Impact of the Corona Virus on the Advertising Industry
Covid-19 did not spare advertisements when it came in full force in 2020. Two significant shifts happened that impacted the industry heavily.
Halting Several Traditional Advertising Platforms
Why pay for advertising if people were no longer in the strategized areas? This was one of the questions that companies had to answer especially when it came to billboard and print advertisements. With the government insisting on public containment to control the pandemic, sales on placed ads and print media went down.
There is a simple and predictable dance between a country’s economic status and advertising. However, the recent pandemic has made this more difficult. Although companies need to continue advertising, they need to have the money to do so. This has not been the case with the coronavirus. It has even become harder to predict how recovery will play out since researchers still do not know how people will react in the virus’s aftermath.
Redirection in Advertising
As with many major events, there are winners and losers. Although the pandemic significantly affected traditional advertising methods, other forms survived and even thrived. A good example is the massive increase in social medial advertising.
It has now become almost mandatory for businesses that want to survive in the 21st century to be on social platforms. Advertising for free is however not as effective as paid ads on platforms such as Facebook and Instagram. However, they are worth every spent amount since they also come with ad tracking tools to give constructive feedback.