How the Corona Virus is Affecting the World of Advertising - Tiana Torres-Mendoza
It’s no secret that the world around us is changing quickly. The COVID-19 virus has crossed the globe and impacted communities everywhere. People have changed their behavioral patterns due to the surrounding environment including product hoarding and panic buying. One question people may have is: How does this affect the advertising world?
Advertisers rely on the data of typical consumers behavioral patterns to know who to target in an advertisement to get consumers to buy a certain product. The sharp incline from panic buying at local grocery stores will impact consumer data in the upcoming months. Advertisers now have to show their product as essential enough to be bought in a time where consumers are stocking up in preparation for an apocalyptic situation. This may be easy for hygienic products; however, this will be more difficult for luxury items. This will also prove difficult due to the consumer being stricter with their budget in a time of massive layoffs and uncertainty with savings and upcoming bills.
Advertisers will also need to scrap or postpone any advertisements that they were about to release that does not currently fit in with the urgency in the consumer daily life. Many agencies will need to hold urgent meetings where creative teams will need to work quickly to develop a new complete ad campaign for their product to give it the best chance of increasing sales.
Many consumers are also now choosing to stay home in a self- quarantine meaning that most, if not all, advertisements now need to be easily seen without the consumer leaving the house. Most of the ads will need to be on social media such as Facebook and twitter, as well as in commercials.