- Advertising on Google and Facebook have become less expensive
- Engage and sustain people if the product is in digital hygiene, digital learning, media, etc.
- This lockdown situation provides brands a great opportunity to engage customers and increase their brand awareness
The total spending of the USA was estimated to be $18 billion+ last year, due to the festivals celebrated this time. There was a lot of shopping of discretionary items including food, gifts, hand made products, etc. With the rising demand for online shopping, companies with digital presence are keen on planning for surge in marketing spends in this festive time.
With the increased online shoppers there be a 10% rise in mobile payments’ year-on-year. But due to the lockdown normal working process of a lot of industries have been disrupted including retails, travel and tourism, etc. Due to the concern of uncertainty in economic outlook people has started post ponding discretionary spends. It can also be seen that the advertising on Google and Facebook have become less expensive meaning there are very few advertisers.
Compared to February 2020 there is a fall in CPMs for Facebook by 15% in this month. It should be considered as the best time to engage with current and prospective customers, considering solving their issues as marketing strategy and conducting effective communication digitally. Help customers to be engaged and sustain in this situation through digital hygiene, digital learning, media, etc. if product is in this area. Social media is a biggest platform for the promotion of health and hygiene and adding brand value.
Brands should come up with low cost media for current and prospective customers to tide over Covid-19 crisis. This situation had given the brand an opportunity to gain customers as the number of subscriptions and usage of this platform has increased. There is rapid growth in digital players who are spending more time indoors. Marketing and advertising help companies with digital presence to acquire more leads without mass media outreach. Some examples of these are the usage of Social Media, Google AdWords, etc.
The cost of acquisition for most of the companies dropped down drastically with a fewer number of advertisers hawking their products. There is also an increase in the user base to over hundreds of million users globally, by leveraging the power of digital marketing. But digital companies have to get the knowledge of local government laws to go global which seems to be difficult. And the other issue is that digital payment by the users must fit the local behaviour.
