Pandemic Induced Digital Advertising Trends
Aug 26 2020
COVID-19 has been a challenge to all industries, including digital advertising. Although total ad spending has declined across the board, digital is projected to remain steady or grow slightly.
Social listening has been growing throughout the pandemic. With people at home, marketers are leveraging the information they find on social media to understand and gauge consumer sentiment. They can join the conversation while gaining insight to inform digital marketing strategies. Some of the patterns that have emerged have the potential to last beyond the pandemic.
Skyrocketing Paid Search Conversion Rates
The way people use the internet has changed since COVID-19, with consumers increasing media consumption, doing more research online, and enjoying more online shopping. In an exciting move, Google has made product listings more affordable to help businesses easily connect with consumers. Paid search is an effective way to reach consumers when they’re ready to start shopping.
Throughout the ongoing social and economic changes, digital advertisers have been relying on data more to identify new ways to grow. Additionally, they’ve been using paid search to tend to the upper-funnel when product demand drops, which provides an effective way to engage with consumers now with the intention of refocusing on purchasing later.
Video Streaming Audiences Are Growing
Streaming video has been growing exponentially. Experts project that it will make up more than 80 percent of consumer’s internet traffic by 2022, a fifteen-fold increase from 2017. Connected televisions and social platforms give consumers the ability to watch their favorite shows and movies, stream social content and learn more about products and on their preferred platform or device.
In turn, advertisers have access to streaming data that helps with better audience targeting in addition to the ability to reach homebound audiences. To maximize effectiveness, target shows and content that your audience is most likely to consume and tailor the ad to the viewing environment (connected TV vs. mobile device, for example).
Increased SMB Traffic
The pandemic has forced the temporary and permanent closure of small and medium-sized businesses (SMB) across the country, so many have turned to ecommerce as a strategy to remain competitive. For some SMBs, hosting live events on Facebook and Instagram has provided a lifeline. Gyms, personal trainers, musicians and even zoos are leveraging the power of live video on social media. Likewise, SMBs are using social to make important announcements, including changing hours of business, mask requirements and information about what the business is doing to keep their consumers and employees safe.
While SMBs are using Instagram and Facebook, traffic is up particularly on Snapchat. Snap reported significant gains in ad revenue during COVID-19 as many SMBs turn to it to reach millennial and Gen Z consumers.
Record Facebook Usage
Since March, Facebook has reported record usage. The platform remains one of the most popular, giving advertisers access to a nearly captive audience.
With this comes more ad inventory at lower costs, enabling marketers to reach a broader audience with a smaller budget. That creates an ideal scenario for companies to leverage the high platform usage to reinforce brand identity while sharing important messages consumers are looking seeking.
It also helps to understand consumer behaviors and tailor your message accordingly. Many Facebook users rely on the information they get on the platform to make key decisions about everything from the takeout to the new brands they’re willing to try.