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This Week in Digital Advertising: May 29th

This Week in Digital Advertising: May 29th

An update on the state of the digital advertising industry.

First up

Congratulations to Star Bidtellectual Courtney Bonkowski, who handles her roles in the finance department AND human resource responsibilities with grace and leadership. Literally what would we do without her. Did we mention she’s ALSO new mom? Talk about #goals.

ALSO ICYMI, Bidtellectuals shared some awesome book recommendations last week. #QuarantineReads for the win. 

Coronavirus impact on higher education 

Coronavirus may have sent students home (to their laptops) early, but on the other side of this crisis is a chance for a reimagining of “traditional” education, including more technology and flexible learning options. The stats show that students are willing to move online and cost will be a major factor in returning to school. Advertisers should bring hope for the future, offer cost-saving options, and be a source of trusted information to guide students in these uncertain times. Over-communicate! Read our in-depth analysis here.

Even though digital advertising is an easy shutoff during a crisis, Adexchanger reported that digital advertising and ecommerce is primed to take a larger share of overall advertising in the long term. Wall Street is betting that in-store marketing and linear or pay TV ad budgets will shift online. 

“There’s this clear incremental push toward online channels,” said Pivotal Research analyst Michael Levine, “Consumer behavior patterns have changed, and it means the proposal for online advertising is much stronger.”

It could also be because consumers are having a much stronger emotional connection with brands during the Covid crisis, according to Mediapost, thanks to shifts in brand messaging. Don’t forget, Edelman reported that even at the end of March, 29% of Americans had already begun using a brand due to the innovative or compassionate way they’ve responded to the COVID-19 crisis.

Watch our video on how to adjust messaging to changes in higher education due to coronavirus.

The Social Media Trials: Twitter vs. Trump vs. Facebook

Whew. Have you followed this? After Twitter censored his tweet, President Donald Trump signed an executive order on Thursday that, if enacted, would challenge social media companies or other aggregation platforms that moderate or remove political content. The administration contends that major online platforms can’t “hand-pick” which comments or viewpoints are allowed. On Thursday, Facebook CEO Mark Zuckerberg drew a line between Facebook and Twitter, saying a platform company shouldn’t be the “arbiter of truth” in US news and politics. Twitter CEO Jack Dorsey says Twitter will continue to label incorrect and deceptive information about elections. Read more on Adexchanger.

The news this weekend

If the latest acts of injustice and subsequent protests in Minnesota are making your heart heavy – you’re not alone. We suggest reading this straightforward timeline of events by NPR to get caught up and recommend checking out the Minnesota Freedom Fund for the work they are doing. 

For some good news to make you smile, Tank’s Good News always features acts of kindness and stories worth sharing. One we’re smiling about? J.K. Rowling is writing a new book: the first two chapters are already online to read FOR FREE and she is inviting children around the world to illustrate it. 

Stay safe, stay happy, and stay healthy.

Charlotte 

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The Current State of Higher Education and Coronavirus

The Current State of Higher Education and Coronavirus

How has the coronavirus crisis has impacted education? What will students trend towards and how can colleges, universities, and alternate learning programs adjust their solutions and messaging? 

Current State of Education

Coronavirus may have sent students home early, but on the other side of this crisis is a chance for a reimagining of “traditional” education: skill-specific online courses, shorter degree timelines, and a more flexible approach to higher education, combining community college, online, and four-year institution education programs. Those with the greatest chance of weathering the storm will be those adopting flexible learning options, technology solutions, and – especially – online learning.

Here’s the current numbers

  • U.S. colleges are predicting $100 million losses for the spring along with millions in lost ticket sales as athletic seasons were cut short (AP News
  • A higher education trade group has predicted a 15% drop in enrollment nationwide, amounting to a $23 billion revenue loss. (New York Times)
  • SimpsonScarborough predicts a possible 20% decline in domestic undergraduate enrollment for 4-year institutions.

Technology Adjustment and Rise of Online Education

Colleges and universities have already recognized the importance of incorporating technology into learning programs. Even before COVID-19, there was already high growth and adoption in education technology, and this will only increase post-coronavirus crisis. And language apps, virtual tutoring, video conferencing tools, or online learning software, have seen a significant surge in usage since COVID-19 (WeForum).

