As we make our way through the socially distant life of the COVID-19 pandemic, advertising agencies and their clients are facing an unprecedented level of uncertainty.
The Interactive Advertising Bureau reported that 74% of media buyers, planners and brands say the coronavirus will have a bigger impact on advertising than the 2008 financial crisis. Overall spending on digital ads is down 33% while spending on traditional media is down 39% from what companies had expected to lay out.
But as Nielsen data shows, when people are forced to stay inside, they watch about 60% more content than usual — and brands are taking note. They’re ditching their usual ad campaigns to make room for coronavirus-centered content. Ikea is urging us to embrace our abodes, Hershey’s chocolate is asking us to spread love from a distance, and Hotels.com’s Captain Obvious is stating the obvious: Just stay home.
Commercial shoots, like all film productions, have shut down amid the outbreak. But that hasn’t stopped advertisers, marketers and creators from imagining new ways to attract the eyes of the millions of people at home watching television and scrolling through as many digital platforms as humanly possible every minute of each day. And according to experts in the field, brands could effectively enter the COVID-19 conversation, depending on their category, geography and philosophy.
The advertising and marketing world, like the economy itself, will no doubt suffer greatly in the weeks and months ahead. People everywhere are losing friends and family members as well as jobs, paychecks and health insurance to the coronavirus. Consumers aren’t spending as much as they used to, and they want brands to show their compassionate, philanthropic side.
Article : HuffPost