How is Coronavirus Changing the Advertising Industry?

The coronavirus has caused a global pandemic. It has changed everything. It has changed trading among countries. It has changed service-oriented businesses. And it has ultimately changed the world of advertising as well.

The advertising world has always been hard to navigate for business owners. The pandemic has left many confused, with lots of unanswered questions. What do SMEs need to know about advertising during such unprecedented times? Is there already a “new normal”? Are these changes only temporary? Or should you steer clear of advertising for the rest of the year?

Where and How Should You Advertise?

The digital world tends to respond more quickly to world events and trends than traditional forms of advertising do, so it makes sense that the effects of the coronavirus were most quickly evident online. The major publishers—the big social media platforms and search engines—saw an uptick in traffic. But, before you turn to a big publisher to advertise your business, you should be aware that the reason people were increasingly going to these sites wasn’t because they wanted to buy something new. In fact, they were going to check for updates and news on the virus. So unless your company is selling medical supplies, this increased traffic will probably have nothing to do with your keywords.

This leads us to our next point. When advertising online or anywhere else, you must be extra careful with your words. Ask yourself how your ad will look next to a tweet about mortality rates or after a news report on the increasing infection and death numbers. Be sensitive to how you word and present your advertisements, and always listen to any feedback you get.

Ultimately, brand equity is the most important for a company. As Warren Buffett once said, “It takes 20 years to build a reputation and five minutes to ruin it”. You can’t make your customers think that you are abandoning them. China has been great at following this statement, as only 7% of companies there pulled their advertising spend according to a survey conducted by the Dentsu Aegis Networks. It’s crucial to keep advertising to maintain a long-lasting relationship with your customer base.

Sweet Tips from Ally

Keep these tips in mind as you advertise during the pandemic:

1. Don’t just advertise on the most popular platforms; figure out where most of your customers are and advertise there.
2. Brand equity is always important!
3. Make sure you stay sensitive and always think about how people will react to your advertisements.
4. Don’t turn advertising “on” and “off.” Always look for different ways to advertise so you can reach your customers.