Don’t be opportunistic, build trust: Madison Report on advertising during COVID-19
Madison Media's 'Marketing just went viral!' report offers an insight into advertising during the times of the coronavirus pandemic and how brands can stay afloat
The coronavirus pandemic is considered a black swan event. In other words, it’s an unpredictable event that has far-reaching consequences. With economies bracing for large impact, the event may have far-reaching consequences on marketing and advertising. In a report titled Marketing just went viral! compiled by Vikram Sakhuja, Partner and Group CEO Madison Media & OOH, which offers an insight into the world of advertising during the days of COVID-19. Following are six key takeaways for advertisers to stay afloat during the crisis.
Stay close to the consumer
The report advises advertisers to invest in staying close to the consumers. For that, they may have to invest in “listening tools to capture category and brand sentiments. “
Air messages relevant to consumers
The report points out that customers are open to advertising during the pandemic. So advertisers should focus on airing messages that are relevant to their target audience. The caveat is that they should refrain from being opportunistic. At such times, building trust is more important than short-term sales.
Get audience assurance on TV deals
It’s a great time to advertise from an efficiency standpoint, says the report. Advertisers should aim for audience assurance on TV deals. With increased Online Supply of Biddable inventory, the report states that CPMs will be low.
Good time for moment marketing
The time is ripe for moment marketing, according to the report. Employing contextual placement and intelligent retargeting can work.
Make active trade-offs
If pressures of profit and loss are forcing budget cuts, it’s better to make active trade-offs says the report, than merely scaling down plans pro-rata.
Advertisers should invest in promoting sales on e-commerce platforms during COVID-19 times.
Make messaging authentic
During these times, it’s important for advertisers to build trust and reassurance through their messaging. Marketing messaging should be authentic and topical. It needs to be controlled and not viral.
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