Digiday Research: How ad spending is changing in the coronavirus era
This research is based on unique data collected from our proprietary audience of publisher, agency, brand and tech insiders. It’s available to Digiday+ members. More from the series →
The vast majority of ad campaigns are on hold or canceled — 73 percent of buyers said brands are now “pausing” campaigns while they assess their next moves.
A new survey from Digiday/Glossy that asked 100 brands in the retail, fashion and beauty industries about changes they’ve made to their marketing strategies.
Ad position: web_incontent_pos1
The top five channels brands were either temporarily reducing or temporarily leaving were in print advertising, direct mail, out of home ads, TV/radio and podcasts, and of course, events. The top channels brands planned to permanently reduce or entirely eliminate advertising in were events, TV/radio and podcasts, and online display.
The largely unscathed channels were Facebook, Instagram, TikTok and online search.
Ad position: web_incontent_pos2
The data gives a snapshot of the marketing industry at a time where many are debating whether there are permanent, lasting effects of the current crisis.
The survey also asked those who had plans to grow expenditure in certain channels and if the crisis has made them rethink those plans.
About 22% of respondents said they would postpone plans to spend money on out-of-home ads, while 48% said they would postpone plans to do any new marketing events.
The survey also asked about the top business concerns for 2020 in light of the coronavirus. Finding the right marketing channel mix was the top concern for 30% of participants, while 58% of brands said its acquiring new customers.
The impact of this on the industry is stark. While most of the data so far has focused on the expenditures falling, the fact is that ad impact is relatively diverse depending on category. The IAB found in an earlier study that among those adjusting spend, there was a 33 percent drop in spend on digital media, and a 39 percent drop in spend in traditional media. The biggest impacts there were on print and linear TV, as well as display, in line with Digiday’s results.
More in Marketing
In the marketing world, anime is following in the footsteps of gaming
As marketers look to take advantage of anime’s entry into the zeitgeist, they might be wise to observe the parallels between the evolution of anime as a marketing channel and the ways brands have learned to better leverage gaming in recent years.
With the introduction of video ads and e-commerce, Roblox looks to attain platform status
Roblox is expanding into more areas than just ads in 2024. Much like platforms such as Amazon and Facebook have transcended their origins to evolve from their origins as online marketplaces and social media channels, Roblox is in the midst of a transformation into a platform for all elements of users’ virtual lives.
PepsiCo wants to remain a ‘driver of culture’ as it turns to influencers and activations amid rebrand
The soda-maker says it can translate cultural relevance into sales volume.
Ad position: web_bfu