The coronavirus has brought about many changes in the market and the upheaval is expected to continue in the coming weeks and even after the crisis is over. With the uncertainty of the situation, many companies are reluctant to continue with their marketing strategy for fear of incurring too many losses. But, as Einstein said, “In the middle of difficulty lies opportunity.” There is indeed an opportunity to take advantage of the situation and bounce back quickly despite the crisis. Everything depends on adaptability and responsiveness, especially for your advertising campaigns. In this article, our web agency team explains why you should continue to invest in your advertising campaigns despite the coronavirus.
Coronavirus, an unprecedented crisis?
Admittedly, the crisis we are currently facing has reached an unprecedented scale. However, this is not the first time that an economic crisis has occurred (the subprime mortgage crisis of 2007 comes to mind), and we can learn much from past experiences. Whether it was in 1929 or in 2007, the crisis struck most of the world and companies were forced to react accordingly to avoid incurring excessive losses. These events had the advantage of showing us how to react (or not react) in emergency situations, whether by making mistakes or coming up with new marketing strategies.
The key to breaking the suspense is for companies to adapt to volatile demand and market conditions by continuing to work on their brand image and visibility.
Why continue to invest in advertising?
The crisis is clearly causing consumer behaviour and expectations to change. As a result, many companies have to adapt their strategy and reconsider the way they communicate to deal with the situation. And to the question “should I continue my advertising campaigns?”, the answer is yes. Many opportunities can indeed arise in times of crisis and knowing how to seize them is an advantage.
A potential decrease in competition
When a crisis occurs, many reactions can be observed. On the one hand, some companies will seek to bounce back immediately and offer content appropriate for the situation. On the other hand, some companies will focus on security and significantly reduce their business. The question isn’t which position is the best, but how this might present an opportunity.
This is because, as some companies decide to withdraw at least partially from the market, there will be a decrease in competition in the sector. This decrease in competition presents an opportunity to gain market share and improve your brand awareness. In fact, companies that experiment with this method usually experience better growth in terms of sales and net income during a recession and for a few years after the crisis.
Add to this the fact that the decrease in competition risks lowering prices, since the majority of advertising platforms are based on bids. This is therefore the best time for your company to acquire new customers at a lower cost, especially with a lower CPC.
The coronavirus crisis is generating more traffic…
The drop in business related to COVID-19 has resulted in consumers being directed to online commerce. Many opportunities have emerged in the digital world. Certainly, some sectors will be less involved than others, such as the tourism or sports industry, but solutions can be implemented. Since consumers no longer have access to the usual shops, their online presence is much more important. This is why many buy-local initiatives have emerged on social media, such as the Panier Bleu project announced by the government during the month of April 2020.
Working remotely or spending more time at home is an opportunity for users to be exposed to more advertising. In fact, there has been a sharp increase in online traffic since the beginning of the pandemic. Particular attention is being paid to digital news and online shopping. This is a good opportunity for companies to increase their visibility.
…and a potential increase in demand
As online traffic increases, it makes sense that demand also grows for certain industries, such as handmade or high-tech products. And even if the trend doesn’t look good for your business, you can reverse the trend or at least reduce audience losses by maintaining your presence and adapting your marketing. Advertising is naturally part of this approach. The increase in traffic also comes with a stronger tendency towards conversion from users.
Continuing along this path will prepare you for the post-crisis period
Given the current situation, strengthening your customer relationships is more important than ever, not only to absorb potential losses, but also to recover faster once the crisis is over. For one thing, during this period of uncertainty and concern, it is important to reassure your audience and show that you remain available to your consumers, which is why maintaining effective advertising campaigns is so important. Continuing your business and adapting your ads not only allows you to minimize the immediate impact of the crisis, but also to prepare for the future.
How to adapt your ads to the crisis
As we have seen, maintaining a good online presence in the face of COVID-19 is essential. However, it may not be obvious how to do this and how to find the right messaging, while remaining consistent with your brand identity.
Create and plan your ads according to current events
If your business allows you to bounce back and offer online services, this is the best time to invest and maximize your budget. In addition, some algorithms, such as Facebook’s, don’t usually appreciate abruptly stopping campaigns, so think about adapting your messages rather than halting everything. For example, consider reviewing your scheduled ads in advance and modifying them to fit the situation if necessary. Furthermore, as this crisis creates a lot of uncertainty, try not to get too far ahead in your scheduling and instead try to create your content on a daily basis or for a few days at a time. This will help you avoid spending too much time changing your texts and adapting to new developments.
Promote your offer online
In this period of crisis and containment, it is clear that consumer consumption patterns will have to change, often to the benefit of e-commerce. A large number of users are turning to online shopping. So don’t hesitate to offer online content for your subscribers, if you have the opportunity. For example, many restaurants have developed a delivery system to maintain their business and Montreal libraries now offer their books in digital format. Feel free to be creative and offer new and original content to your audience.
In short, even if the situation is difficult for everyone, it won’t last forever, so you need to think about how to adapt your strategy. You might think that the crisis is a bad time for advertising, yet this is an opportunity for many companies to make the most of it. Remember that the most important thing right now is to show support and sympathy. Adapt your communication, show your audience that you are available through your campaigns. And above all, take care of yourself!
If you have any questions about this topic or if you need help developing your online visibility, simply contact us!