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The vast majority (80%) of large advertisers are deferring their ad campaigns, and more than half (60%) say they’ve already cut their budgets “somewhat” or “greatly.” That’s according to a new survey from the World Federation of Advertisers. So reports Forbes.

arrow 98577 1280Meanwhile, at least one analyst says the U.S. advertising industry could lose up to $26 billion in 2020.

However, as the pandemic ravages even the world’s biggest companies, there is still opportunity. Innovative brands can leverage their marketing efforts to find ways to break through to consumers. After all, as sales reps have less in-person interactions, marketing has an opportunity to fill the void.

“The best marketing is like a magnet that attracts the right prospects,” according to the Forbes article. “It allows you to create a sales funnel, pull prospects along the sales process and educate prospects about the brand. After a while, educated consumers are the ones who are likely to trust the brand enough to spend money with it.”

Read the full article from Forbes.

 

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