Priority Ad Spending As A Result Of Coronavirus Pandemic
Nine in 10 (89%) advertisers say that the coronavirus pandemic has impacted their advertising efforts, with one-third (34%) reporting they have cancelled a campaign completely before it was launched and another 38% having paused advertising efforts until later in the year.
But amid this disruption in advertising, research from Advertisers Perceptions shows that performance media will be getting more attention.
The survey found that two-thirds (65%) of advertisers agree that the emergence of the coronavirus pandemic will result in advertisers focusing spend on media that can show direct sales outcomes.
Although a great deal of media such as display (47%), paid social (45%), digital video (43%), linear broadcast TV (41%) and linear cable TV (34%) have been paused, cancelled or pulled budget from, only about one-quarter (24%) of advertisers have pulled back the reins with paid search.
Indeed, paid search is the channel for which the largest share (24%) of advertisers are retaining or even increasing budgets.
Decreased ad spend as a result of the coronavirus outbreak is expected to have the biggest impact in Q2, with optimism prevailing and more than half (57%) of advertisers feeling it will have only a minor or no impact in Q4. Read the rest at Marketing Charts.
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