There’s a plethora of marketing news circulating right now…
Decreases in budget, lay-offs, and a steep decline in conversions to name just a few.
As such, this tsunami of information can make it difficult to ascertain what the key takeaways from the week’s news are.
Enter The Weekly Wrap: A weekly blog post that cuts through the noise and delivers the essential marketing insights, news, and frontline analysis that every marketer should be paying attention to.
As such, we will not only summarize the takeaway points from the week’s news… we will also highlight key insights from our clients’ campaigns and provide actionable recommendations that you can take in order to see success.
So sit back, grab a cup of coffee, and digest this week’s news.
Digital advertising spend across the board is down. However, there are signs that ad spend will be increasing.
- 35% of advertisers are increasing audience targeting & OTT/CTV device targeting
- 63% increase in mission-based marketing and cause-related marketing.
- Digital ad spend is down 33%
- Traditional media is down 39%
- Buy-side expects to increase spending in May/June, but not to the original plan
Listen to Ad Age’s podcast episode about the ‘winners’ of COVID-19 response ads
The winners are the brands who communicate that they’re actually doing something to help the crisis.
What’s Happening with Ecommerce Companies Amid COVID-19? (Rockerbox blog)
More companies are performing worse than before; however, the revenue change is smaller than for companies that are performing better.
- I.e., The winners are winning more than the losers are losing.
Mixed views on COVID-19 related marketing
- 40% feel it’s a good thing for brands to stay relevant.
- 33% say brands should only advertise if they’re directly addressing the situation.
Media Consumption is skyrocketing
- Young adults + parents increase social media use by 60%
- 50% of Americans are streaming more TV than before
- 60% of Americans are watching more TV
Small businesses are remaining optimistic
- Despite the fact that 75% of small businesses report decreased revenue, they are relatively optimistic about their chance of survival83% said they could survive with two weeks of current conditions
- 75% said a month
- 58% said three months
Insights from the Frontline (Client Campaigns)
Hobby and at-home leisure brands can still run product-focused ads – performance is up.
Other verticals have seen a dip in ad performance. However for these brands…
- Social-cause and mission-focused creatives drives more engagement than product-focused ads.
- YouTube ads that tell the brand’s story sees positive engagement
CPMs on the Open Web are cheaper than pre-COVID-19. As such, there’s a prime opportunity to do some cost-efficient branding.
Focus on branding: CPMs are lower so it’s a more cost-efficient time to do it + people look for stories during times of uncertainty so positive brand equity can be built + gaining awareness now means you can hit the ground running once restrictions are lifted.
Invest in Connected-TV ads if you have the budget
Digital audio is a channel worth considering (e.g. Spotify).
Launch a social cause (if possible) and advertise it.
And that’s a wrap for this week!
Please leave your thoughts in the comment section below or provide your thoughts in an email to us.
See you next week! Stay healthy and stay strong.