Industry group IAB Australia has just finished a spot survey of marketers and media agencies to gauge their advertising intentions in the digital market during the coronavirus crisis.
The results, from a poll of 78 media agency and marketing executives, are similar to those in the US where 70% of buyers quickly adjusted or paused their planned ad spend as the pandemic dragged on the economy.
The headline result for Australia: 86% of brands have changed their digital ad investment over the last month.
More than half are reviewing advertising plans at least daily. One in five (21%) indicated they have paused all their ad spend, while 57% have decreased some of their spend and 15% have either increased or maintained their spend.
Of those who have decreased spend, 31% reported they are dreviewing whether they will be in a position to invest later.
While 44% who have decreased spend noted that this covered brand and performance equally, overall performance and tactical investments have been hit hardest compared to brand investment, with companies adjusting their products and messages in a challenging market.
“The Australian advertising market is in step with the global experience, with some brands simply not in a position to spend at the moment and the majority of other brands adjusting their spend, creative messaging and tactics to suit the current market," says Gai Le Roy, CEO of IAB Australia.
The survey provides a quick read of the digital ad market ahead of the quarterly online advertising expenditure reports prepared by IAB with PwC and due out May.
The details of the spot survey:
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