Marketing spends on lower-funnel channels are likely to be seriously impacted by the coronavirus pandemic.
As COVID-19 impacts marketing budgets, digital video ad spending is forecasted to decline to 5.2% YoY as per eMarketer. The report estimates video ad spending could drop anywhere between 1.3% to 21% for Q2.
Further, lower-funnel marketing channels like search advertising is expected to decline between 8.7% and 14.8% in H1 2020. Display ad spending is expected to drop between 19.4% and 38.4% in Q2 of 2020.
However, digital video ads have the potential to grow as much as 7.8%, states the report. Marketers could leverage digital video ads for brand building as many channels like radio are disrupted. The article adds that communication software companies like Zoom and GoTo Meeting collectively spent $45 million on ads in Q1 2020.
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