The Gist of advertising and marketing industry:

COVID has affected very badly and it’s direct impression comes on consumer behavior. And because of that steep fall in print and cinema advertising took place. This industry runs hand in hand with consumer behavior, if the consumer behavior is changing the industry has to adapt the way the consumers are behaving and have to switch according to them only.  

Facts:

• In the latest BARC data–the viewership of news channels in India grew by 57%
• The advertising on news grew by 21% to about 10 million seconds of free commercial time (FCT)
• Advertising on the kids’ genre went 27% up while Hindi Movies genre and Hindi GEC witnessed a jump of 8% each, in FCT

How Marketing and advertising agencies are dealing with the situation?

Everyone’s case is different, for some people there are good opportunities to increase advertisement spend and certain clients are seeing an increase in sales at low cost. On the other side, some of them are reassessing their marketing efforts.

Where should businesses focus for now?

They should focus more to build campaigns on brand awareness and engagement rather than on conversions as we are seeing a lot of more audiences out there because of more time and with that, lack of competition because many advertisers are pausing their campaigns. So people are more engaged, but they’re converting less. I like to think of it as a browsing audience, which is not a bad thing but requires different messaging for the campaign.

And how does it affect the digital advertising and marketing because of that?

Many of the advertisers have made their plans to shift from traditional media to digital media. It will be explain by the below picture.

GAMING INDUSTRY

Gaming Facts

• Analysis from GamesIndustry.biz shows that sales across 50 key markets rose by 63%

• The global video game market is forecasted to be worth $159 Billion in the year 2020

COVID-19 has boosted engagement with games but has complicated hardware and software development

The COVID-19 lockdowns have boosted user engagement with video games and e-sports. As a result, the Asian gaming giants Nintendo and Tencent both saw an increase in sales during the first quarter. Both the giants sold half of their games digitally which is the record that helped them increase their profits by 41%.

Similarly, platforms like YouTube Gaming and Facebook Gaming have also experienced a sudden growth of around 20% increase in hour’s usage.

CONCLUSION

As saying, that every challenge brings in a new opportunity, like-wise the COVID-19 and its challenges, has made the compelling need for newer ways and means of connectivity and thereby a relook at digital marketing and advertising approach. One of which is IoT (Internet of Things) based applications to reach out to masses (especially, in time of pandemics or natural calamities), in today’s or should say post-COVID -19 times. Shortly, we can see a rising awareness and increasing focus to IoT (Internet of Things) solutions being thrived in by the marketers and leading digital heads.

-Prerna Sharma