Take advantage of low online ad prices now
Due to the spread of Covid-19, people are stuck inside spending more time online and scrolling through social media than ever before. This sounds like a digital marketing dream, yet companies have been pulling back their ad spend on platforms such as Google, Facebook, and Twitter.
Why?
With an increasingly uncertain outlook for the future, companies are cutting costs by slashing their marketing budgets. Most major companies, like those in the travel industry, have little to no reason to pay to promote their products or services during these times, so they are choosing to reallocate their marketing funds.
Since companies are decreasing their spending by pausing their online marketing efforts, prices for digital ads are down. This means that digital ads are cheaper now than they ever have been before.
Google, Facebook, and other major digital channels have hundreds of open ad spots that need to be filled. With so many companies cutting their internet advertising, these digital marketing channels are forced to cut their ad costs in order to fill as many spots as possible, even though web traffic has soared.
Now more than ever your audience is looking for you to keep them feeling connected, updated, entertained, and intrigued. Now is the time to spend money on digital advertising.
With the drop in online ad prices, the increase in web traffic, and digital marketing channels scrambling to fill ad spots, your potential reach through Facebook Advertising and Google Ads has never been bigger for a fraction of the cost.
If you still don’t believe us, check out the data we compiled from one of our client’s online marketing efforts.
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Another result of the drop in ad prices is the decrease in cost per click (CPC). CPC refers to the actual price you pay for each click in your marketing campaign. Your CPC is what you are paying for each visit or interaction with your company’s products or services.
With every campaign, no matter the budget, the lower your CPC the better your return on investment and there is no better time to obtain a low CPC than now.
If you are still unsure about purchasing digital ads to sell products or increase revenue during Coronavirus, let us break it down another way.
Stay-at-home orders will not last forever. Rather than working on the hard sell right now through digital advertising, think about the effect that your digital ads now will have when Coronavirus is over.
Social media marketing, email marketing, and digital marketing are pertinent to increasing awareness and creating and establishing relationships with current and potential customers.
Maybe someone is more inclined to follow you or learn more about you during Coronavirus. Then when this is all over they decide that they want to support you and become a loyal customer. Now is the time to invest in those opportunities, gaining awareness, and building a loyal following that will one day turn into loyal customers.
Just because there is a drop in ad costs right now, does not mean that you can just throw the bare minimum out there. When creating your ads, think about how your potential customers have changed by living through a pandemic.
Cheaper ad costs do not mean that you can get by on cheaper ads. Find the right advertising channel, be spot on with your targeting, and create ads and content that will resonate with potential customers during and after this pandemic.
Your marketing goals will need to shift. We’re not saying that cheaper online ads make for easier work. We are saying that now more than ever it’s easier to reach a lot more people for a fraction of the cost and we want you to take advantage of it.
If you are thinking about taking advantage of the lower prices of online ads, give us a call and we can help guide you through the process. Let us help you reach more people than ever before and turn those ad views into long-lasting customers.
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