What Social Distancing Means to Advertisers
As social distancing and a remote workforce increased, media habits changed as well. According to Nielsen’s research, streaming subscriptions alone increased by 60% with as many as three-quarters of subscribers adding additional streaming services to their subscription list. With the cost of advertising decreasing, and the opportunity for visibility increasing, it’s a perfect storm of opportunity to invest in advertising on TV-connected devices.
Adjusting the Strategy
Deborah Fuddy, President and Media Director of MediaSource Worldwide, a leading media buying agency, explains the benefits of adjusting media strategies during this life disruptive period.
Now is actually a perfect time for many advertisers – with increased viewership and more inventory available (due to a decrease in demand) – this is the perfect opportunity to increase the reach and frequency of your messaging in order to strengthen and elevate your brand message and position in the market.
Major event cancellations and the shutdown orders have reduced many businesses down to the essentials, but that, in turn, signals the opportunity to build brand awareness at a time where ratings have increased, and costs of advertising are lower.
Increased Foot Traffic
With consumers streaming more media as they are in social isolation, this offers up an opportunity for restaurants, grocery stores, medical offices, retail shops, and other brick-and-mortar businesses to gain exposure.
“The trend we are seeing is that not only can broadcast, OTT/CTV and streaming audio ads drive increased online visits to your website, more online orders, and registrations, but also more foot traffic to essential businesses,” explains Deborah Fuddy, President and Media Director at MediaSource Worldwide.
In short, there is great hope for continuing business at a time of a global downturn – and it’s sitting in front of everyone at home right now, while they also have their smartphones in their hands.
This is a paradigm shift and it’s a time to re-strategize media plans and use this opportunity to optimize communications and dollars to elevate your brand message and position. And this is not just applicable to OTT and CTV, but it’s inclusive of broadcast/cable and radio and streaming audio, too. For more information on how to navigate an effective media campaign during this paradigm shift, contact our team today.