Challenges of Video ads
COVID 19 has turned and created unprecedented times in the global economy. It is believed to be the “black swan” which has sent shockwaves across the global economy, from small businesses to large industrial houses. COVID 19 has not spared anyone and is creating havoc until now. Factories are shut and marketing industries are put on hold. With the continuation of lock down, one can see effects leading up to fundamental shifts in consumer buying behavior and media consumption. Consumers are spending money on essentials, health, and hygiene products. As people are fearing to step outside their homes, one can see a tremendous increase in online shopping groceries and medicines.
Video ads response from customers
Advertising has seen explosive growth in the context of digital marketing. Advertisers of various industries are responding to situations differently. Digital marketing and e-commerce will benefit the most during this phase. The most important question arising now is what advertisers should do in the current situation. Video Marketing 2020 has seen changes as an outcome of COVID 19.
Key Video ads planning for advertisers:
- Prioritizing brand building
With increased TV and OTT viewership and lower demands, it is the perfect time for investing in brand building. Video content is also an option to prioritize in brand awareness among consumers. One major way to execute brand building is by exploring higher ACD’s with the knack for storytelling which satiates consumers.
- Right communication
Messaging is the most effective way to increase the sensitivity of consumers and focus on safety and care in each message sent. Communications spread should be effective and useful to the audience and should be seen as optimistic and futuristic. Attention grabber tool from Easywebvideo is one of the ways to create video content for right communication. With so many fake news leading in the market, the brand image mustn’t be compromised in any way. TV advertising is the most trusted source in the present times for effective communications.
- Strategizing for long term
Media strategy should be in line with the disruptions in content consumption. Organizations should utilize this time to focus on digital media to enable businesses to make better decisions. The internal experts can engage in a wider organization with digital workshops and webinars. This lockdown can be used to address some long-pending questions which lead to digital space in terms of spends and capabilities.
- Plan for FY 21:
For the next FY, advertisers need to adopt the digital-first approach considered as the “new normal”. To keep reality in check, media plans need to be aligned with business considerations such as the timing of non-essential demands which have returned to peak levels. Investments have to be done for brand building.
Brands that go against the current norms of COVID 19 and increase their investments for brand building will have a misappropriate portion of the customer’s mind. And they will be able to recover faster than any other industry.