It is common for most companies to experiment with different online advertising strategies in order to determine the best value for money. For example, a digital agency encourages clients to leave King Kong advertising reviews online because they are synonymous with word-of-mouth recommendations. Each review becomes a free advertisement for the digital agency.
In the advertising industry, ad spend is usually based on the rise and fall in GDP. Since global GDP has risen by 3 to 6 percent each year over the last decade, the ad market has grown proportionately to about $646 billion in 2019. However, that was before the coronavirus pandemic.
A considerable drop in advertising was experienced during the pandemic. Companies across Europe have to rethink their marketing strategies because the remaining months of 2020 will be very challenging. Companies have to address changing consumer behaviours by adjusting their advertising strategies. It does not make sense to continue with media advertising if there is no audience.
Print advertising and cinema advertising immediately shrank as stay-home orders were issued by governments. However, TV viewership and digital consumption increased particularly on social media platforms, streaming services, and gaming. Marketers have to adapt which means increasing their spending on digital advertising.
Online advertising is very favourable to direct response campaigns that encourage consumers to make a quick purchase. Online advertising will benefit brands that do not want to increase their spending on advertisements but desires to increase their sales. However, does this mean that they will be able to withstand the effects of the pandemic?
Not exactly because of the uncertainties in consumer spending and consumption patterns. There are elements of human behaviour that can permanently change. Consumers may want different products in the future. Data that was previously used by marketers to determine marketing spend may no longer be useful.
Each of the King Kong advertising reviews that were posted online by a client is a form of advertisement for the digital agency. There are lots of opportunities from reviews to gain brand recognition and improve search engine results. Reviews are free advertisements particularly if the feedback is favourable to the digital agency.