Digiday Research: How ad spending is changing in the coronavirus era
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.
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.
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.
‘Agile muscle memory’: How the pandemic’s delta variant made marketers and agencies apply newly learned flexibility
The focus on flexibility that has been built into ad deals as well as ad strategies over the last year-and-a-half has remained, making it easier for marketers and agency execs to adjust on the fly as consumer sentiment changes.
Why Facebook’s limits on teen targeting are all part of its algorithmic ad playbook
As Facebook puts new targeting restrictions on reaching teens, marketers say Facebook's ad targeting algorithm could do a better job of targeting ads to them anyway.
With the Metaverse hype cycle at full blast, experts take the long view
The newfound prominence of the Metaverse has led to heightened scrutiny, with some observers rolling their eyes at what they perceive to be the tech industry’s latest buzzword of the month.
SponsoredVideo: How publishers are preparing for 2022 — and the future
From shifts in audience content consumption to the rising tide of contextual targeting, publishers are preparing for 2022 and beyond. Following a year of transformation, and within the ever-changing timeline of the third-party cookie’s demise, Digiday and Responsive MTS teamed up at the Digiday Publisher Golf Outing in July 2021 to ask publishers about what […]
As gaming expands, endemic and non-endemic creative agencies emphasize their strengths
Though gaming-endemic agencies have a head start, non-endemic creative agencies are looking to muscle their way into the space using their advantages as larger and more established firms.
Member ExclusiveMarketing Briefing: Zenni’s vp of growth marketing on making the switch to ‘bite-sized’ planning windows due to Covid
To get a sense of how one brand marketer managed those shifts for a growing brand, Digiday caught up with direct-to-consumer eyewear brand Zenni’s vp of growth marketing, Courtney Fadjo Biro.