In the wake of the month-long Facebook boycott ending, performance marketing agency Tinuiti detailed how clients spent the money that they would have spent on Facebook.
While only 26% of Tinuiti's clients paused their Facebook ad spend in July, 40% of those advertisers spent the money on paid search like Google, while 24% put it on other social platforms like Pinterest and Snap. Another 36% of advertisers did not reallocate their ad budgets. Of the advertisers that paused their Facebook spending in July, 76% reactivated it in August while 24% stayed off the platform.Publicis Sapient, the consulting division within ad holding company giant Publicis Groupe, said that it would cancel all raises and promotions for the rest of 2020, according to a memo obtained by Patrick Coffee.
The memo cited challenges tied to the pandemic. Sapient's second-quarter revenue dipped 13% year-over-year. "This was not an easy decision to make," wrote Kameshwari Rao, interim chief talent officer, in the memo. "Our teams have been doing great work during difficult circumstances and although our business beat the reduced forecasts we made earlier in the pandemic, growth declined in Q2. Further, we know that COVID's economic impact will be felt the rest of this year and beyond.
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