“Stopping advertising to save money is like stopping your watch to save time.” – Henry FordCONSISTENCY
During this time of COVID-19, many businesses/advertisers may have questions about how to approach their own advertising efforts, and whether or not to advertise at all. Here is some research from the VAB and Spectrum Cable regarding media consumption and advertising during this time:
1. TV is a Lifeline
TV has become the centerpiece of the household, with 8 out of 10 people saying they couldn’t imagine not having a television right now…
2. News, News & More News
Almost 50% of viewers have at least one TV always set to a news channel…
3. Advertising Impact
Brands should not worry about a negative perception with advertising in COVID-19 news coverage or programming…
1. Source: VAB, As Time Goes By: How Media Consumption Is Helping America Cope, Apr 2020 / Lucid ‘Media Usage In The Time of COVID-19 Survey,’ April 2020. Survey base: P18+ & household subscribes to cable, telco, internet TV or satellite TV (n=1,004). Q7: Thinking of your behavior since the start of COVID-19, please indicate below how much you agree or disagree with the following statements & Q9: Thinking of your behavior during the COVID-19 Pandemic, please indicate below how much you agree or disagree with the following statements.
2. Source: VAB, As Time Goes By: How Media Consumption Is Helping America Cope, Apr 2020 / Lucid ‘Media Usage In The Time of COVID-19 Survey,’ April 2020. Survey base: P18+ & household subscribes to cable, telco, internet TV or satellite TV (n=1,004). Q6: Thinking of your behavior during the COVID-19 Pandemic, please indicate below how much you agree or disagree with the following statements, top 2 box (agree completely or agree somewhat).
3. Source: VAB, As Time Goes By: How Media Consumption Is Helping America Cope, Apr 2020 / Lucid ‘Media Usage In The Time of COVID-19 Survey,’ April 2020. Survey base: P18+ & household subscribes to cable, telco, internet TV or satellite TV (n=1,004). Q16: In general, do you feel it’s appropriate for companies to advertise in COVID-19 related news programming? & Q17: Would you boycott a company because it advertised in COVID-19 related programming?. Graphs: Q14: Some companies have created specific COVID-19 related advertising messages (e.g. Guinness, Ford, Burger King, Verizon). How do these types of advertisements typically impact your perception of a brand? & Q15: Some companies are lending resources (e.g. Comcast donating free internet, Ford, 3M and GE Healthcare making healthcare equipment), or helping local communities during the crisis (Miller Lite starts ‘virtual tip jar’ to support out-of-work bartenders). How does this affect your likelihood to purchase a product or service from this company?
1. DO be authentic
2. DO revisit your creative often
3. DO look closely at segmentation to inform new strategies and messaging
4. DO assess the media channels where your customers are spending their time
5. DO choose the premium options — which have more credibility with consumers
6. DON’T assume your audience is consuming content the same way they always have
7. DON’T blindly restrict your ad placements
8. DON’T share anything insensitive or that could induce panic
Be sure to click here and link to the full blog post: https://theblog.adobe.com/the-dos-and-donts-of-advertising-during-covid-19/
Regarding the advent of COVID-19, the current business climate feels a lot like being stranded in deep water and trying to stay afloat. In the short term, we are all scrambling to figure out how to get through this unprecedented global challenge. Auto dealers will be running on fumes for a while. But dealership owners are also thinking strategically about the future, how to emerge from this short-term crisis in the strongest long-term position possible, and that involves everything, including new processes and marketing of said new processes.
Take a look at the following article, titled “How Car Dealers Can Survive During the Coronavirus Outbreak”: https://www.thedrive.com/tech/32672/how-car-dealers-can-survive-during-the-coronavirus-outbreak
The article has a lot of great, relevant points regarding long-term planning in light of the new normal, including the following:
- The “new normal” may lead to a larger paradigm shift rather than just a short-term challenge.
- New car dealers who begin offering the same kind of home delivery and online transaction services (as used-car companies like Carvana and Vroom) in earnest will be able to take strategic advantage of a void in the market.
- Start building and implementing a true home delivery and online transaction process now.
This will be necessitated by: 1) lingering consumer wariness about being in public spaces for long periods of time, 2) consumers’ heavy reliance on online shopping/delivery services in the short-term leading to consumers rewarding online shopping/delivery services—across ALL sectors—in the long-term, 3) a shrinking base of consumers in the market for a car, requiring dealers work harder to get a share of that shrinking pie, 4) dealers who have worked to implement a true and robust home delivery and online transaction process NOW will have strategic advantages over those who have not.
Dealerships that start to “paddle” now will be best situated to “ride the wave” to success. Those who don’t will be left behind, bobbing in the water and watching their competitors ride to shore.
In anticipation of these emerging realities, we recommend the following:
- Make sure that a true and robust home delivery and online transaction process is in place and fine-tuned as soon as reasonably possible.
- Creation of a special area on the dealership website that is dedicated to communicating AND facilitating this home delivery and online transaction process.
- When ready, push the message out to consumers who show in-market behaviors via digital messaging.
“Great content is the best sales tool in the world” – Marcus SheridanGreat Content