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Data Points on Marketing Industry and the Coronavirus

Disappointment and Opportunity
Data points represented by a woman holding up holograms of graphs and charts

Dealing with an unknown, one tool to help define a position, plot a trajectory or understand the situation is data. We’ve heard of the disastrous effects the virus is having on many major industries; the advertising industry is no exception. Here are some recent data points:

GLOBALLY

– The advertising industry is either slowing or rapidly pivoting in new directions
– There is a clear shift in buying behavior. Consumers’ priorities are rapidly shifting: de-prioritizing buying “nice-to-have” items in favor of those labeled “need-to-have.”
– With screen consumption up (TV and Mobile) TV is actually benefiting from the pandemic

NATIONALLY

– 62% of national TV advertisers released creative specific to COVID-19
Digital search, digital video, social media are showing single digit increases while double digit decreases are posted for radio and print
Of National Advertisers:
– 74% said pandemic will impact ad spending more than 2008
– 46% have adjusted media spend for the same period
– 63% have changed their message

REGIONALLY (NJ)

– Local Radio. Though reps don’t really want to admit or share, advertisers are cutting back on radio simply because “drive time” doesn’t exist right now
Local Cable. A VP of a major cable company reports numbers are “through the roof.” Most impressive gains are in the 9am-4pm time slots (+78%)
– Outdoor. Many outdoor advertisers are looking to postpone campaigns till June, reports a major outdoor company’s VP, though auto advertisers are doing very well

Re-frame, re-focus or re-treat?
If you need an opinion, we’re around.
Stay home. Stay safe. Stay sane.

Thanks to publishers of AdWeek, AdAge, Mensio and Statista for helping with this data points presentation