The whole world grappling with the COVID-19 pandemic and the businesses, industries and economies have come to a sudden halt due to the complete lockdowns and social distancing. It is impossible to not see its impacts on mobile marketing and advertising sector along with other sectors. As the world creates new systems for dealing with the impacts of COVID-19 along with self-isolation mandates, marketers are adjusting the plans they made at the beginning of the year. With the global recession on its way, the decline in business spends will surely have an impact on marketing and advertising budgets too.
These current times of COVID-19 and its challenges have given rise to newer ways and means of connectivity to reach out to masses and to reconsider digital -mobile marketing and advertising approaches.
- The companies have modified their advertising budget by shifting from traditional outdoor marketing to digital and mobile marketing as there is a significant spike in the end-users consuming content on their mobile phones or TVs while staying indoors.
- Companies curtailing their marketing budgets for the short term.
- According to research firms, during the current times as TV and digital media platforms are witnessing higher usage, therefore, they are likely to get more ad spend so as to attract more consumers
- As per the BARC data- the news channel viewership in India grew by 57%, and the advertising on news grew by 21% while advertising on kids’ genre went up by 27% and Hindi movies genre witnessing a jump of 8%
- Around 45-50% of marketers are holding up the marketing budget in these times of uncertainty and will relook into the strategy post the COVID-19 recede.
- 15-20% marketers consider this as the best time to focus on their brands by recreating their mobile campaign content and strategy.
These times of global crisis can be seen with optimism and is looked up as an opportunity by marketers and advertisers to build a positive brand image of their brands by switching to cause-related campaigns. It is the best way forward to gain the trust of their consumers and to get benefitted with ROIs in the long run.
While looking forward we may see a rise in the focus and awareness to IoT solutions in the marketing and digital advertising, the new age online businesses that have got a major hit during this phase may reconsider their advertising budgets along with the advertising strategies as soon as the economies are resuming to normalcy.