To run ads, or not to run ads. That is the question.
Like most things, there isn’t really a straight answer. We’re going to take a deeper look into this Q, but first, shout out to our friends at Matchnode for the killer article on how COVID affects Facebook and Instagram advertising.
Ask yourself, can your brand offer relevant support for your target audience? If the answer is no, it’s best to lay low and focus on organic marketing. If the answer is yes, and you have the budget to do so, go for a higher reach.
Here’s what you might expect from FB and IG ads in the coming weeks.
- Lower CPMs + Increase screen time. Right now Facebook is experiencing a spike in usage. More folks on FB & IG with less active spending means a lower cost per thousand Impressions. Matchnode did an internal study showing a 16% decrease in CPM compared to the previous seven days.
- Impacts Vary by Industry. Many canceled events or closed brick and mortar locations rightfully have pause ads. But there are creative measures to consider when calling for crowds is a bad idea.
For example: a hometown bar might go live on social media with a mixology class. Doing this would add value by educating people without risk of breaking social distancing, plus when the doors open again, you’ll have a retargeting audience all built up.
- Adjusting your Product Catalog. Pay attention to what is and is not relevant within your product catalog and adjust messaging accordingly in Facebook Dynamic ads.
- Facebook’s SMB Grant. Facebook announced $100 million in support of 30,000 small- and medium-Sized Businesses via cash grants and ad credits. Take advantage of this!
Listen, folks, weigh your options. What works for another may not work for you. But the opportunity is there. Read the full article by Matchnode.