  • Education providers will increase their tech budgets by 5.9%. Demand for education services is still strong, but disenchantment with the results of online education has introduced caution into tech investments. (Forrester)
  • Cengage has seen a 55% increase in the number of students who have signed up for free subscriptions to its online textbooks. (New York Times)
  • The New York Times predicts that faculty will permanently incorporate online tools (to which many are being exposed for the first time) into conventional classes.
  • The overall market for online education is projected to reach $350 Billion by 2025 (WeForum)

Online learning and community colleges will fare the best

Online Learning Institutions Can Teach Colleges Something

Online learning works well for developing specific skills and second careers/career pivots, but many institutions are still working out the kinks (to put it mildly). Among those that have mastered online learning are dedicated online institutions like Coursera and Udacity, who also partner with universities and companies. They tend to offer a mixed model of free and paid-for learning options of varying lengths. “Digital-skills jobs will be where there is greatest demand,” Mr. Maggioncalda said, “and those jobs will be less likely to be affected by pandemics in the future.” (New York Times)

  • Udacity courses take most students four to six months to complete, if they put in 10 hours a week. The average cost is $1,200. (New York Times)
  • Coursera collaborates with 200+ universities and companies, including Duke University and Google, according to their website
  • Before the pandemic hit, Coursera projected growth of 30% this year to more than $200 million. (New York Times)
  • Fewer than 10% of Coursera students pay for courses; they take them free.(New York Times)
  • 60% of students in Coursera degree programs try free courses first. (New York Times)

 

Students Are Willing to Move Online 

Those that do offer online courses are ahead of the game, offering cost-saving convenience and safety. Real online education lets students move at their own pace and includes such features as continual assessments so they can jump ahead as soon as they’ve mastered a skill, according to Eric Fredericksen, associate vice president for online learning at the University of Rochester. (New York Times)

  • About a third of surveyed students plan to enroll in an online college post-COVID (SimpsonScarborough)
  • 15% College students who, when given the option to finish their degree online or complete their degree in-person, want to finish online (SimpsonScarborough)
  • More than half of American adults who expect to need more education or training after this pandemic say they would do it online, according to a survey of 1,000 people (Strada Education Network)
  • Minorities are disproportionately affected by the financial impact of the coronavirus crisis: 41% (vs. 24%) of minority high school seniors won’t attend college in the fall and 18%  (vs. 13%) will finish college online (SimpsonScarborough)

Traditional Colleges Need to Improve Their Online Learning 

If traditional colleges plan to permanently adopt online learning, they have some learning to do themselves. Studies show that students aren’t as happy with the online experience – namely, that they don’t feel they are learning enough or that the quality matches the in-person learning experience. Still, online higher education “is a thin diet for the typical 18-year-old,” said Richard Garrett, the chief research officer at Eduventures. “But today’s 18-year-olds are tomorrow’s 28-year-olds with families and jobs, who then realize that online can be useful.” (New York Times)

Part of the issue is the time and resources it takes to build out a successful online course; COVID left many scrambling to catch up, exposing weaknesses.“Developing a genuine online course or program can consume as much as a year of faculty training and collaboration with instructional designers, and often requires student orientation and support and a complex technological infrastructure.”  (New York Times)

  • 75% of students said they don’t think they’re receiving a quality learning experience online (OneClass via New York Times
  • 67% of college and graduate students said they didn’t find online classes as effective as in-person ones (niche.com poll via New York Times, April)
  • A few top-tier universities, such as the University of Michigan and the Georgia Institute of Technology, already offer some full degree programs through online platforms. (New York Times)

 

Cost-Saving Community Colleges Will Grow (Even More) in Popularity 

There is already a growing trend of students starting college by way of a community college first to complete general requirements before transferring into a more rigorous four-year institution. It saves money and time.  For those financially strained after the crisis, the community college choice is a no-brainer, even for the remainder of school, as well. Administrators anticipate that students grappling with the financial and psychological impacts of the virus could choose to stay closer to home, go to less expensive schools, take a year off or not go to college at all. (New York Times)

  • 26% of college students said they were unlikely to return to their current college or university in the Fall.  (SimpsonScarborough)
  • 5% of high school seniors and 4% of current college students say they will enroll at a different institution (SimpsonScarborough)
  • Nearly half of surveyed students plan to attend a community college due to the crisis  (SimpsonScarborough)

Messaging Suggestions

We’ve said it before: build trust. Be present, offer solutions with prudence and sensitivity, and pay special attention to cost and technology capabilities.

