The US Ad Industry Lost $17 Billion During the Pandemic

The US ad industry lost $17 billion in the pandemic's first 13 months

Did you know that the US ad industry lost $17 billion in the Pandemic’s first 13 months? That’s more than 5% of their entire annual revenue! So it’s no wonder why companies are scrambling to find new and innovative ways to market their products. But even as businesses face an uphill battle to rebound, digital advertising proves more resilient than traditional media.

With so much competition, how can your business stand out? Keep reading for some valuable tips.

In the 1st Quarter of the Influenza Pandemic, Ad Spend Declined a Whopping 17.9%

One of the reasons for this sudden slump is that businesses stopped spending money on marketing while figuring out how to proceed once their employees started getting sick. For many people, going to work was even more dangerous than staying at home after being exposed to the virus.

For many businesses, it took them an entire year to get back on track with advertising (some didn’t make it to the other side). The year-long gap happened because they struggled to figure out how people would go about their daily lives without jobs or entertainment during this time.

Part of this has to do with the fact that going out was dangerous, but it had to do with too few people being left buying products and services. Unfortunately, this means that even though ad spending is currently up, many companies have reduced their sales staff since then!

A Shift From Traditional Media to Digital Advertising

In addition, a lot of traditional ad spending has moved from television and print to the internet. It is a result of some factors, including the ease of using Google AdWords to get messages of yours out there without spending money on marketing teams and TV packages advert slots.

During this period, online ad spending increased by nearly 11% because people were still online, but they weren’t spending as much time watching TV or reading papers. Since Google and other search engines have a quota on the number of people who can see an advert each day, this caused prices for adverts to rise.

It seems digital advertising is shaping the future of marketing in many ways. While it’s still unclear how long this type of ad spending is staying high, one thing is clear: businesses need to utilize search engine optimization strategies now more than ever.

By taking advantage of pay-per-click (PPC) advertising and other methods for increasing their SEO ranking, companies can ensure that they’re not at a disadvantage when getting their products and services in front of potential customers.

Instead of waiting for your company to downsize or lose business opportunities, why not seize the day right away? Increasing your SEO ranking gives you an edge over companies that don’t have the time, knowledge, or human resources to compete. To avail incredible offers for your communication needs, we recommend checking out Cox Online.

Where Should Investment Be Focused Going Forward?

Digital advertising is here to stay. The question is, where does your money need to go to get the most out of PPC?

Digital marketing works because you can measure your return on investment, meaning that instead of throwing good money after bad, you can see which strategy pays off and then allocate more funds to those that work (and de-allocate some from those that don’t)

For most companies, it’s worth investing in PPC because these types of ads are a target.

Instead of hoping that your ad is visible to someone who might need your product or service, you can be sure to get in front of people likely to be interested in what you have to offer.

By allocating funds to the right marketing strategy, your business gets the best returns on its investments. Therefore, it is essential to fully understand what you can do with digital marketing and then focus on that rather than on strategies that may not be as effective or even cost-efficient.

Do You Have What It Takes to Succeed?

One of the main reasons PPC marketing is so effective is because it requires a lot less effort than traditional types of marketing. Many people view digital advertising as the future and deploy strategies accordingly. 

Research shows that companies who adapt their business models to take advantage of online marketing strategies succeed than those who don’t embrace this change. In other words, those who accept that advertising is shifting to the internet and taking advantage of digital tools can adapt more quickly to a changing business environment.

If your company has what it takes to survive the challenge, we hope our article helps you navigate the digital landscape better. Good Luck!