Following the outbreak of Coronavirus, software company eyeo reported that the advertising industry will need to adapt in order to recoup lost revenues.
The report suggests that marketers need to adapt to how they advertise to consumers with altered needs. Marketers will need to address them with relevant ads in a calm and non intrusive manner, according to eyeo. It was also mentioned that there will be an increased need for digital more than ever.
eyeo is the developer of a suite of products that includes Adblock Browser and Adblock Plus, an open source project that aims to rid the Internet of annoying and intrusive online advertising.
Ben Williams, director of advocacy at eyeo, said: “Although we need to consider an economic loss in all business areas, consumers will still spend money, especially online. But consumers’ online behaviour will become more value-focused; they will expect a meaningful and relevant experience on content and especially advertising. In addition, while we cannot expect advertisers less affected by this, like grocery stores, to fill the inevitable advertising spend gap left by sectors more affected, we might expect consumer preferences to shift to different, more essential products.”