  • Be mindful of cost: advertise low-cost and flexible learning options, as well as free trials.
  • Advertise the advanced nature of or improvement of your online learning program capabilities; many students are disillusioned with “Zoom learning”
  • Offer free or discounted learning tools such as online textbooks to help offset costs of learning further.
  • Be sensitive to the changes and mindful of coming off tone-deaf; offer hope and promise of a better future. 
  • Over-communicate: 69% of college students who say their institution’s COVID-19 communications are fair or poor have a worse opinion of the school than they did before the pandemic hit  (SimpsonScarborough)

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This Week in Digital Advertising: September 11th, 2020

Pharma and COVID. Google’s “apology.” CPG. Pro Spots. The latest digital advertising update: September 11th, 2020

The COVID-19 Impact on Health & Pharma and What It Means for Marketers

How COVID-19 impact pharma and healthcare ad spend, and the long term effects of the pandemic that pharma marketers will feel from now on.

This Week in Digital Advertising: September 4th, 2020

Labor Day. Agency shake up. Holiday 2020 best practices. eCommerce. The latest digital advertising update: September 4th, 2020

This Week in Digital Advertising: May 22nd

This Week in Digital Advertising: May 22nd

An update on the state of the digital advertising industry.

Happy Memorial Day Weekend! Thank you to all those who have served our country. We’ll keep this week’s update short and sweet. After all, you have an at-home barbecue to attend to! 

Speaking of, Bidtellectuals shared a Virtual Memorial Day Happy Hour yesterday afternoon and swapped recipes. Thanks to the finance team for hosting a great time! And if you want some cocktail recipe ideas, you can check out our blog post. 

Good news: online advertising expected to thrive post-crisis

Even though digital advertising is an easy shutoff during a crisis, Adexchanger reported that digital advertising and ecommerce is primed to take a larger share of overall advertising in the long term. Wall Street is betting that in-store marketing and linear or pay TV ad budgets will shift online. 

“There’s this clear incremental push toward online channels,” said Pivotal Research analyst Michael Levine, “Consumer behavior patterns have changed, and it means the proposal for online advertising is much stronger.”

It could also be because consumers are having a much stronger emotional connection with brands during the Covid crisis, according to Mediapost, thanks to shifts in brand messaging. Don’t forget, Edelman reported that even at the end of March, 29% of Americans had already begun using a brand due to the innovative or compassionate way they’ve responded to the COVID-19 crisis.

Here’s a reminder of what we are grateful for.

Unwind this weekend

Relax. If you can get outside – do it! Fresh air is restorative and feeds the soul. So does reading.  If you’re looking for a book to read, we compiled a list of quarantine reads recommended by Bidtellectuals. There’s a range of fiction, nonfiction, leadership, journalism – a little something for everybody. 

Stay safe, stay happy, and stay healthy. 

Charlotte 

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Bidtellectuals Share Their Favorite Quarantine Reads

Bidtellectuals Share Their Favorite Quarantine Reads

A good thing about self-isolating and quarantining is (assuming you are graced with good health) a chance to get lost in a new book – an activity our busy lives seldom leave time for. It’s a chance to learn something new, travel half way around the world from your couch, or gain empathy for an entire new way of life. In the words of Fran Lebowitz: “A book is not supposed to be a mirror. It’s supposed to be a door.”

I asked Bidtellectuals to share their favorite quarantine reads or books they’d recommend. Each is linked to the book or author’s website so you can find the easiest place to buy it. (Unless your local library has opened up – in which case, lucky you!)

Where the Crawdads Sing by Delia Owens

For years, rumors of the “Marsh Girl” have haunted Barkley Cove, a quiet town on the North Carolina coast. So in late 1969, when handsome Chase Andrews is found dead, the locals immediately suspect Kya Clark, the so-called Marsh Girl. But Kya is not what they say.

“It is a coming of age story with a murder twist that you will not see coming! I had to re-read the last few chapters because I was so surprised I could not believe what happened. I follow Reese’s Book Club on Instagram and have not been disappointed with her suggestions yet!”

Abigail Kozacek Bojanic, Account Manager – Central

The Devil in the White City by Erik Larson

Erik Larson—author of #1 bestseller In the Garden of Beasts—intertwines the true tale of the 1893 World’s Fair and the cunning serial killer who used the fair to lure his victims to their death. 

