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Firms 'can leverage higher media consumption to engage with customers'

May 15
Tags: Ernst & Young LLP
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Firms 'can leverage higher media consumption to engage with...

One of the repercussions of the current coronavirus pandemic in the UK is a significant increase in media consumption and traffic - a trend that businesses can turn to their advantage if they have the right strategy, EY has said.

The firm this week published the results of a survey of 2,000 consumers, showing that exactly half of households are looking for more news now than before the crisis.

Nearly four out of ten (39%) said they were using social media more than usual to get updates on the current situation and to stay in touch with friends and family. This led EY to note that media consumption and traffic is "clearly on a high".

Praveen Shankar, the professional services group's head of technology, media and telecommunications for the UK and Ireland, said companies should already be thinking about how they can harness this increased potential to engage with customers once the pandemic begins to ease.

"There is a significant opportunity for media companies to invest now to ensure they remain at the heart of the household," he said.

"For several years, the use of technology has been a hot topic in newsrooms, but these technologies are now coming of age. For example, in a world of fake news, a simple blockchain solution for validating sources can provide credibility and cement trust."

The research also highlighted some of the challenges facing businesses where PR and communications are concerned, with young consumers becoming more discerning and sceptical about the content they see across all media channels.

Around one in six respondents (17%) aged 18 to 24 said they trust online news sources less today than before the Covid-19 health crisis.

Two-thirds of all consumers felt social media platforms can do more to identify and take action against sources of fake news.

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