This article poses some interesting thoughts. It is quite long, but I think worth a read if you are interested in this [0].
I think a way to frame the question is: "Will the coming decline in ad-spend result in proportional decrease in sales (while factoring in crisis driven declines)"
I suspect that this forced experiment will result in identifying that 20% of ad-spenders were getting 80% of the value, while the rest were either not technically capable or just trying to keep up with trends, thus bidding up the ad prices. The result being huge profit for Google/Facebook as the market maker.
I think a way to frame the question is: "Will the coming decline in ad-spend result in proportional decrease in sales (while factoring in crisis driven declines)"
I suspect that this forced experiment will result in identifying that 20% of ad-spenders were getting 80% of the value, while the rest were either not technically capable or just trying to keep up with trends, thus bidding up the ad prices. The result being huge profit for Google/Facebook as the market maker.
[0] https://thecorrespondent.com/100/the-new-dot-com-bubble-is-h...