“I’m reading The Devil in the White City by Erik Larson, a non-fiction book told in a narrative style that delves into the history of Chicago in the late 19th century around the 1893 World’s Fair. This was an era when city architecture was really beginning to burgeon in the major US cities. The significance and hype of building + hosting the Fair event served as an impetus for numerous serial killings that would occur. What I’ve enjoyed is how the book fuses history, architecture, and murder mystery so well. I’ve learned a lot and am excited for the Hulu series to eventually come out starring Leonardo DiCaprio directed by Martin Scorsese!”

Nicholas Herbst, Platform Solutions Analyst

Three Women by Lisa Taddeo

Based on years of immersive reporting and told with astonishing frankness and immediacy, Three Women is both a feat of journalism and a triumph of storytelling, brimming with nuance and empathy. “A work of deep observation, long conversations, and a kind of journalistic alchemy” (Kate Tuttle, NPR), Three Women introduces us to three unforgettable women—and one remarkable writer—whose experiences remind us that we are not alone.

“A standout among the many nonfiction books I read. Follow along as three real women grapple with secrets and taboos. It’s raw and addicting. My jaw dropped many times.”

Carissa Parrish, Director of Sales, East

Unorthodox by Deborah Feldman

In this arresting memoir about growing up in—and ultimately escaping from—a strict Hasidic community, Deborah Feldman reveals what life is like trapped within a religious sect that values silence and suffering over individual freedoms.

“Fascinating, illuminating, inspiring… Even more so given I lived in Crown Heights, Brooklyn for a couple of years amongst a sect of the Hasidic community that I clearly knew so little about. The Netflix series inspired by this memoir is also amazing, although a completely different story in many ways (they made some key changes to make it more appealing for television). I recommend reading this then watching the series. You won’t be able to put it down. Deborah is inspiring.”

Charlotte Otremba, Sr. Manager Marketing and Communications

Eragon by Christopher Paolini 

Fifteen-year-old Eragon believes that he is merely a poor farm boy—until his destiny as a Dragon Rider is revealed. Gifted with only an ancient sword, a loyal dragon, and sage advice from an old storyteller, Eragon is soon swept into a dangerous tapestry of magic, glory, and power. Now his choices could save—or destroy—the Empire.

“I really like epic fantasy settings with engaging plot lines.”

Mitchell Enfield, UI/UX Developer

Finding Ultra by Rich Roll

On the night before he was to turn forty, Rich Roll experienced a chilling glimpse of his future. Nearly fifty pounds overweight and unable to climb the stairs without stopping, he could see where his current sedentary life was taking him—and he woke up. Finding Ultra is an incredible but true account of achieving one of the most awe-inspiring midlife physical transformations ever.

“Inspired me to get running!”

Michael Feeley, VP Supply Partnerships and Product Solutions

Atomic Habits by James Clear

This breakthrough book from James Clear is the most comprehensive guide on how to change your habits and get 1% better every day.

Jason Boshoff, COO

Trillion Dollar Coach by Eric Schmidt, Jonathan Rosenberg, Alan Eagle

The team behind How Google Works returns with management lessons from legendary coach and business executive, Bill Campbell, whose mentoring of some of our most successful modern entrepreneurs has helped create well over a trillion dollars in market value.

“One of the better books on leadership I have read. Summed up by the idea that positive human values generate positive business outcomes.”

Craig Aron, SVP, Growth and Strategic Business Development

Untamed by Glennon Doyle

In her most revealing and powerful memoir yet, the activist, speaker, bestselling author, and “patron saint of female empowerment” (People) explores the joy and peace we discover when we stop striving to meet others’ expectations and start trusting the voice deep within us. Untamed is about how to be brave: The braver we are, the luckier we get.

“This is the book I needed and the book we all need. Doyle’s writing cuts to the heart of matters and forces you to reevaluate the parts of your life you are living to please others at the sacrifice of your true self. And for what? I could neither put this down nor stop underlining passages – and will probably read it again. She wrote two memoirs before this about staying in her marriage, which she left once she instantly fell in love with soccer star/Olympic gold medalist Abby Wambach.”

