid growth over profitability through aggressive marketing strategies. Two of the biggest DTC brands, SmileDirectClub and Casper Sleep, went public over the past year with mixed results. The space has been deeply affected by the coronavirus pandemic, and some hot brands, like Everlane and Away, have had to cut staff as their sectors have been crushed broadly. But other DTC companies have gained as consumers spend more of their money with brands directly, bypassing brick-and-mortar retailers. DTC companies remain top destinations for marketing professionals, especially as ad agencies cut thousands of jobs and traditional brands continue to lose market share to up-and-comers. These businesses hire top talent from around the world, and they are required to file paperwork, including salaries and salary ranges for all employees on visas, with the federal government — data the US Department of Labor's Office of Foreign Labor Certification releases every quarter. The salaries in this story are determined, in part, by "prevailing wages," or the minimum companies are required to pay for the jobs in question. The Department of Labor uses these totals to protect US employees' wages and prevent educated immigrant labor from being exploited. Some of the top DTC businesses are not listed in the database because they did not employ any visa-holders during the latest fiscal quarter, which ended in March. But Business Insider analyzed the latest available data on permanent green cards and temporary H-1B, H1B1, and E-3 visas to compile a portrait of what some of the space's top brands pay employees in marketing roles. These numbers don't include every type of visa or any form of compensation beyond base salary. Spokespeople for all the companies included in this story either declined to comment or did not respond to related requests. Peloton paid a digital media director up to $200,000 Peloton has seen its business explode during the pandemic as a growing number of consumers ordered its signature exercise bikes and other products while gyms around the world remained shuttered. The company's most recent earnings report in May saw revenue shoot up 66% as the company scrambled to meet demand despite reports of live classes being cancelled and warehouse workers asking to avoid home deliveries. Analysts say Peloton has long transcended an infamously viral Christmas ad and stands to emerge from the pandemic as a stronger business; its share price has increased in turn by more than 350% since US lockdowns began in March. Peloton applied for at least 47 visas last quarter, most of which were for software jobs. But the available data for marketing positions like director of digital media, which handles all original content on the company's website, makes clear that it offers very competitive salaries: Product design program manager: $130,000 Senior director of brand marketing: $151,840 to $180,000 Director of digital media: $77,750 to $200,000 Restaurant delivery startup DoorDash paid a growth marketing manager $175,00 and Postmates paid a VP of communications $250,000 Food delivery companies have been thriving since lockdown orders started and consumers shifted dramatically from dining out to delivery. DoorDash and Uber Eats have benefited the most, with the former raising an additional $400 million in equity financing pushing its valuation to $16 billion and the latter surpassing Uber's core ride-hailing division for the first time, with an adjusted net revenue of $885 million in the second quarter of 2020. Postmates, another delivery app, agreed in July to be acquired by Uber for $2.65 billion in stock, intensifying competition in a space where Grubhub is another established player. As restaurants continue to struggle, these companies are also fighting local laws that regulate the fees they collect from participating businesses. Here's a snapshot of how food delivery companies including Grubhub, DoorDash, and Postmates are paying employees to market their services during the busy time: Marketing specialist, Grubhub: $49,587 Brand designer, Postmates: $96,000 B2B marketing manager, Grubhub: $102,500 Sales optimization analyst, Postmates: $118,000 Product designer, Postmates: $120,000 Manager, strategic partnerships, DoorDash: $143,000 Manager, growth marketing, organic and conversion rate optimization, DoorDash: $175,000 Director, business operations and strategy, Postmates: $180,000 VP of communications, Postmates: $250,000 Grocery delivery services startup Boxed paid a junior designer up to $54,000 and Instacart paid a director of analytics up to $220,000 Another type of DTC delivery startup has also seen its business boom under the pandemic as more consumers turn to apps in place of visiting physical grocery stores. Surveys show that more than 50% of consumers have already bought groceries online in 2020, and around two-thirds plan to do so over the coming months. Instacart is the largest player by market share, and it has gained on rivals AmazonFresh and Walmart as others like DoorDash more recently entered the space. Instacart went on a massive hiring spree this year, and competitor Boxed also reported a 200% increase in traffic to its website as pandemic fears first hit in March. Data across Boxed and Instacart, the latter of which applied for more than 70 visas, show a range of high-paying marketing jobs: Private label designer, Boxed: $39,686 to $54,000 Paid shopper