Marketing dollars spent on the “out of home” sector may see an improved ROI by shifting to digital tactics during COVID-19, as consumers are spending significantly less time in their cars driving past billboards or attending trade shows.
According to a recent study by Global Web Index on the impact of Coronavirus on consumer behavior, Broadcast TV, online videos, and online TV streaming take the top spots overall for increased media consumption.
“While coronavirus dominates demands for news coverage, consumers are also looking for positivity amid the pandemic at this point in time. For some, this means seeking escapism in the form of consumerism: As a result of the outbreak, 15% of consumers in the U.S. and UK are using social media to read more updates from brands. 19% of consumers are researching products to buy more,” explains Global Web Index.
Among those surveyed, consumers have essentially become a more ‘captive audience’ in their own homes, with 87% of U.S. consumers and 80% of UK consumers consuming more content as a result of the outbreak. Consumers are also looking to be entertained, with 70% in the U.S. and 69% in the UK approving of brands providing funny/light-hearted videos or content.
Gen Z: Just over half of Gen Z say they’re consuming more online videos like YouTube and TikTok, making it the top form of media they’ve increased using since the start of the outbreak.
Millennials: Livestreams (30%) and podcasts (20%) are more popular among millennials than other generations. Watching more online TV also peaks at 41% for millennials.
Baby boomers: 42% of boomers are consuming more broadcast TV, compared to 24% of Gen Z. Just over 1 in 5 boomers are also spending more time watching online TV.
How do you plan to utilize these mediums to reach consumers during the stay-home movement? Will it be a light-hearted video, a Facebook sales promotion or an ad on your ideal customer’s favorite podcast?
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