Why Advertising During Lockdown Makes Strategic Sense
The current global scenario presents unique challenges and opportunities for businesses. Contrary to popular belief, advertising is not only a necessity but a strategic move during a lockdown. Let's delve into why companies should consider investing in advertisements now and how it can benefit them in the long run.
Reduction in Advertising Costs
One significant advantage of advertising during a lockdown is the reduction in advertising costs. With many traditional mediums facing a dip in viewership, advertisers are now able to secure advertising spaces at a reduced rate. This is a perfect opportunity for businesses to maximize their reach without stretching their marketing budgets.
Increased Engagement with Electronic Gadgets
During lockdowns, people are spending more time with electronic gadgets such as smartphones, tablets, and computers. This increased screen time presents a valuable opportunity for advertisers to reach a more captive audience. As consumers spend more time browsing online, engaging with mobile apps, and watching digital content, it's crucial for businesses to be present in these spaces. An interesting and well-crafted ad can capture attention and drive engagement even better than before.
Strengthening Brand Presence and Customer Retention
Another compelling reason to invest in advertising during a lockdown is to strengthen brand presence. When the world is in lockdown and traditional in-person marketing is limited, digital ads become even more vital. Running ads can help keep your brand top-of-mind, ensuring that your products or services remain at the forefront of consumers' minds. Additionally, advertising during a lockdown can help you retain existing customers and potentially attract new ones.
Meeting the Competitive Market
It's important to note that not investing in advertising during a lockdown can put your business at a competitive disadvantage. While some companies have halted their advertising efforts, the wise ones are leveraging this time to build their brand and customer base. This period of reduced competition can be a golden opportunity to gain market share and establish a stronger position in the industry.
Misconceptions About Advertising During Lockdown
There is a common misconception that businesses should completely halt their advertising efforts during a lockdown. However, the truth is that the lack of competition and reduced consumer movement can actually make this a strategic time to invest. Many brands are focusing on essential items such as FMCG (Fast-Moving Consumer Goods), and some e-services like e-commerce, fitness apps, and e-learning are actively advertising.
According to an excerpt from the Business Line on April 25, 2020, viewership for TV and listenership for Radio have been at their highest. These mediums, however, are waiting for the lockdown to open up and consumers to be able to transact. The reality is that these mediums are still seeking opportunities to connect with audiences, and companies that advertise effectively during this period can reap the benefits.
Conclusion
While the current situation presents unprecedented challenges, it also offers unique opportunities for businesses to be more strategic and creative in their advertising. Investing in digital and relevant advertising during a lockdown can lead to significant long-term benefits. Companies that do not understand the value of advertising during such periods risk falling behind their competitors, potentially leading to longer recovery times and lost opportunities. By understanding the current market dynamics and making informed decisions, businesses can emerge stronger and more resilient in the post-lockdown world.
Get your advertising strategy right, and you may just find that the lockdown period becomes the time when you solidify your position in the market and build a strong foundation for future success.