Euro 2020 kicks off a colossal surge in advertising spend

In the wake of the pandemic, TV advertising spend had dropped by a staggering 40% - the steepest decline in its history. This of course comes as no surprise as even the largest global companies slashed their marketing budgets in preparation for the COVID-19 inflicted drops in turnover.

However, with a return to normality in sight and a summer of international sporting events such as the Tokyo Olympics, British and Irish Lions Rugby Tour and currently Euro 2020 (now being played in 2021), advertising spend is set to bounce back to pre COVID levels with a whopping £1billion being spent on TV advertising this quarter.

Household names such as Paddy Power, Coca-Cola, Deliveroo, Just Eat, Snickers, Heineken, Adidas and many more, have invested heavily in advertising space during this year’s Euros and are expected to reap the rewards through a substantial return on investment. And it’s easy to understand why, when you look at gigantic viewing figures of the tournament. England’s Euros match against Germany attracted 20.6 million viewers and the final of the previous tournament a huge 44 million viewers!

Now whilst many businesses’ marketing budgets can not extend to cover the cost of such an overt above-the-line advertising strategy, there are many other cost-effective marketing avenues that you should be exploring to generate awareness, increase website traffic and drive Sales.

Any marketing strategy should be a meticulously thought out process ensuring:

• Your target audience is clearly defined
• Advertising space is strategically selected
• Your creative is impactful and engaging

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