The Internet Is On Sale
While toilet paper, hand sanitizer and N95 masks are almost impossible to find and in some cases are selling for 10x their original price, there are other things that are plentiful and selling well below their normal price. Like gas, airline tickets, and ads on the internet. It all comes down to supply and demand.
You might have noticed, a lot more people are online right now. In fact, Facebook (which includes Instagram) says during Coronavirus times, usage is up by 70%. All these extra people scrolling through a lot more sites means there are a lot more opportunities to serve display ads in front of a massive audience.
At the same time, due to recent events, many businesses are cutting advertising because they have been forced to close up shop or are struggling with a sharp decline in business. This means less demand and a surplus of supply, which results in really low media costs. Ad impressions and clicks on Google and Facebook are at record lows.
The internet is on sale.
So does that mean your business should be taking advantage of these bargain basement prices? It depends. Low gas prices don’t really help you if you can’t go anywhere. If your business is totally shut down, now’s probably not the time to buy more ads no matter how cheap they are. But for some businesses, this may be a golden brand opportunity.
Who Benefits the Most From the Internet BeIng on Sale
Businesses that are looking for:
- Brand Awareness. If you’re expanding into new markets where no one has any idea who you are, now is the time to get your message out there. This is the best time to get the most eyeballs for a fraction of what you would have paid just a few months ago.
- A Larger Remarketing Audience. People that have previously been to your site are more likely to buy from you. And the best way to grab them is with remarketing (showing your ads to users who have been to your site). To build up that remarketing audience though, you have to drive them to your site in the first place. Now is the time to do this. Even if people are holding back on buying your products/services right at this moment, you can still build a healthy remarketing audience that you can target with relevant ads once the country, and your business, are healthy and back on track.
- More site traffic right now. Are you a business that offers a product or service people need during these unprecedented and trying times? For example, do you offer virtual meeting services? Make deliveries to homes and businesses? Offer online entertainment or streaming services? If so, you have double lucked out. More business and cheaper digital advertising.
While these are the main types of businesses that would benefit from taking advantage of the sale on digital advertising, there are others. Does yours? Contact us and we can discuss.