Jay Prasad is Chief Strategy Officer for LiveRamp TV, a data connection platform used by brands and their partners to deliver exceptional experiences.
As the nation Given the pandemic and economic uncertainty, fundamental changes in consumer habits are causing marketers to rethink existing strategies and budgets for influencers and streaming TV.
These significant shifts are nothing new; Just as the dot-com bubble reduced landline penetration and increased acceptance of cell phones, the last recession has switched traditional advertising spending to digital. This used to be an option, but the recession accelerated the trend to target select audiences on social media platforms, leading to influencers.
Social media influencers are so pervasive today that they may become meaningless.
Before the onset of the corona virus, the influencer trend declined, while the streaming TV trend became more important. Streaming is still in vogue today and influencers have actually found increased engagement, but face credibility issues that could reduce the perceived value of brands.
According to Nielsen, streaming has similar, if not more, targeting features to social media, but now the eyeballs – the captive audience of quarantined Americans – rose 20% in March, according to Nielsen. Marketers on a tight budget will be forced to reevaluate their relationships with influencers to increase advertising spending on streaming TV services.