How Is COVID-19 Impacting Advertising, Marketing & Media?
Like everyone else, those folks who work in media, advertising and marketing have seen a dramatic disruption to our work and daily lives as a result of the COVID-19 pandemic. Many companies have instructed employees to work from home to practice better social distancing.
But social distancing also places a novel spotlight on our industry. The more society leans into social distancing to avoid the spread of COVID-19, the more each folk will think about media, especially digital media to stay informed, working, learning and entertained. Here are just a couple of samples of what I’m talking about:
• PBS and therefore the l. a. Unified administrative district (the largest within the nation) teamed up to launch distance learning.
• Video-conferencing services and collaborative working tools became essential to a distributed workforce.
• Entertainment is now home entertainment. One noteworthy example: Universal shifted its theatrical releases to streaming.
• Many phone, cable and ISP companies are vowing to stay customers connected, albeit they can’t pay immediately.
Already, we’re seeing the first impact of this shift to a more digital society. In the U.S., our Brand Intelligence tool shows a 40% boost in COVID-19 content engagement. With such a lot of news changing so quickly, it seems likely that reading, viewing and taking note of COVID-19 related content will still grow within the coming days, weeks and months. Likewise, as more and more people are being asked to remain home, we’re also seeing an increase in digital video and connected TV impressions. Our internal research shows a tenth week-over-week increase in ad opportunities globally.
Is Any Of This Surprising?
Briefly, no. the web may be a necessary tool for sharing information, and its importance only grows within the face of a crisis like this one. Social media provides a mechanism for both distributing information and combating social isolation. The digital video keeps us informed and entertained while providing important distance learning tools for college kids who have seen the varsity year disrupted. At an equivalent time, television, especially connected TV, is both a crucial source of stories and entertainment.
The overwhelming majority of those services, whether digital or television, are ad-supported. meaning our industry has a huge and important role to play in the fight against COVID-19. To be clear, the work we do will make it possible for society, the economy, and individuals to still function within the coming days, weeks and months.
How Can Individual Brands Respond?
In the face of the COVID-19 pandemic, nearly all advertisers will get to adjust their media plans. One important decision marketers got to make directly is whether or not they need their ads to seem within the context of stories about the pandemic. Choosing the proper context is vital and every brand will make its own decisions.
Though, no matter the strategy each brand sets, our internal research shows that there are media opportunities to support news coverage of the pandemic, also as media opportunities to bring consumers much-needed entertainment, business utilities, social engagements and education. Technology vendors and agencies have the tools to regulate for proximity so that brands can navigate their responses to the COVID-19 pandemic.
How Are Consumers Reacting?
With an onslaught of stories and therefore the biggest social disruption in generations, it’s not surprising that consumer sentiment is consistently evolving around the COVID-19 pandemic. That’s why brands need to lean into consumer sentiment tools. By understanding the topics and trends audiences are engaging with, brands can determine if, where and the way they need to interact within the conversation.
In many cases, the tones and messages that were ideal before the pandemic may have to be adjusted to satisfy audiences where they're today. In some specific categories, like food and health, marketers got to understand consumer sentiment around COVID-19 so that they will obtrude the foremost relevant and useful information as quickly as possible.
What Will This Mean For The Upfronts?
Advertisers got to plan for disruption to the present year’s television advertising upfront presentations. the bulk of the 2020 upfronts have already shifted to virtual events. Presentations are going to be more like webinars; deals are going to be struck over video conference, email or through programmatic interfaces.
However, there's no indication that the upfront negotiations or commitment to spend are being negatively impacted. While the industry as an entire will experience a decline in live sports and live entertainment inventory, we anticipate sufficient impressions from regular online video and connected TV to catch up on the decline in other areas. Simply put, the sort of content we watch will definitely change as a result of social distancing, but the speed at which we consume media will likely hold steady, or maybe increase.
What Can Our Industry Do?
Our industry has a crucial role to play, both in social and economic terms. Our work won't only support individuals in their time of need, but it'll also keep commerce flowing during these unprecedented times.
Additionally, we've got a crucial role to play in helping to prevent the spread of misinformation. By reducing the reach of misinformation, our industry can help save lives.