The Coronavirus has caused a shift in the advertising and marketing world. Brands are scrambling to figure out the best way to market to an audience whose behaviors and routines have drastically changed. With customers, clients and one’s audience now staying indoors and presumably spending most of their time online, digital advertising has now become any brand’s best defense against the Coronavirus.
Even when the economy bounces back, new routines will have been made by consumers who have spent the past few months shopping online and intaking any news, updates, etc. in digital form.
Below, you can find a few examples of how advertising has been and will be changed by COVID-19, and how digital advertising is emerging as the most powerful tool for businesses during a time of crisis:
- New Consumers
- As eluded above, companies and businesses are no longer targeting and marketing to their usual audiences. Consumers are spending more time than ever before online and brands who were previously marketing themselves in an offline fashion are now forced to do a 180 and revisit their entire marketing strategies. Studies have shown that in the month of March alone, retail categories online have seen a 74% rise compared to 2019 for eCommerce. While other categories such as home furnishings and DIY products have also had a dramatic rise in sales.
- Marketing Plans = New Channels
- OOH (out of home advertising) now seems like a thing of the past. Billboards, bus stop advertising, airport banners, etc., are no longer a viable piece of a marketing plan. What was once gaining momentum in overall spend in the marketing world, has now taken a back seat to digital. With the new remote consumers that COVID-19 has created, the only way for brands to gain exposure, hit their audiences and send their messages is by letting themselves right in the front doors of consumers. Whether it be through online/digital banners, webinars, social media advertising, YouTube videos and ads, or even email marketing – this suite of products, just to name a few, are now imperative in keeping alive a brand and company.
- Digital marketing on social platforms can not only be the most effective strategy in marketing, even before COVID-19, but during rough times like now – social advertising allows for a very connected form of marketing from the brand to their consumers. Take advantage of this. Talk with your consumers, let them know that you are here for them and establish connections that showcase another side to your brand that in normal situations and conditions, your consumer wouldn’t see.
- Less Competition
- As companies and brands are having to cut marketing budgets and utilize their spending in different sectors – the space for advertising and overall competition has dropped. CPM and CPC prices have dropped 47% due to the decline in competition in online advertising. This has opened a door for amazing opportunities for marketers to acquire new customers and promote their messaging at a much lower cost.
To be frank, advertising is one of the main lifelines of the success of any business. In a time of crisis, most brands will discredit the importance of marketing and cut spend/budgets – this not only will kill your brand from an economic standpoint, but most importantly, from a consumer standpoint. Do not let this happen to you.
Here at Millennium Agency, we are here to help you and your business in any way we can. From PR, digital advertising and content writing, whatever your need – we want to help. If you are interested in learning how we can help and would like to engage in marketing and consulting services, contact us directly or call 877-873-7445.
About Millennium Agency
Millennium Agency is a national, award-winning, digital, creative, content/PR, and video marketing firm. With offices in Boston and New Hampshire, our team unites creative branding and data analytics to accelerate our clients’ growth, while combining our clients’ vision with our marketing expertise to increase sales opportunities and drive brand success. From video advertising and web design to social media and PR, Millennium can guide your marketing efforts every step of the way. Contact the professionals at Millennium Agency to learn more!