Advertising in the age of COVID-19 can feel, well, much like the pandemic itself––a bit frightening and confusing. Perhaps your business is limping due to the months-long shutdown, making your advertising budget feel even tighter, or, in the best-case scenario, your company is in the status quo. Still, your marketing strategy must undergo a significant overhaul to reach your customers during this challenging time.
While things feel out of control, remember that YOU control your business.
Here are some points to consider:
Whatever your advertising budget is, increase it.
While this wave of uncertainty may have you tempted to pull back on your ad budget, it’s in your best interest to maintain or, if possible––increase it. According to a recent Entrepreneur article, sitting idle is a colossal mistake.
The economy will boost, and your business will be left behind if you’ve let the marketing ball drop. A recent study showed that many consumers find comfort in hearing from their favorite brands and businesses, granted it’s the right message. Keep reading for more on that topic.
Digital media is king right now.
If you’ve been considering jumping from advertising in traditional media to digital, now’s the time. While traditional media formats such as magazines, newspapers, radio, and TV have long been declining, according to this article in Visual Capitalist, COVID-19 could spell the end for these platforms that once dominated ad budgets.
Spending across every type of traditional media format will decline in 2020, while most online media formats are expected to increase. As consumers spend more time at home during this pandemic, media spending reflects their preferred consumption platforms, including social media, online video, online display, and search.
Send a message of hope and help.
In addition to potentially making significant shifts in where you most effectively reach consumers during COVID-19, you will likely need to rethink how your message will best get through. An ongoing study conducted by Entrepreneur recently found that 76% of consumers have recently picked up new habits, behaviors, and routines in the wake of COVID-19, so you will need to spend time––and likely some budget–– studying how your target market has changed.
Need a good starting point? Fifty-six percent of consumers are happy to hear how brands are helping communities in response to the coronavirus pandemic, according to a survey conducted by the American Association of Advertising Agencies (4A’s) and real-time market research platform Suzy. Get creative and think about how your company can give back in some small way––whether it’s a donation to frontline workers or special pricing on a product or service that can improve people’s mental health and happiness during this challenging time.
Enlist an adaptive, full-service digital marketing firm.
Navigating advertising and marketing decisions in the age of COVID-19 requires agile thinking. Without concrete answers on when this may end and what our “new normal” may look like afterward, you must have the right team in place, ready to pivot at any given moment.
Consider working with a firm that offers full-service advertising and digital marketing capabilities. This way, you can easily make tweaks and shifts in ad buys and messaging at a moment’s notice.
This roller coaster of uncertainty will undoubtedly end, but an “all hands on deck” approach is critical to ensuring the success and survival of your business.
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