marketing analyst, Instacart: $95,000 to $125,000 Senior analyst, marketing, Instacart: $110,000 to $140,000 User researcher, Instacart: $120,000 to $140,000 Integrated marketing manager, Instacart: $120,000 to $160,000 Senior marketing manager, paid search, Instacart: $140,000 to $160,000 Product designer, Instacart: $130,000 to $175,000 Director, advertising analytics, Instacart: $165,000 to $220,000 Home goods platform Wayfair paid a senior web analytics manager $150,000 Consumers stuck at home during the pandemic have turned toward home improvement products, leading to an unprecedented growth streak for furniture and home goods-focused e-commerce company Wayfair. Sales nearly doubled in the second quarter from $2.3 billion to $4.3 billion, marking the first time in years Wayfair had turned a profit, and its share price leapt from a low of $23.52 to more than $340. Wayfair remains the largest online furniture retailer by market share, though rivals like Birch Lane and AllModern also saw significant gains in recent months. The fact that Wayfair received at least 475 visas, with a focus on software development, logistics, and engineering, demonstrates its scale. These are salaries and ranges for some marketing jobs at the company: Senior analyst, marketing: $78,100 Product and marketing analyst: $61,048 to $100,000 Associate, product and marketing: $73,778 to $100,000 Senior manager, partnerships and growth: $113,859 to $125,000 Manager, product and marketing: $113,859 to $135,000 Senior manager, web analytics: $150,000 Ecommerce fashion brand Poshmark paid an analytics manager $180,000 and Stitch Fix paid a data science manager $260,000 Fashion retail has suffered more than some other industries during the pandemic as consumers are less likely to buy or rent new clothes while stuck at home. Some previously hot DTC fashion brands, like Rent the Runway and Glossier, have cut staff and redesigned their entire business models in turn. But online platform Poshmark, where people can buy and sell used clothing, thrived in recent months by fast-tracking new features like a video component similar to Instagram. This success came after the company pulled its planned IPO in late 2019 due to a pre-pandemic slowdown in the fashion market. Stitch Fix, a subscription service that provides customized fashion packages to members, has also fared far better than department stores despite some third quarter fulfillment challenges related to the pandemic. The company's share price is up more than 100% since March. These are salaries and ranges for top marketing jobs at the two companies: Marketing associate, Stitch Fix, $126,000 UI/UX designer, Stitch Fix: $138,000 Associate manager, analytics, Poshmark: $155,000 Product manager, Poshmark: $160,000 Customer relationship management manager, Stitch Fix: $164,000 Data and analytics manager, Poshmark: $180,000 Data science manager, Stitch Fix: $260,000 Meditation app Headspace paid a marketing manager up to $150,000 and Calm paid a director of user acquisition $216,653 Like food delivery services, meditation and wellness apps have also surged in popularity amid the pandemic, with many people's stress and anxiety levels going through the roof. According to app intelligence firm Sensor Tower, the 10 largest English mental wellness apps generated more than 10 million downloads in April 2020, up 24.2% from January 2020, with Calm and Headspace leading the ranks with 3.9 million and 1.5 million installs, respectively. Headspace specifically has been attempting to capitalize on the momentum by adjusting its communications and creating new programs to cater to its growing audience. Calm and Headspace applied for at least seven visas combined in 2019. Here's a peek at the salaries they offered for marketing and adjacent positions: Manager, lifecycle marketing, Headspace: $116,418 to $150,000 Lead product designer, Headspace: $165,000 Director of user acquisition, Calm: $216,653 Pet product retailer BarkBox paid a creative lead up to $110,000 and Chewy.com paid a senior director of marketing analytics $285,000 The pandemic has fueled pet adoptions and sales across the country — so much so that brands ranging from Petco to luggage startup Away are also trying to cash in. Pet product subscription box BarkBox and retailer Chewy.com have also benefited from the trend, with sales at Chewy up 42.5% between March 12 and March 18, according to data from Earnest Research, and BarkBox also seeing a jump in its subscription business. In fact, BarkBox, which has until now mostly curated other brands as part of its subscription service, is using the time to expand into the category of pet food, and is beta testing a private label dog food service called Bark Eats, per Retail Dive. These are what the companies are paying marketing employees: Associate marketing project manager, Chewy.com: $67,000 Creative lead, BarkBox Essentials, BarkBox: $95,000 to $110,000 Director of creative operations, BarkBox: $130,000 to $155,000 Associate director, product management, Chewy.com: $170,000 Senior director, marketing analytics, Chewy.com: $285,000 SEE ALSO: The CMOs to watch in 2020 Join the conversation about this story » NOW WATCH: Why electric planes haven't taken off yet
1-800-Flowers' revenue increased 12% in the last quarter. The company's CMO reveals how it's adapting its business and advertising as people send more flowers during the pandemic.
