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How Coronavirus is Impacting on Digital Advertising Ecosystem

The Covid-19 outbreak in the United States has the highest number of known cases in the world, and looks vastly different than it did months ago. More than 3900 people with the coronavirus have died and there are almost 1,88,247 total cases in the whole country according to the New York Times Database.
This pandemic disease is spreading and governments around the world are trying to protect everyone by closing schools, public spaces and borders.

All the physical events such as business conferences, concerts and sporting events have been canceled and the global markets are in free fall. The major IT companies are encouraging employees to work from home. This pattern of working behaviour has led to a change in lifestyle among the consumers as they are spending more time online than before.

Digital Marketing Blog

How Marketers are Responding

1.Adapt Short- Terms Strategies

It's time to change the media strategy for long term or short terms. It has been observed that 61% marketers are altering their short term media strategy whereas only 9% are making long-term changes.

It's the best time to move from offline media to online as people are more clear to take an online approach.Digital media is consumed at a higher rate due to the online lifestyle of the post-corona consumers.

2. Use Flexible Channels

It's time to move towards the flexible channels where consumers' presence and available impressions are increasing.
The channels we can use to increase the short term media plans are digital display ads, social media and online videos.

3. Think of Long - Term Concern

An existing and common concern among everyone is that no one really knows when pandemic will get over and everyone can get back to their regular lives.

There has been less digital spends in certain industries like travel, retail,however many online services are likely to increase their online spend. Services such as online food delivery services, streaming or online news are benefiting from the higher online presence and are likely to take the larger market share in the near future.

What All Things To Keep In Mind During Pandemic

The time shall pass

Nobody can predict the future, it's understandable. All we can hope is this too shall pass. During an outbreak, it's important to stay focused on long-term and not shy away from the new growth opportunity. Branding is the best worked long-term. There’s no need to spend too much on marketing as it may impact negatively when the pandemic is over. Don't forget- in the middle of the crisis, there lies an opportunity

Seize The Opportunity

This is a complete new time for everyone, not the consumers. The new online behaviour is observed as most people are working from home and are staying indoor.Consumers may be online when the marketers are working. The activity pattern would shift to mid day when activity in the normal circumstances is low. Media will be cheaper as marketing budgets in certain industries are cut.

Digital Opportunities

As many industries have decreased their marketing budget, there will be a sharp drop in CPC prices due to decline in the competition. There comes an ideal opportunity to acquire new customers at lower cost than previous.

Consumers are spending more time reading or watching the news than ever before. Its the best opportunity for marketers to capture more eye-balls by advertising on popular websites at the lower cost.

Adapt to New Customers

For a successful brand, being online has never been as important as it is today. Try to do your daily work as business but be digital. Locate your target audience and study how their pattern has changed and find ways out to target them.

Understand your target audience's emotional wants and context, what they want, how one should communicate to them. Don't underestimate your audience by telling about how coronavirus has affected them and their business.

Conclusion:

There are no second thoughts on how this pandemic has left the mark in history.We have now seen how different industries and marketing efforts are affected. More digital solutions need to be considered. It's time to start shifting your marketing strategies on an online platform. Xira Pro is here to help you.

Stay home. Stay Safe.