How Corona Changed Online Marketing?
The sudden increase in homeowners has led to a change in lifestyle as consumers switch to spending more time online than ever before. Brands already cooking for ‘sofa-surfers’ have shown that they are transparent and in some cases even see an increase in sales. Traditionally offline products have revived new online products in an effort to adapt to this new lifestyle.
The most important factor in this epidemic is obviously human health, but there are far more people affected than just the sick. Businesses are feeling the effects of the virus and companies are announcing consecutive reductions.
Marketing departments around the world are recognizing its effects. Most advertisers are at the crossroads, wondering which route to take for an uncertain future. This document goes through how marketers adapt to these new trends and what to keep in mind as you go through the current trend.
How Marketers Respond
Recent research has shown that 61% of advertisers are changing their media strategies temporarily. However, only 9% make long-term changes. There is little movement from offline media to the internet, as marketers in the same study make it clear that they will take a more online approach.
The budget change is not surprising given the fact that digital media is used at a high level due to the online lifestyle of post-corona consumers.
New Trend for 2021: Changing Channels
Marketers seeing budget cuts will benefit by going to less expensive and flexible channels such as program advertising where consumer availability and available visibility increase.
Digital display ads, social media and online videos are channels likely to pop up in the temporary media system.
Home advertising such as large municipal billboards will have very low exposure due to the large number of people living in rural areas. Event marketing has stopped immediately, and we will likely see that marketing budgets are running out or heading into online advertising.
However, not everyone sees a reduction in marketing budget as a solution.
Some B2B products increase digital advertising revenue to pay for tracking at events.
The concern is that no one really knows that the epidemic is over and everyone can return to their normal lives.
We see how spending is declining in many industries. The tourism, marketing, or events industry are struggling to save costs. However, many popular online services can increase advertising revenue – especially on online channels.
Services such as online food delivery services, streaming or online news benefit from the high availability of the internet. These products will want to take a larger market share in a larger market and increase your spending.
There is no doubt that the coronavirus has left its mark on history. The question is how much things will change and what the world will look like when it is all over.
Now we have seen results in various industries and marketing efforts, but how will retailers fix it?
Many digital solutions need to be considered in all industries. Webinars, digital entertainment and virtual visits to doctors are examples of future solutions where physical contact is restricted.
Even when it sounds like sinking – it could be a chance of getting caught.
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