Before the coronavirus pandemic, there seems to be a consensus among marketers and advertisers that online marketing will soon take over traditional advertising methods. Although a lot has changed in the past years because of the proliferation of digital billboards, traditional media have largely been impacted by the arrival of social media and other forms of online Lakeland marketing. The pandemic has furthered the regression of traditional media into the annals of history. What does being in a state of quarantine with only the internet to keep us company mean for businesses?
Rerouting the Budget
Many advertising firms and agencies are now looking for more space on the internet than in magazines and newspapers. They’re even more focused on online advertising than making commercials for television. With people basically stuck to their phones all day, this is an opportune time for online marketers to reach this audience and engage them. This means that ad agencies are pouring more into online ads than taking out an ad on a traditional medium.
The same can be said for companies. As a businessman, you know that people are spending more time online than watching television or reading the newspaper. Some media organizations have also temporarily closed down their print editions to save on costs, and also to follow the physical distancing measures imposed by the government. This means that if a company wants to promote itself right now, it will do so through the internet and not through traditional media.
Companies aren’t just rerouting their advertising budgets. They are also cutting their advertising budgets, which means there is little money to compete for. Unless there’s a need for these companies to promote a new product or make a new campaign under the circumstances of a pandemic, they will try to shelve such projects to save on costs.
This has a profound impact on traditional Lakeland marketing methods. Not only are they not being picked over online ads, but the budget to compete for doesn’t even exist anymore. Where will companies bring this small advertising budget? To a billboard that no one will see? To a newspaper that cannot be distributed? Or, to an online campaign that can reach millions of people?
It’s easy to see why traditional advertising is being trampled upon by online ads and campaigns. The cost-effectiveness of promoting a business online has certainly dampened what traditional marketing methods can do for a business.