Media consumption is up, as the coronavirus pandemic is keeping most people worldwide at home. However, with an economic slowdown trashing markets and the supply chains disrupted by the pandemic, many advertisers are pulling or pausing their ad spending. They are seeing that increases in media engagement aren’t translating into increased ad revenues.
Local television stations are touting increased viewing, but with 10% unemployment, consumers aren't buying.
News publishers are seeing a surge in traffic, but they are also seeing falling advertiser demand and prices.
Depending on your industry and your company's products or services, you may still want to have a presence in the market, but spending should be carefully monitored and ROI is an important metric to watch.
The economy will recover in a few months, meanwhile, don't go overboard with your ad budget. There is a fine line between keeping your name awareness and spending too much.
At Media Management Services, Inc., we continually pursue the latest developments and trends in the marketplace to implement your marketing goals. We develop integrated 360° media plans that leverage both traditional and digital channels. If you need help with your marketing decisions during these unchartered times, give us a call.