Charlotte Otremba, Sr. Manager Marketing and Communications

The 5 Love Languages by Gary Chapman

In his #1 New York Times bestseller, The 5 Love Languages®, Dr. Gary Chapman presents a simple truth: relationships grow better when we understand each other. Everyone gives and receives love differently, but with a little insight into these differences, we can be confidently equipped to communicate love well.

Jason Boshoff, COO

Building a StoryBrand by Donald Miller

The book that makes marketing easy.

“The best and simplest approach I have learned to ensure your potential clients understand your value proposition.”

Michael Feeley, VP Supply Partnerships and Product Solutions

$2 a Day: Living on Almost Nothing in America by Kathryn J. Edin

After two decades of brilliant research on American poverty, Kathryn Edin noticed something she hadn’t seen since the mid-1990s — households surviving on virtually no income. Edin teamed with Luke Shaefer, an expert on calculating incomes of the poor, to discover that the number of American families living on $2.00 per person, per day, has skyrocketed to 1.5 million American households, including about 3 million children. 

“Some of the stories are unimaginable yet potentially timely in today’s uncertainty.”

Michael Feeley, VP Supply Partnerships and Product Solutions

I hope you found this recommendation list of quarantine reads helpful! Remember, there’s no quicker escape from life than opening a book. Enjoy. 

By the way – we’re adding new videos every week to our YouTube channel! Stay up-to-date with the latest industry trends. Watch here

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Subscribe to our monthly Bidtellectual newsletter!


 

This Week in Digital Advertising: September 11th, 2020

Pharma and COVID. Google’s “apology.” CPG. Pro Spots. The latest digital advertising update: September 11th, 2020

The COVID-19 Impact on Health & Pharma and What It Means for Marketers

How COVID-19 impact pharma and healthcare ad spend, and the long term effects of the pandemic that pharma marketers will feel from now on.

This Week in Digital Advertising: September 4th, 2020

Labor Day. Agency shake up. Holiday 2020 best practices. eCommerce. The latest digital advertising update: September 4th, 2020

This Week in Digital Advertising: May 15th

This Week in Digital Advertising: May 15th

An update on the state of the digital advertising industry.

Have you grown a beard this quarantine? You’re not alone! Beards are the Hottest New Quarantine Trend and WWD has dubbed “The Corona-Beard” “Men’s New Quarantine Hobby.” Even Joe Jonas was able to grow one! Bearded Bidtellectuals shared their expert tips here to keep your beard super suave – and prevent you from looking like Tom Hanks in Castaway. 

Congrats to Bidtellectual of the Week Rob Komjathy! Not only is he a star at Bidtellect, but he’s had to postpone his wedding due to the coronavirus and has handled it with grace. Send him some love!

How to lead through a crisis

Simple: communicate, communicate, communicate. Bidtellect CEO Lon Otremba contributed to Forbes on the topic of crisis and leadership, and it is well worth the read. Keep your team in-the-know about updates to your crisis plan and encourage everyone to set work/life boundaries and communicate those accordingly. 

The coronavirus’s impact on the financial vertical

Wondering how the coronavirus crisis has impacted the financial vertical? And how advertising efforts should continue and what we can learn from the ’08 crisis? We were, too. Basically, shift to mobile and build trust, but read more here and watch our latest Bidtellect Beat: Digital Edition video for more in-depth analysis.

WATCH Coronavirus & Finance: Predictions & How to Adjust

Where’s the ad money going?

Away from TV, according to Mediapost. Major TV station groups are witnessing sharp advertising declines of around 35% to 40% so far due to COVID-19, and the advertising drop is more severe and more rapid than the financial recession in 2008. Yikes. Meanwhile political ad spending predictions have just shot up, mostly due to cancellations in live event programming, causing a reallocation of budget. And eMarketer’s latest report still expects spend on mobile display advertising to rise to $61 billion in 2020, a 22.0% increase over 2019.

Ghosts and Drones! Ghosts and Drones!

In case you wanted something ELSE to keep you from sleeping tonight other than the general global doom and gloom, some people have (and want!) ghosts living with them! Read these reports of hauntings during the coronavirus – you’re welcome! Oh, and if you’re missing organized sports, professional drone-racing is gaining momentum. I was skeptical, but it actually sounds pretty cool. Each drone has 1,000 colorful LED lights, there’s music playing, and they can go from zero to 90 miles per hour in one second. Boom!

Stay safe everyone, 

Charlotte 

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