You may have seen several headlines popping up here and there that are talking about the increase in at-home media consumption in the midst of all the Coronavirus quarantine measures. More and more people are staying indoors all across the world, which means here will be many hours of time people most likely aren’t used to spending at home. A very popular solution is to turn online for a means of entertainment, relevant information, or ability to shop. Looking at this fact with an entrepreneurial mind is enough to begin brainstorming what kinds of digital marketing strategies and ways to cut cost during coronavirus to take advantage of the increased exposure, right? Not all signs point to yes.
Twitter especially has been seeing a huge boom of usage across the world, as much as 23% since the beginning of the years. Strangely enough, however, they have simultaneously experienced a drop in revenue of about 20%. This is due to the decrease in ad spending from businesses all over that are being negatively affected by the quarantine and social distancing. As they cut employees and other expenditures to make it through the lull in traffic or sales, ad spend is one of the top turned to investments to pull the plug on.
This is where we say to stop for a moment and consider one important thing. While a lot of costs that you can afford to cut had fed directly back to the business, like some areas of production or aesthetic contributions, there is something to say about costs that feed directly into investments for the business. In short, you want to think carefully about which investments you’re making that bring about a lot of new or return business, not just enhancing your brand experience alone. For example, if your restaurant cut back on some of its employees as well as menu items that were more costly to make, you would curb your spending, but to cut spending for search engine ads would cut the opportunity for a nearly infinite exposure to potential customers right along with it.
That is to say, consider this factor while you weigh your options! Social media outlets are seeing a 44% global increase of traffic, while 36% more people are spending more times on computers altogether. Some businesses aren’t going to have the ability to cut cost during coronavirus to reserve any funds for advertising of any kind on any scale, but if you do, we urge you to pick a level that works for you and maintain some sort of digital marketing strategy to help contribute to the health of your business. Pair this with any adjustments your business can make to provide its product or service online during the pandemic and your odds will be that much higher!
If you could use a helping hand during this time, give OCGnow a call at (904) 600-3600. Our job is to help you develop an astounding online presence that reaches your audience. We will discuss your options and help come up with the best solution that fits your situation, big or small.