As consumers change their viewing habits, marketers are looking at changes in the way they spend their media buying habits, according to a survey by Viant.
Viant conducted its survey in January, before the Coronavirus crisis took hold, but the crisis is likely to push marketers to move faster as they seek better ways to reach audiences.
The survey found that 84% of markers planned to spend the same amount or less on their linear TV advertising. And more than half of marketers said they believed traditional TV ad spending to be less effective than it was five years ago.
Programmatic linear TV advertising is already part of the media plans being made by 20% of the marketers responding and another 20% said they plan to run programmatic linear campaigns in the future.
Household-level targeting has becoming an important metric for marketers who want to understand the impact that different media channels have on individuals.
“As we deal with this unprecedented situation brought on by COVID-19, it is even more imperative for marketers to apply an omnichannel strategy to their marketing campaigns to optimize their advertising budgets and business results,” said Jon Schulz, CMO at Viant. “Advertisers are working hard to balance traditional TV efforts with digital channels that reach consumers across the screens that are drawing their attention. I believe our analysis will help marketers and advertisers understand TV’s role before the COVID-19 outbreak, as well as guide their decisions given changing TV viewing habits.”
After the Coronavirus situation forced the cancellation of nearly all live sports events and concerts, Viant analyzed shifts in viewer behavior.
One of its findings was that when the NCAA Men’s college basketball tournament was cancelled, March Madness fans didn’t watch less TV. Instead of hoops, they were watching programs including NBC Nightly News, SportsCenter, Big Bang Theory and Diners, Drive-Ins and Dives at higher rates.
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