The ad business faces a crisis: How do you sell in such a strange time? You probably won’t be shacking up in a hotel anytime soon. But that hasn’t stopped Hotels.com from churning out ads that feature its nautical pitchman washing his hands and urging customers to socially distance. Why? According to one theory, the companies that advertise the most during an economic downturn do the best when the job market bounces back. Right now, there’s a $10B+ hole in the television ad market. Big spenders like Airbnb are halting their marketing, and the cost of digital ads has dropped by at least ⅓ . Those companies still tossing their products into the ring are facing an impossible question: How do you advertise when customers are so unlikely to buy?
