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With this sudden and completely unexpected loss of revenue due to the COVID-19 pandemic, conversations in business have quickly turned to, how can we drastically reduce our budget, while maximizing efficiency? How is this going to affect our digital marketing efforts?
As we weather the COVID-19 pandemic, as many can expect, search demand is steadily decreasing. Companies whose product or service is not deemed as essential will have to strongly consider altering or decreasing how much they spend. Companies that do not alter this could wind up losing a lot of money in the long-run instead of gaining during this time.
One thing to keep in mind is that bids in many different industries are lower than anywhere in recent history. This is probably because most advertisers are bidding less than they normally would, plus cutting down their budgets. If your company is currently selling a product or service that is still in high demand because of its essential need status, you may want to consider your approach and if it would benefit you to increase your total spending budget.
Email is free and also effective. For many industries, effective messages can be as simple as reminding the consumer that their needs can still be met online, despite the fact that brick and mortar businesses are currently closed.
Be kind & thoughtful, though. Now is not the time to hard sell or promote special COVID-19 “deals.”
Although email cannot completely make up for the recent performance loss, it may pay dividends down the road. The goal is to show your clients/customers that your product/service is valuable and needed at this uncertain time, and again in times of certainty.
Unlike with paid search, the benefits of SEO efforts and content campaigns will still continue to improve while we face this pandemic together.
Web traffic for many companies is down, but many of the search rankings are holding. What is dropping are the impressions. This shows that ranking is not where people are struggling, but instead, it is a drop in the demand of consumers who are now staying home far more than before.
If you are thinking about cutting back on your budget during the COVID-19 crisis, you should aim for somewhere other than your SEO or content marketing campaigns. This can damage your current rankings and undo many of the gains you made prior to the pandemic. It is important that you continue your SEO efforts, as many people and businesses will likely see gains in the near future.
In a time of uncertainty, your business must prioritize the safety and well-being of its employees, and consumers. This is a time to be thoughtful, purposeful, and aware. Consumers, and your employees will remember your thoughtfulness and concern during their time of uncertainty, and that will help your business to rebound quickly, when the pandemic retreats. Until then, double down on lean effectiveness, and be critical of your digital marketing efforts.
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