Why brand managers turned to social media during the lockdowns
SMITH BRAIN TRUST – When staying home was the only option during the coronavirus pandemic, people turned to the internet to get their fix of entertainment and interaction. For brands, this became their chance to join the conversation.
Between Facebook’s 9% increase in daily users, and Twitter and Snapchat gaining 11% and 20% respectively over the last quarter, it’s clear that social media platforms were experiencing a boom, Maryland Smith’s P.K. Kannan said in PR Daily.
"However, the same coronavirus related causes which have led to these increases are responsible for tepid revenues for ads on the platforms. While these platforms have not experienced a meltdown in advertising spending in the last quarter, the coming quarter is going to be difficult with revenues from ads decreasing significantly as firms tighten their marketing budget,” said Kannan, the Dean’s Chair in Marketing Science at the University of Maryland’s Robert H. Smith School of Business.
Read more: See how Kannan says brands should start crafting their social media strategies by going to PR Daily’s article, “Paid social media dominant during COVID-19.”
GET SMITH BRAIN TRUST DELIVERED
TO YOUR INBOX EVERY WEEK