3 Strategies Your Brand Can Follow to Capitalise on The Rapid Growth in Online Media Consumption

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3 Strategies Your Brand Can Follow to Capitalise on The Rapid Growth in Online Media Consumption

Since the beginning of the global lockdown, many things that we have taken for granted have drastically changed. 

The vast majority of people in non-essential jobs were driven into working from home or were furloughed for the foreseeable future. With a good chunk of the population now stuck at home and a limited number of things that can offset stress and provide an escape from the reality we are currently facing, an entertainment vacuum appeared.

Almost 33% of consumers stated they wouldn’t be comfortable attending live events for at least the next 6 months.

As millions of people started to look for their daily entertainment online, internet usage more than doubled. Streaming services like Netflix and Disney+ soared with 80% of U.S. consumers now subscribing to at least one paid streaming video service. 

In a recent Media Nations report, however, there is a trend that shows consumers’ shift into free online video streaming services over paid ones, with over 75% of people surveyed stating that they have used YouTube since the lockdown started. This is closely followed by other social media and live-streaming platforms that don’t require a subscription to access live content.

The live-streaming service that takes the cake is Twitch – growing in viewership an astounding 101% YoY 2019 to 2020.

Live-streaming has indeed been building up during the last few years, especially when it comes to gaming content. But with Twitch reaching unprecedented 1.5 billion hours watched in July 2020 it’s a whole different game.

If you are not already asking yourself, how can your brand use this unexpected rapid growth in online media consumption to your advantage – you should start by following one of the 3 strategies we’ve prepared for you below.

  1. Double down on your marketing efforts – on the right platforms

This is an uncertain time for many companies. With the lockdown having a harsh effect on everyone’s revenue, you have to think fast and make swift, effective decisions about your budget. 

It’s not the time to cut your marketing expenses, but you should absolutely rethink what to invest in. Just keep calm and follow the consumers – spending your advertising budget on live -streaming and social media sites with the most significant viewership growth will bring you much more value than sticking to what worked for you pre-lockdown. 

Takeaway: Invest heavily in platforms with the biggest growth: Twitch, Youtube, TikTok, Instagram, and Facebook

  1. Don’t sell – entertain, support, and educate 

When the crisis is over, and everything goes back to the new normal who do you think will be left standing – the companies that launched intrusive self-promotion throughout all their digital channels or the ones that took a more human approach to this challenging situation?

A great example to follow is Marie Forleo, weekly show host and author based in N.Y.. She recently published an excellent blog post, full of advice, information, free resources, and pretty much anything and everything her average reader might need right now. 

Takeaway: Provide your audience with what is relevant to them at this very moment, listen and empathise, and find a way to give some value back to your online community.

  1. Partner up with someone – use existing audiences to grow

While consumers migrate into the digital landscape by the minute, influencers gain followers at an unprecedented rate. Starved for the human connection, people try to compensate by engaging with content creators online, which is strikingly evident on platforms like Twitch and TikTok. 

There was never a better moment to partner up with influencers since the beginning of social media.

Content creators quickly adapted to the lockdown reality and now they hold more power and influence than ever. Since the offline activities are down, likes, comments, and engagement are up. It’s great news for brands, meaning that with each influencer collaboration they can successfully reach a much higher percentage of their target audience than ever before.

Takeaway: Dive into the influencer marketing as soon as possible. If you are not sure how to find the right influencers for your brand – leave it to the professionals. Adshot will provide you with all the advice and support you need to launch a successful marketing campaign in minutes.

Following our 3 strategies, your brand can come out of lockdown stronger than ever before. So take a leap of faith and get ready to take full advantage of the recent shift in consumer behaviour. Use the growth that is currently happening across all online media to empower your business long-term.

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