COVID-19 IMPACT:

Online Media

Industry Update: 06.07.2020

Vertical: Online Media
Type: B2B
Covid Impact on Demand: Positive
Covid Impact on Ability to Supply: Negative
Viable Transition/Readjustment: Yes

We’re just ordinary people.

The business world now recognises that pandemic conditions are here to stay.

SoPro have direct access to several hundred B2B marketing operations, spanning 60+ verticals. In recent weeks we have seen major movement in global sentiment, shifting from defensive tactics to proactive strategy as realisation sets in.

We are now witnessing the largest and most complex change management project in the history of humankind.

The worlds businesses are rapidly readjusting to compete in a new world. Here’s how.

Online Media, what are we seeing?

COVID-19 is creating opportunities and challenges for the online media sector. Social distancing has generated a heavy spike in at-home media consumption whilst also changing content consumption and patterns. But it’s being starved of the most valuable broadcast content such as live sports, leading to spending reallocations by advertisers and a subsequent drop in income for media companies. There’s also a concern for the new content pipeline with a need to identify and generate new content during social distancing restrictions.

Business demand on ad-inventory has also risen sharply from some sectors) as many traditional marketing channels have been rendered offline due to the pandemic social restrictions. Other sectors have reduced budgets as they shore up cash flow to weather the pandemic. Net global demand is down more or less globally, but returning to normality at time of this review. Media placement prices are down slightly as a result.

What do these businesses need to do now?

1. Adjust your business targeting

We’re seeing no change to targeting within this sector.

2. Review your marketing channels
MARKETING CHANNELS VIABILITY
B2B Direct Mail

NOT VIABLE

Telesales

NOT VIABLE

Paid Search

PARTIAL VIABILITY

Networking dinners/drinks & Partner Events

NOT VIABLE

Tradeshows and Exhibitions

NOT VIABLE

Awards Circuit

NOT VIABLE

Door to door sales

NOT VIABLE

Digital Outreach i.e. B2B prospecting

VIABLE

3. Revise your proposition

The biggest changes we are seeing to media propositions involves the commercial structiure.

Multi-platform/multi-format media inventory packages are being heavily disrupted due to certain package components being offline.

Pricing is being adjusted to enable business to advertise now pay later.

Remnant inventory is being creatively redployed to great effect, Sky’s SME 100 is a great example of this.

4. Revise your messaging

Solve your prospect’s problem. Offer advertisers a clear path to solving today’s customer engagement problem with tomorrow’s finances. Set out attractive commercial terms if able.

Set out your offering as a solution to the wider marketing channel disruption that will be affecting your clients and prospects.

Many companies are struggling to secure quality channels to engage customers with the various media formats they have on hand. Set out clearly how you can assist connecting brands with customers at meaningful scale.

5. Drop the experts a line

At SoPro, business growth is what we do, and we've got the tech and team to quickly generate a healthy pipeline for your business. Our expert team are ready to discuss your campaign today.

Watch Our Video Case Studies

“One of the great things about working with SoPro is the dedicated team of professionals we have at the other end of the phone... For us, there really is no question. Having a prospecting service is vastly more beneficial than just having the tool. Put simply, it’s transformed our business.”

Nick Washington-Jones, Managing Director, Tack UK

Our Totally Bonkers 60 Second Explainer Video

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