The Covid-19 pandemic has had a massive impact on businesses globally, and the first thing all companies tend to do during uncertain economic times is to hold back their marketing budgets and campaigns.
As a result, this has hit the pay per click services (PPC) campaign as most companies are scaling back their PPC expenses. However, if most companies are doing so, this gives you all the more reason not to follow suit. This is because the average cost per clicks has dropped significantly across the boards, giving marketers free rein to continue their campaigns to obtain leads at a significantly lower cost than before.
Instead of pausing your PPC altogether, a better strategy for your business is to leverage the current market opportunities by tweaking your spending and getting more bang for your buck. Here are the ways in which you can adjust your PPC approach better to serve your target audience during these turbulent times:
Adjust your Ad Schedule
Most pay per click services have in-built analytics that helps you decipher the performance of ads. Make a note of the best performing times you tend to get most of your conversions. You can then decide to either exclude the low-performing days/times or reduce the bids so that you still have some visibility.
Refine your Messaging
The message of your PPC social ads and any other content throughout the pandemic must be sensitive and empathetic to strike a chord with your target audience. Create appealing ads such that it showcases the value of your offering given the circumstances your target audience is in with the prevailing situation. For instance, instead of direct selling, sweeten the deal and make your ads more effective. This will also give you a chance to revisit your brand’s value proposition.
Analyze your Keyword and Position Level Data
Make a comparison as to how much you have been paying for clicks vs. the market rates. Very often, the numbers Google tells that you need to pay for top ranking is steeply overestimated. Therefore, watch out for how much you are spending for each click and reduce them incrementally whilst staying within the top four ranks.
Adjust your Choice of Keywords Based on Performance
You can find quick-win opportunities by analyzing your target keywords – which are costing more to convert and which are less? Subsequently, you can use your available budget to invest in high-performing keywords costing less to deliver leads.
Increase Ad Spend if Competition is Dropping Below
If your competitors are decreasing their expenses, but you know you can still capitalize on any opportunities that arise, you should still go for it and leverage a relatively low-cost structure of cost per click now.
Instead of pausing your pay per click services, consider making some adjustments to reduce your overall expenditure in these trying times. The good news is that since people are increasingly spending time online now, there are greater chances for your business to leverage the benefits of a well-targeted PPC campaign and enjoy the relatively inexpensive cost per clicks structure before things return to normal again.
There are opportunities for growth as well as areas where you can reduce the potential wasted spend; you just need to allocate more time and effort to think up the right strategy.