Business Insider has launched a regular series where we talk to chief marketing officers about how...Business Insider has launched a regular series where we talk to chief marketing officers about how they are confronting challenges from data-driven marketing to in-housing. While some companies grapple with the fallout of the coronavirus on their businesses, 1-800-Flowers's business is blossoming, with revenue up more than 12% year-over-year in the most recent quarter. In the second installment of the series, we talked to 1-800-Flowers CMO Amit Shah about how the company is adapting its business as people send more flowers, how it's increasing its ad spending, and why product and marketing need to work more closely together. Click here for more BI Prime stories. While some companies are grappling with the fallout of the coronavirus on their businesses, 1-800-Flowers's business is blossoming, with revenue up more than 12% year-over-year in the most recent quarter. In the second installment of our new CMO series, we talked to its CMO Amit Shah about how the company is adapting its business as more people send flowers, how it's increasing ad spending, and why product and marketing need to work more closely together. The following interview has been edited and condensed for clarity. Tanya Dua: Some companies have been hit hard by the coronavirus, but it's been the opposite for you? Amit Shah: We find ourselves being leaned on even more as customers seek more meaningful and deeper connections. Initially, we saw a softer consumer demand for floral gifts. We have since seen the pattern reverse itself as customers adapt to the new environment and send gifts. Everyday occasions – which have always been the biggest part of our floral business – have taken on new meaning as people want to reach out to celebrate birthdays, new babies, and anniversaries from afar. We've seen an increase in floral gifts being sent "just because." Dua: How has this impacted your business? Shah: Companies that have embraced e-commerce have seen a disproportionate increase in customer acquisition and outcomes. We have had e-commerce for a long time, so we are seeing our strengths play out in terms of our growth. Our total third-quarter revenues increased 12.2%, and we've reaffirmed our growth guidance for the fiscal year 2020, with a total consolidated revenue growth of 8-9% compared to last year. Dua: How are your strengths are playing out? Shah: We have a robust mobile app and optimized mobile site and that's paying off. During the peak holidays, including Mother's Day, the percentage of mobile traffic is approximately 65%. Mother's Day is like the Super Bowl for us, and mobile orders accounted for approximately 45% of our Mother's Day revenue this year. We were also an early adopter of Apple Pay, and we have benefitted from that, as with people's increasing adoption of mobile, their usage of Apple Pay has also increased. We have done a lot of testing with where the button should be placed to make it the easiest for customers to check out. We were also the first company in the gifting space to embrace Venmo. Dua: How are you adapting the business to meet this increased demand? Shah: We are expanding on our mission of facilitating expression, connection and celebration. You can obviously buy and send our products, but another form of expression is the free e-cards that you can send from our website. We have launched the "Connection Community" platform with Wisdo, which lets people seek support and build meaningful connections with others who may be going through similar things in life. We've built a technology called "SmartGift "that allows shoppers to send a gift even if they don't know the recipient's address. Adoption is up double digits now because a lot of people are working from home. Lastly, we are celebrating our community with our "Local Heroes campaign." We have 4,000 local florists in our network, and we have been helping them with innovative payment plans, sending demand their way. Dua: How has that affected your ad spend? Shah: We are very relevant right now, so we are not pulling back on marketing. We are taking advantage of the cost of media falling by increasing our investment in both bottom of the funnel and mid-funnel, especially search marketing. We've also increased the number of video creative that we are putting out there. So, for example, we tested TikTok and had a bunch of videos around Mother's Day on that. We've also increased our investment in the Google stack, especially YouTube. Dua: How do you think your role as a CMO has changed since the pandemic? Shah: I lead cross-functional teams across 15-plus brands, and decision-making has accelerated tremendously. I also run our product stack, and it is critical that marketing and product are intertwined. Some brands have great ads, but then when you click on them, the experience is bad. We spend a lot of time making sure that the continuum from stimulus to consumption to transaction is very seamless. On the marketing side, we've invested in a full-funnel approach. There's a strange dichotomy in the marketplace where you have brand marketers and performance marketers, and that misses the point. We want to be relevant to the right customers at the right time. The way to do that is to hold performance marketers responsible for thinking through the brand outcomes, and the brand marketers for thinking deeply about performance KPIs, and then surrounding these teams with a great creative team. Dua: What will be the biggest change in your industry and marketing in general due to the coronavirus? Shah: People will rely more on established brands. A lot of startups that have VC money go and acquire customers without really thinking about longterm connections with their communities, and that will fundamentally change. Brands that really live out their purpose are going to come out as winners. There's also going to be a great realignment of the relationship between the brands and platforms. Platforms are realizing that marketing dollars are important for their survival and that they need to work much more deeply with brands. We have experienced a lot of more deepening of conversations with the publishers and platforms than ever before.SEE ALSO: Pepsi's CMO reveals how the company is shaking up its advertising, demanding more flexibility from its agencies, and prioritizing e-commerce and data amid the pandemic Join the conversation about this story » NOW WATCH: We tested a machine that brews beer at the push of a button