Coronavirus is one of the biggest concerns of most people. We’re experiencing this pandemic first hand, and most of us have been affected, one way or another. Spending weeks in self-isolation, working from home, or worrying about the evolution of this situation are only a few of the things that affect us in some ways.
The big question is: when this is going to come to an end, and what will be the impact on the marketing industry? Let’s take a closer look at some possible ways coronavirus might affect marketing in the near future.
The fact that the UK government has enforced first a nationwide lockdown, and then some targeted local lockdowns has inevitable led to a significant decrease in out of home advertising expenditure, since most of the major advertisers, like a digital marketing agency in Basingstoke, and brands have chosen to focus rather on online advertising instead.
In addition, the cancellation of all sporting events and competitions led to a cut of the various sponsorship deals. The direct consequence has been a steep decline of the TV ad market.
Online Marketing May Be on the Rise
Our prediction is that the digital ad spend will significantly increase over the next months, due to the fact that consumers will be spending a lot more of their time online. Also, they will choose online shopping as a safer alternative to shopping in brick and mortar stores. Dentsu Aegis Network supports these predictions. Their survey including 155 clients revealed that 14% of them intend to move their marketing budgets online and decrease their presence in offline media.
Furthermore, as people stopped travelling and started working from home, we expect to witness an increase of mobile and social opportunities. According to a research by Global Web Index, people of all ages and across all demographic segments have increased their social media usage. One of the possible reasons might be that people working from home are able to check their phones more often, since their managers can’t watch them directly throughout the work day. Also, 4 in 10 people have developed the habit of checking the news more frequently than ever before.
Social Media Ad Spend Will See a Boost
With more people checking their phones more often, all of them seeking for content to keep them busy and entertained, social media is set to become part of the daily routine for a wide range of people. Social media is extremely important, because it helps these people cope with the frustrations of self-isolation and with the emotional roller coaster of this global crisis.
As a result, it makes sense to consider that social media expenditure will increase by at least 22 percent as a result of the coronavirus pandemic. Consumer-led brands will make use of social media channels to engage with their audience. We’ve already witnessed the skyrocketing of influencer marketing engagement. According to a recent study, there’s been a 76% increase in daily accumulated Instagram reactions over the past two weeks.
What Kind of Content Do People Consume During the Coronavirus Pandemic?
In our roles of content creators, providers or facilitators, it is our duty of honour and our responsibility to carefully curate the content that we publish. Consumers need their favourite brands to show support, and social media is the ideal environment for that.
People need their trusted brands to lead the way and provide content that shows they care for the consumer. Since this is a time when brands can’t access studios for producing branded content, brands should deliver their messages via a network of carefully vetted content purveyors, in order to ensure that their messages reach their intended audience.
Mental health and keeping healthy are among the topics of interest at this time. Also, content that keeps us busy and entertained, and that helps us stay optimistic is equally important as we try to stay afloat in the midst of this turmoil.