The panic and confusion surrounding coronavirus is effecting our global economy and methodically impacting every industry, including advertising. Unprecedented large scale quarantines, school and workplace closures, and general avoidance of social gatherings are causing people to alter their daily lives which affects how they interact with products and ultimately spend their money. This, in turn, raises the question on the minds of many involved with digital media: how can marketers and advertisers alike face and overcome the oncoming uncertainty surrounding coronavirus? Let’s take a look at why brands should be leaning into digital media advertising instead of pulling back.
- Foot Traffic
Social avoidance is negatively impacting retail stores across the globe. Foot traffic is down and so are sales. According to ADWEEK, experiential marketing–a proven ROI for many brick and mortar brands–could take a hit as people practice social distancing. To counteract this trend, brands need to think about reallocating ad spend from other areas into digital, social, and e-commerce initiatives to reach customers staying indoors due to COVID19. Now is the perfect time to roll out that new e-commerce site you’ve been planning!
- Visibility Counts
We often recommend an “always-on” digital media strategy. Now more than ever, brands need to make sure they’re visible to consumers who may be stuck inside passing the time with social media and susceptible to an impulse purchase. With coronavirus making online shopping almost a necessity, ensure your brand is there at the right time with the right message with a consistent digital media strategy. Sources say that despite the growing impact of COVID19, there are still areas of strong growth and e-commerce advertising spend [is forecasted] to grow by 17.7% and social media spending to rise by 22.2%.”
- Big Picture
Competition for digital ad space may be a little less active right now, and that’s a good thing. Goodway Group reports that “a number of studies over many years have shown those who advertise during economic downturns and times of crisis can actually increase market share when the right approach is taken.” Think about the big picture and where you want to position yourself during and after the threat of coronavirus and dedicate ad spend to meet those goals.
Ready to discuss your digital, social, and e-commerce media strategies? We have decades of experience in leveraging what we like to call a stacked media approach utilizing Facebook Ads, Amazon Ads, Google Shopping, and Paid Search. Give us a call at (781) 247-0730 or send an email to info@mittcom.com