Remaining Relevant: The 3 Things Marketers Need to Know (WEBINAR)
QuickFrame and Tinuiti combed through all the data and advice around marketing during a global pandemic to deliver just the three most important things marketers need to do to make sure their brand remains relevant during the COVID-19 era.
Our discussion, held on April 14, was full of creative examples of brands that are going up the funnel with OTT and paid social, engaging audiences via organic social, and optimizing their sites for conversion rate.
Watch the full recording of the webinar above and check out the highlights below.
COVID-19 Marketing Macrotrends
- Starting in mid-March, media consumption grew rapidly, pretty much across the board. Overall, in-home data usage was up 37% YoY in March.
- As coronavirus has changed the way people are living, consumers are spending more time on social media, with noticeable traffic growths across all major and rising social media platforms.
- Digital ad budgets have declined. Major dips in ad spend started on March 12 across most categories. The major exceptions we’re seeing right now are in the CPG and Pet Goods spaces.
- CPMs on Facebook are falling. With decreases in digital ad budgets, there’s inherently a decrease in competition in the ad auction. There are fewer people trying to grab space and attention on Facebook and Instagram right now—a 23% drop in CPM that has continued into April.
MORE DATA: For the latest performance marketing spend trends and content analysis, check out QuickFrame’s COVID-19 Video Intelligence Insights.
Three Marketing Strategies to Employ During the COVID-19 Pandemic
Follow the People
Following your target audience is a general marketing best practice—we want to show people what they want to see and communicate with them where they are spending their time. The coronavirus and the resultant stay-at-home directives have drastically shifted human behavior and media consumption.
- Streaming video is surging on all platforms and across devices. According to eMarketer, 147 million U.S. adults will watch ad-supported CTV & OTT content this year.
- Streaming is enjoying many of the same decreases in CPMs that social is seeing.
- Use behavior-based intent data to focus on relevancy in OTT, rather than mass reach.
- OTT video creative should more mirror Linear TV than acquisition-focused social.
- Leverage OTT’s data-rich opportunities by thoughtfully designing creative to A/B test.
- Don’t be afraid to repurpose existing footage or go all-in on animation.
- TikTok is trending and is #1 in the App Store. Read our creative best practices for TikTok advertising in Advertising Week 360.
With ad budgets significantly cut for many, marketers are leaning into organic channels. 4A’s Research Services indicated that consumers are eager to hear from brands right now.
- You should position yourself as a helpful or hilarious brand.
- Use your messaging to Inspire, Educated, and Entertain.
Improve Your Odds
Consumer spending in general is down across the board, so first impressions matter more. It’s critical that you find ways to get your audiences to convert successfully.
- Retargeting is an opportunity not just on social, but also on OTT. You can retarget individuals who visited your website on their TV screen.
- Instead of driving new prospects to a general PDP or homepage, create a landing page that will capture their attention during this time and drive conversion.
- Focus on your eCom strategy right now. Consider integrating video into your eCom experience as video has been shown to increase conversion rate.