BizReport

RSS feed Get our RSS feed

News by Topic




BizReport : Advertising : May 14, 2020


Study pinpoints how advertisers have adjusted strategy

As with consumers, many advertisers are changing the way they are doing things, and it appears those changes will remain in effect until the pandemic has passed - meaning until there is a vaccine to help fight the virus. That is a key takeaway from new Advertiser Perceptions data which shows that half of brands have now cut plans to launch a new campaign in the midst of COVID-19 concerns.

by Kristina Knight

In addition to canceling campaigns, brands and marketers are pushing campaign launches (73%) and some are even putting on pause all new campaigns (42%) until later in 2020. Just over half (52%) of advertisers polled for the Advertiser Perceptions report say they'll begin ramping up new campaigns during the summer months.

One of the more interesting changes, though, is this: for many advertisers 'future planning' now means no more than 90 days out. For many pre-pandemic, planning for the future meant finalizing holiday campaigns as early as June or pushing back to school by July 1.

For many advertisers, the reasons to pull back on advertising isn't just because people can't go to malls or restaurants just yet. It's because they aren't sure about the relevance of campaigns for consumers during this time or they aren't sure how to hit the right notes to encourage buying while remaining somber about the deaths, loss of jobs, and other factors that consumers are dealing with.

"Advertisers know they need more empathetic ads, but many aren't sure about the message or lack creative," said Justin Fromm, EVP/Business Intelligence at Advertiser Perceptions. "Media brands with deep audience intelligence can inform strategy and even produce creative tailored to their content. . .In the meantime, sellers need to key on contextual relevance and ad performance. Pinpoint where a brand's consumers are within the audiences for specific content, and show how ads perform for similar brands in consideration and action terms, most notably traffic and sales."

Other interesting findings from Advertiser Perceptions include:

• 43% say they'll resume paused/cancelled campaigns 'when revenues have stabilized'
• 26% say they'll ramp up the ad spend by June 30
• 59% of advertisers have 'shifted' ad spend among different media types

More data from Advertiser Perceptions can be found here.






Tags: ad strategy, Advertiser Perceptions, advertising, advertising trends, COVID-19 ad strategy








Subscribe to BizReport







http://www.bizreport.com/2020/05/study-pinpoints-how-advertisers-have-adjusted-strategy.html

 

 

Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.