TV Working Overtime To Drive Leads, Sales
Most clients are currently in a situation where they are having to make fairly dramatic decisions that will impact both their short- and long-term sales goals for 2020. Supply chains, distribution channels, staffing, infrastructure, media commitments, etc…to name just a few of the moving parts clients are juggling.
Of course, there are clients who have halted their TV/Audio/Digital Video media plans due to circumstances out of their control. Most who have pulled rely on a distribution channel that includes a face-to-face interaction at some point in the consumer journey. No sense driving leads if they can’t close them.
Clients doing business with a direct-to-consumer model, thus eliminating the need for face-to-face transactions, obviously are not impacted by the above. The vast majority of their sales are captured via e-commerce and/or a remote telesales team. We suspect many of these clients will, at a minimum, maintain their current media cadence. Some, we suspect, may actually increase their presence on TV and Audio.
Broadcasters will need to fill this time - with both programming and advertisers.
The traditional media landscape has been turned upside down. All live sports programming, as we know it, is gone for the foreseeable future. This not only impacts the TV landscape but Audio as well (think Sirius, podcasts, sportstalk, etc..) The empty airtime will need to be filled not only with inviting and interesting content, but advertising to support it. For marketers, this is an area of opportunity.
Networks are going to have to significantly decrease media rates to entice business.
As a result of having to fill this new vacuum of airtime, networks are scrambling to figure out how to hang on to the huge sponsorship dollars clients committed to the NBA, MLB, NHL, Golf, etc. Our suspicion is these clients are not going to be satisfied running in reruns of the 2019 World Series. They are either going to re-deploy those dollars or hang on to them. Either way, the networks will need advertiser support. We are seeing this happen already.
From Nielsen: Media Usage Expected to Rise During Crisis: Nielsen
Local TV viewership across all markets is seeing significant increases.
Local broadcasters are the most trusted source for information. Viewers are turning to local news in droves.
Clients are considering leaning into the current broadcast market conditions.
Low Rates + High Viewership + Networks Need to Fill Time = Potential For Clients To Keep Their Lights On. Clients are trying to keep the train moving, and the role of their agency is help them strike the right balance. Nobody is cheerleading the situation we are in. It’s important to be dialed into how the client – and their agency – are perceived on-air.
DRTV/Audio/Video is much more than a media tactic.
Simply buying DR media alone does not get clients where they need to go. The opportunity is to manage this unique world of action-driven creative, offer testing, calls to action, call/digital lead funnels, analytics, DR media planning and buying, etc.
The current situation isn't easy for anyone. The key is staying informed, working together and looking at opportunities to help your business without being tone deaf. To hear more about the state of TV, digital video and audio, feel free to reach out to us here.