Should You Reduce Ad Budgets Amid COVID-19? It’s Complicated.
As the international economy grinds to a halt amid the ongoing COVID-19 outbreak, businesses are looking for ways to weather the storm. For some, that means cutting staff; for others, reducing digital marketing budgets. What’s clear is that there is no one-size-fits-all solution to these unprecedented challenges: different industries are affected in different ways; reducing Google Ads spend might help some businesses survive, but could hurt others.
Regardless of your industry, the time has come for a more hands-on approach to managing paid search and social campaigns. Companies that have seen a drastic drop in search demand are justified in reducing budgets. But for businesses that have been less acutely affected, knee-jerk budget cuts could be a missed opportunity. Cost-per-click (CPC) and cost-per-thousand-impressions (CPM) are falling in many sectors, meaning this could be an ideal moment to invest.
If raising, or even maintaining, your paid search and social budgets is out of the question, consider alternative forms of outreach. Email marketing is affordable, personal, and versatile. Leverage your client email list to offer special discounts, explain how your business is handling the coronavirus crisis, or offer support and encouragement in this time of need.
This global pause may also be an appropriate time to make up ground in search rankings. SEO Is a full-time battle: Google’s algorithm works, even as the world takes shelter. By continuing to build content and optimize your website, you can ensure that customers will be able to find you when the crisis begins to fade.
As a Google Premier Partner digital marketing agency with valuable access to Google’s preferred practices, GrowthEngine Media is equipped and prepared to address your online marketing needs, even during this unprecedented health emergency. Times are tough, but we will get through this together and be prepared to flourish when normalcy returns. In the meantime, wash your hands as often as possible and continue to practice physical distancing!
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