During times like these it is easy to panic – and rightfully so. With the Coronavirus (COVID19) knocking at everyone’s doorstep it seems like this nightmare will never end and the reality is that it has only been a few short weeks that it has truly affected the United States. While the health of yourself and your business should be of your utmost concern, it is during these stressful times that you should look upstream and double down by putting more money into your marketing and advertising efforts. In short, spend more on marketing and advertising.
Coronavirus Has People Quarantined. Why Spend More On Advertising?
When looking at the situation as a whole you have to look beyond the daily panic and overall fear of the economy by simply looking at the facts. Work continues. People continue to shop as we are not yet at “martial law” status, although California has suggested that they might have to put their foot down. As a result, people are still buying and looking for ways to spend their money – now more than ever. The more bored that people get under the quarantines the more that people will be looking to find ways to entertain themselves in a way to attempt to meet their “needs”. As humans we always look at catastrophes and try to find the ways to get back to normal as quickly as possible – this Corona virus outbreak will be no different.
Pay Per Click Ads Are Cheaper Right Now
Just as the stock market is taking a hit so too are the cost of pay per click ads. Google Ads and Microsoft Ads (Bing) are down over 15% in the last week and that trend hasn’t yet slowed down. In other words, we haven’t seen the bottom of this barrel just yet. The reason however is clear. Competition has simply stopped spending money which opens the door for businesses who have kept cash on hand for situations such as these. These businesses are now in a position to take a chunk of any marketplace they choose to enter as so many other businesses are simply too cash strapped (read: unprepared).
Social Media Advertising Cost Is Trending Down
Social media is also significantly less expensive at the moment. We here at Spitfire Creative believe that this too is due to the fact that so many companies have pulled the plug on their marketing efforts. If you have been considering Facebook advertising or Instagram advertising and just haven’t pulled the trigger now would be the time to jump in with both feet.
Product Launches Are Still Happening
Apple has been the golden child of the tech industry for the better part of a decade now. When it comes to marketing and launching products they have a successful track record that is like none other. Just yesterday they launched not one, but two products with the new Apple iPad Pro as well as a new Apple Macbook Air. This is a sign of the world not slowing down. Even with the Coronavirus originating at the head of their supply chain in China, they are still able to produce their products that consumers are looking for.
The Coronavirus Outbreak Will End
Like all things that are good and bad at some point this too will come to an end. Obviously we don’t have a magic 8 ball that points to exactly when things will return to normal but rest assured we will eventually return to the middle as we always do. It is important to remember right now that while the situation is indeed stressful, now is the time to really get down in the dirt and move forward with your advertising campaigns.