How significant an effect will the virus have on marketing and sales?
businesses have slowed down ad spend during the lockdown ,The crisis will affect some industries far more than others.
69% of them have indicated that there is either a high or possible likelihood that they will be decreasing their ad spend this year. Presumably some of our respondents are from regions in lockdown and will have already stopped ad campaigns for products they cannot currently sell.
65% of the industries say that their firms were already reporting a noticeable decline in revenue.
Most of the remaining firms are probably in essential industries or regions yet to experience the worst effects of the coronavirus.
Companies social media posting during pandamic
It should come as no surprise that nearly three quarters of the firms have slowed down their social media posting , many companies may still be posting, but less frequently there has been a shift in preferred social networks over the last few weeks. Twitter has surged in popularity recently
No business will escape the virus’s impact
small businesses and brands will have to think carefully about the financial crisis produced by the pandemic , companies trying to survive at the moment. They have reduced their spending wherever possible , lay off employee is a result of the economic slump conditions caused by the Coronavirus
More Than 40 Percent of Brands Rising Sales of Products are Essential
A lot of the stores are closed right now, but some places like restaurants are open as they are considered essential along with a long list of other types of businesses , distinct movement in the types of goods on which people spend their money. They are shifting their spending to essentials, and a limited range of non-essentials
Ad Spend on E-Commerce Doubled
Searches for “buy online” skyrocketed in March globally, reaching up to 27K+ searches per month. This compares to about 15K searches at the start of the year , brands have increased their spend on online advertising, even B2B firms.
The Coronavirus has had a massive impact on the media; however, its effects haven't been equal. There are clear winners and losers. There has been increased interest in news, and this sector saw a 52% increase in ad spending , 47% of Display Ads Have Been Paused, Cancelled, or Pulled
58% of People Ages 18 to 39 Claim to Have Ordered Grocery Items Online for Store Pickup
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Google and Facebook ad revenue in 2020.
The countries with the strictest lockdowns have seen the highest use in messaging apps. Facebook has seen 70% more time spent on its apps in Italy since the crisis started. Instagram and Facebook Live views doubled in a week. Group calling (with three or more participants) increased by over 1,000% in a month.20x Increase in Italian YouTube Watching in February , UK YouTube watching time "only" grew 6.5x in February,
Twitter Conversations About COVID-19 Increased 4x in March , Overall Engagements on Influencer Posts About the Coronavirus Exceed 2.9 Billion They looked at posts that included the hashtags #coronavirus, #covid19, #covid, #pandemic, and #coronavirusoutbreak. The most popular of these tags was #coronavirus,
Despite people spending increased time on Facebook and increasing their overall time online, both Facebook and Google are likely to lose considerable ad revenue in 2020 , they Predicted to Lose More Than $44 Billion in Worldwide Ad Revenue
Cost Per 1,000 Impressions Are Down and Cost Per Click is Flat or Down
IMAGES COURTESY OF influencer marketing hub
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