The whole world is under pressure to adapt to the new changes as COVID-19 engulfs the whole Earth under it. No one knows what vaccine is at what stage. Moreover, it will take quite some time to get back into what we perceive as normal life. However, during these times, many organizations decided to cut down heavily on their marketing budgets. Recently, Google had also slashed 50% of its marketing budget just so that they can live to fight the future. Grandiose Digital Media during this pandemic has also helped few influencers in achieving their online marketing goals.
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Is it a good idea to invest in marketing during this pandemic?
There has been a significant decrease in traffic on the road and even though TV viewership has also increased by 40%. However, it could not match the spike in the internet consumption. Furthermore, an increment of 70% was noted post the arrival of COVID-19 in internet consumption. Keeping the provided numbers in mind, digital marketers can now benefit from digital advertisements in a world confined to our hands.
Advertisers look for Digital Advertisements over Billboard Advertisements
Apart from the billboard advertisements, digital advertisements are a low-cost investment as compared to the billboard advertisements. This difference in cost is a major reason why many companies and individual marketers are investing heavily on the digital side of the market as the budget constraints tighten month by month. Apart from the budget constraints, advertisers are also facing the issue of reaching to their target audience. A consequential amount of the budget is now spent on the audiences who are either not interested in the product or simply do not have the budget for it.
The world is currently facing this pandemic and going through a tremendous amount of hardship. Businesses are spending on building their exposure through traditional marketing platforms which are expensive and less effective, however, the digital aspect of it is relvantly cheaper and generates better exposure for their brand. Coupled with an effective target audience, a brand can also gather loyal customers through this pandemic.
Let’s hope that we fight COVID effectively and this whole world gets back to its normal lifecycle again.
Source: Economic Times