Affecting nearly all industries, the coronavirus pandemic has also had a major impact on the marketing industry as well as on global advertising. In attempts to contain the spread of the virus, countries started to implement measures such as social distancing, work from home, or total lockdowns. This led to a significant change in how or when consumers are exposed to advertising and therefore to reduced media spending. All regions worldwide saw a decrease in media budgets in 2020. And even later.
How are things by 2024? How has the advertising market changed, and has it managed to fully recover? Let’s talk about this with advertising and marketing expert Mohammad Abbasi.
Mohammad Abbasi is an experienced specialist in marketing, advertising and management, of Iranian origin, educated in Ukraine. In 2014, he worked at Azot Technologies, where his responsibilities included: development of advertising campaigns for projects; search and placement of advertising platforms; organization and calculation of financial costs for advertising; signing contracts with contractors; control and support of advertising campaigns; analysis and evaluation of advertising effectiveness.
In 2015 and later, Mohammad actively participated in the implementation and development of the Shangrila online casino, which successfully operates on continents such as Asia, Africa, South and Central America. Soon he became the head of the advertising and marketing department. In the period from 2015 to 2018, he worked in this position, where his duties included: search and signing of contracts with new clients; development and implementation of turnkey advertising strategies for each client; monitoring the fulfillment of financial obligations under contracts; support and development of projects in the former CIS countries.
So, by now, do you think the advertising market has survived the effects of the covid pandemic? Or are the effects of the global recession still taking their toll?
The advertising market has recovered significantly after the COVID-19 pandemic, especially due to the strengthening of digital platforms. Global advertising spending is expected to grow by 5.0% in 2024, reaching $754.4 billion, with digital advertising becoming the main engine of growth, accounting for 59.6% of total spending.
However, the effects of the global recession are still being felt, especially among small businesses and in traditional media. Companies continue to take a cautious approach to allocating their advertising budgets, striving for maximum investment efficiency.
And what are the distinctive features of advertising in the post-covid era
In the post-pandemic era, advertising is characterized by the following features. Digitalization: Online advertising, social media and e-commerce have become the dominant channels, providing wider reach and interaction with the audience. Personalization: The use of data and artificial intelligence allows you to create more personalized and relevant advertising messages, increasing their effectiveness. Authenticity and sustainability: Consumers value the authenticity and social responsibility of brands, which is reflected in advertising campaigns emphasizing health, safety and sustainable development.
What do you think are the specific features of the advertising and marketing in the United States compared to others in which you have worked? Do these features complicate the work, or vice versa, simplify it?
The US advertising market is characterized by its scale and diversity, requiring the adaptation of messages for different demographic groups. The high level of competition and the focus on technology and data complicate the work, but also provide access to advanced tools and clear regulatory standards, contributing to more effective planning and implementation of advertising strategies.
Tell us, how is the mentoring and knowledge transfer process organized in the field of advertising and marketing? And how do advertising specialists take care to nurture the younger generation without creating additional competition for themselves with their own hands?
The process of mentoring and knowledge transfer in the field of advertising and marketing usually involves a combination of practical training and formal training. Junior specialists work under the guidance of experienced colleagues, participate in seminars and study real cases. Mentors are usually focused on the success of the team and the industry as a whole, realizing that the development of new talents contributes to innovation and maintaining competitiveness, creating a mutually beneficial environment for all participants in the process.
