The recent pandemic has changed the way that businesses are approaching and handling ad spending. With consumers in quarantine, and businesses closing left and right, it’s not surprising to hear that new marketing trends are emerging as a result. One such trend that the market is observing is reduced ad spending from traditional brick and mortar businesses, but increased spending from tech, and online-based businesses.
Businesses that are Reducing Ad Spending vs Businesses that are Increasing
Bed Bath & Beyond, Marshalls, and Dicks Sporting Goods are prime examples of retailers that are cutting back on their ad spends; whereas tech companies like Apple, website companies like Godaddy, and streaming services like Disney+ are all bulking up their spends.
According to Winmo, Apple alone saw an increase of +$51.6 million in ad spending compared to February of 2020.
With so many stores closing, you aren’t going to see the same kinds of ads you’re used to seeing; the ones encouraging shoppers to go out and buy-buy-buy. Because of that, businesses that aren’t limited to a physical location have a bigger advantage.
Also worth noting is the rise in ad spending in the food industry.
Despite their dining areas being closed, franchises such as McDonald’s, Wendys, and Burger King are spending a lot more on ads; reminding customers about the various delivery options that are available. More than just cable TV, you’ll see more and more of these ads on streaming services due to an increased number of people working from home.
Ad Spending Down? Consider a New Approach
Three words: Custom Television Network.
When ad spends are on the low-end, it’s the perfect time to explore some of the new marketing tools that are out there. Specifically, ones having to do with the TV. Just about every business has a TV, and 100% of businesses have something they’re trying to sell. The TV in your business is the best tool to promote your services, and your brand. But that’s only possible with the right business TV software.
Recommended: “The Best Marketing Tool 2020: Your TV“
In addition to being the best place to put your TV advertisements, custom TV networks are incredibly cost-effective. One business TV provider in particular, It’s Relevant TV, features live social media integration and over half-a-million videos to entertain your visitors with. This not only helps generate more followers on social media, but delivers your marketing messages in a more meaningful way.