The end of the coronavirus pandemic seems bleak at the moment. However, what is clear is its effects. Thousands of shops, schools, public spaces, and even countries are closing in an effort to contain the virus' spread. Even conferences like the Mobile World Congress in Barcelona, which AlgoriX was supposed to be a part of, have been canceled. These things led many advertisers to question - will these changes be permanent? How will the digital advertising landscape change after the pandemic? Will there be a need for us to reassess our strategies? Let's find out.
Use Technology to Adjust to Budget Cuts
Many businesses are now encouraging their employees to work from home, and this work from home life can bring in changes in how consumers will interact t and engage with brands. Much of this interaction will be online, and this will mean more savings for brands.
Today, a considerable percentage of brands depend on old-fashioned content and strategies catered to print and TV ads. With the COVID-19 pandemic, organizations are now making budget cuts in their advertising spending. How can marketers adapt to this? One strategy they can apply is by using modern dynamic creative optimization (DCO) technology. This display ad technology can create personalized advertisements in real-time. Since the creative is directed and relevant, it can significantly outdo static equivalents. By eliminating the manual creation of creatives, brands can save tons of cash since they no longer have to pay for every single creative they develop.
Shift to Direct Marketing Efforts
Retail is among the sectors profoundly affected by COVID-19. As such, establishment reliant on retail received a significant blow. At the other end of the spectrum, however, are e-commerce and direct-to-consumer entities that are flourishing amid the shelter-in-place orders. Given this scenario, many brands are now considering redirecting their resources to digital marketing to attract consumers to their mobile apps and websites.
Even food brands are now bringing their products online and shifting towards creating personalized targeting. Big corporations like Facebook, Microsoft, and Google are now asking a significant portion of their workforce to start working from home permanently. Why? Because even as the quarantine orders start to ease out, it will take a while before people go back to their regular routines, if at all. To survive and avoid the bankruptcy path, brands should prepare as early as now. Many consumers now realize that such services are possible -- all at the comforts of their homes.
Consider Agile Marketing as the New Normal
Perhaps one of the defining lessons marketers can take from this coronavirus pandemic is the importance of responding rapidly to unexpected consumer behavior. Many brands now realize that creating ads need to be 1:1. Sending a template message for all targets would not cut it if they want to stand out from the competition.
They need to take action in real-time if they want to stay relevant. As online competition becomes fiercer, brands should realize that agile marketing would be considered the new normal. They need to quickly identify and zero in their concerted efforts on projects that help their bottom line. To do this, teams must continue to measure the impact of their campaigns and improve their output over time.
Will digital advertising change post-pandemic? Yes, it will. The key here is that marketers need to sit down, rethink their plans, identify technologies that would bring results, and apply only those that would bring profit to their businesses. This way, it would be easy to focus on the "essentials."
Learn how AlgoriX is adapting to these changes by connecting with us.