With the major multinationals axing media budgets there seems to be light at the end of the tunnel for the small to medium sized business owner.
More space and less noise leaves a crack of PRIME advertising real estate for the smart business owner or entrepreneur.
With some 81% of large advertisers deferring ads, according to the World Federation of Advertisers (WFA) which surveyed its members collectively being responsible for $57 billion in media spend it’s not surprising that ad space will open up for the smaller players.
More than half (57% to be exact) of those surveyed said they had decreased budgets greatly or somewhat due to the virus outbreak. KFC is a prime example of this sort of action.
Those that know this, know that there is a significant opportunity that has a limited window. Giant brands will be created during this time and you won’t even know it until 3 – 5 years from now.
At this point if you do not have an online presence I am sure you have felt the pain so many businesses have felt during this time. Advertising Expert and Public Figure Gary Vaynerchuk expresses his feeling that it just doesn’t make sense to him why someone won’t leverage a scalable sales channel like the internet in the year 2020.
Unfortunately it still remains a reality and something all businesses will need to adapt to.
The cat is out of the bag now, the tide is out and we can see who has been swimming naked.
Right now, if you sell direct to the consumer – the paid media channels that have opened up and have high upside potential are Facebook, Instagram, TikTok, YouTube & Google according to the Direct Response Advertisers at LUNA Digital.
These channels can provide analytical, measurable and logical return focused metrics giving your brand the competitive advantage of under priced attention and a scalable asset potential during these strange times.
Almost all the platforms, except for TikTok currently could be considered your most return focused channels if you had an additional $10,000 to invest.
At this point it would be wise to look at the generation that is most familiar with these platforms and that speak the native language for your best chance at leveraging them successfully.
There are multiple reputable direct response advertising agencies that are run by successful Generation-Z Founders which you can tap in to simply by searching for them in their native environment.
If you need another good indicator that the current economic times could be a watershed moment for e-commerce the CTO (Chief Technology Officer) Jean-Michel Lemieux of Shopify, pulled back the curtain by tweeting on the Thursday, 16th of April: “As we help thousands of businesses to move online, our platform is now handling Black Friday level traffic every day!”
If you can manufacture, ship and deliver your products or work from home and produce results for your clients during this pandemic, you must.
In the words of Anthony Robbins, ” If you can you must, and if you must you can”
The online landscape is changing every day and evolving at a faster rate than ever before. It’s harder now than it ever was to keep up and not feel a sense of FOMO in the process.
But those that do end up taking advantage of the market shifts while multinationals are contracting while everything seems so volatile are the chosen ones who will be able to come out of this in a better position for themselves and investors.
“As we help thousands of businesses to move online, our platform is now handling Black Friday level traffic every day!”
The wise choice for larger brands would be to find a Unicorn or a Growth Hacker Marketer. But this rare breed of marketer is in high demand and is being recruited by the large multinationals for a high price.
Getting a Unicorn is expensive and not knowing what you’re doing can cost you just as much.
The alternative for smaller or medium sized brands would be to bring a partner or vendor on-board that can help their business thrive and not only survive during these uncertain times.
Just remember that for every downturn there will always be an upturn.
The market will always return to its mean eventually but the difference between those that took advantage of this disproportionate opportunity and those that didn’t will be very obvious.