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.
‘You’re not going to get it all right’: IBM CMO Michelle Peluso on managing through a crisis
As marketers manage another crisis, they are thinking about how to help their teams as well as how they should be advertising.
‘Stand for something’: As protests continue, tone-deaf influencer marketing is in the spotlight
Questions about diversity in influencer marketing, opportunism and the need for brands to get comfortable with influencers taking a stance on politics and racial issues are bubbling up now as this may be a moment of self-reflection for the influencer marketing community.
‘There isn’t a talent pipeline problem’: Confessions of a black advertising exec
In this edition of our Confessions series, in which we exchange anonymity for candor, we hear from a black media buyer who believes brands need to do more to support for Black Lives Matter and that agencies still haven't truly changed their hiring policies.
SponsoredVideo: Marketers discuss the future state of less interruptive in-stream ads
In a new video, experts from GumGum, The Martin Agency and Pinterest discuss the future of video advertising — and outline their vision for how video ads can be less disruptive.
Member ExclusiveDigiday Research: Over half of brands say they handle marketing ‘mostly’ with internal resources
Digiday’s quarterly benchmarking survey found that about 83% of marketers are managing their marketing either mostly in-house or completely in-house. That's up from the 55% of marketers six months ago who said the same.
Member Exclusive‘Our job is to sell’: Marketers, moving past coronavirus response, return to selling products
Marketers need to get back to the job at hand: Keeping the squeaky wheels of capitalism turning.