-by David Alpern

With many pharmaceutical companies announcing major strides toward a COVID-19 vaccine, America’s businesses will soon resume their growth planning …. and remnant media opportunities to buy unsold advertising inventory are aplenty.

COVID-19’s Effect on Advertising

During the pandemic, major media platforms have seen advertising inflow drop 50 to 75%. Radio, for example, has seen many stations implement a 2-minute commercial limit, since frankly there hasn’t been much by the way of radio advertisers during recent months.

The inventory exists on the supply side, but the advertisers on the demand side have been holding back. This means lots of remnant advertising opportunities, which is where Media Partners Worldwide has specialized for nearly 25 years.

What is Remnant?

Remnant media is very affordable, often discounted as much as 70%, and can help revive businesses after the coronavirus pandemic begins to subside. Remnant radio, print or TV is specifically reserved at the last minute and helps clients take advantage of last minute unused inventory in all broadcast dayparts. Buying remnant through an experienced agency that has the relationships and special access to this media is a great way to help millions of small, medium and large businesses will soon be seeking to recover from the devastating market effects of the COVID-19 virus epidemic of 2020.

243 million adults listen to radio each month in the US. This is a huge reachable audience. Remnant radio ads allow a business to experiment; thus saving money on launching a message, product, or service on the radio.

Radio ads stick with the consumer longer than online ads because radio listeners are focused on the broadcast, and a radio ad occupies 100% of the broadcast moment while it is being aired. That full indulgence is why people often find themselves singing a catchy advertiser’s jingle. That reflects the effective recall that radio advertising generates.

Remnant Agencies

Remnant pricing is offered to third-party agencies typically just a couple weeks before the planned air date. An outside ad agency, like Media Partners Worldwide, with both local and national reach, is preferred as these agencies are familiar with the requirements and the needed flexibility of remnant media planning. These agencies know when and how to negotiate for remnant wholesale advertising rates.

Media buying agencies use unique techniques to get low rate deals. As they don’t represent a single advertiser, they don’t pose a constant on-going reduced rate perceived threat of the same advertiser with the same local publisher, radio stations, TV stations or newspapers. It is far more likely a remnant focused agency will procure aggressive remnant advertising rates.

Remnant agencies benefit as they are paid an agency discount (or fee) by media outlets, which is separate from the ad rate. Ad production, script writing, strategy and media schedule planning is an art – and most agencies offer discounts to their paid advertisers for related production and creative services.

​During the 2020 COVID-19 coronavirus economic slowdown, agencies have been securing special radio, TV, print and online advertising bargains to help their clients persevere during this crisis, and maintain their fiscal health. The pandemic has starved businesses of cash flow. Their return to spending on advertising will be more voracious for local media buys at remnant rates. The huge advertising discounts that remnant advertising delivers is generally not offered direct to clients, because it would permanently drive down advertising rates to a level that could jeopardize the media channels’ very existence.

Messaging

Businesses determined to rebound and revive quickly need to get back in the advertising game fast, affordably to reconnect with both regular and prospective customers.

For a while, consumers will be drawn to messaging that reassures the business is sanitary, safe, healthy and alert. References to UV air sanitizers, ozone or ionization, standing hand sanitizer stations, will remain commonplace for quite some time.

Let’s Get Remnant Now

Remnant advertising can revive a business, along with our nation’s economy. Remnant is a way to pull back from the brink and survive what has been a difficult time.  Our agency is an active remnant agency and offers free consultation for anyone who is interested in becoming a remnant advertiser. Contact 562-439-3900 and ask for Natalie Hale if you want to know more about starting up a campaign this month using remnant advertising to advance your business’s come back toward profits and growth.

The post Remnant After COVID-19 appeared first on Media Partners Worldwide.

Covid 19 has quickly changed our lives and as we emerge and try to get back to normalcy, a lot of the adaptions forced on us will continue and be our new norm.

• Consumers will stick closer to home. Less foreign travel predicted, at least for the next year and more short trips to National parks, local casinos and short getaways with less noise and people will be preferred. The popularity of road trips and the sale and rentals of RVs will continue to trend up.

• Voice control technology use growing. Virtual assistants, like Amazon. Com and Alexa have a new draw, as voice control technology limits the need to touch a surface so much. In this case, safety has shifted to be more important than privacy.

• Online learning will increase. As younger generations worry about their future, e learning rises. This generation will work to increase their skills and becoming more competitive in the job market. In addition, there will be more parents opting for online schooling versus traditional classrooms. This is a huge opportunity for e-learning companies and new players in online courses.

• DIY gains ground. The new interest in baking, cooking, sewing, and painting are not expected to disappear with the virus. Plus, more people are opting to remodel and fix their own house. More consumers have gained confidence in learning from Utube videos, podcasts or TV shows and it has made people more self- reliant.

• More comfort in digital offerings. If consumers were not comfortable with ordering groceries digitally, they have had to embrace it, with more people buying most everything they need online. Online banking has increased and more doctors and medical providers are offering camera sessions for non emergency situations. A trend that is sure to continue.

• Flexible and modified work arrangements. With so many people getting used to the convenience of working from home, the shift to more flexible work arrangements will continue, as employers realize it’s not necessary to have everyone work full time in the office to get things done. Zoom Calls have replaced meetings and decisions are being made quicker with less bureaucracy. This new workplace means more time and money for many workers. Time

is saved not commuting and allows employees to save money on childcare, maintenance and fuel for vehicles, work clothes, dry cleaning, etc. Giving more time to cook meals and do it your self projects around the house.

What this means for your media buys is that more people will have more time in front of the TV watching their favorite shows and movies, more time in front of the computer engaging in social media, including Facebook, Linked in and Next Door or at home listening and steaming radio and podcasts.

The post Predicted Consumer Trends that Will Endure Through COVID19 appeared first on Media Partners Worldwide.