Amidst the COVID-19 pandemic, business owners are facing uncharted territory. How do businesses maintain stability while reducing overhead?
The first instinct might be to stop all marketing while the public is quarantined, but recent information has shown that now, more than ever, is the time to reach audiences online. As most businesses have transitioned to working remotely, users are spending more time online. The New York Times has reported that traffic from Facebook to other websites increased more than 50% last week compared to the week before. While Facebook is surging, some industries which are running Google Ads are taking a bit of a downward turn with Google search ad impressions decreasing 7% below average, and conversion rates dropping an average of 21%.
Facebook advertisers are seeing new or increased users being driven to advertisers’ sites and becoming new customers. According to WordStream, Google Ads may be seeing a drop in performance, but some businesses are thriving by seeing an uptick in their ad conversions. Industries such as nonprofits and charities, health and medical, business management, finance, beauty and personal care, real estate, home improvement, automotive, retail, and legal services see higher conversion rates at a lower cost. While these are developing statistics, they are in no way an end-all. We recommend that each client relies on their marketing teams to review their analytics, notice the shifts, and make educated decisions about how their ad spend should be allocated.
What does this mean for businesses utilizing paid ads? Companies by no means should stop their pay-per-click (PPC) strategy during this time, but instead should pivot their tactics to best suit their industry. Currently, Facebook is where an influx of potential customers are flocking, so follow their lead and advertise on the platform to maximize your ad spend. If your business is one of the industries above that is thriving on Google and you are not participating, focus on this investment and couple it with remarketing to captive audiences on Facebook. Rizco is here to support your business’s marketing efforts. We are happy to further discuss your paid ads strategy during this time of uncertainty. To learn more, please reach out to Rizco’s Director of Digital Strategy, Jennifer Barker, at email@example.com.