Adjusting Paid Campaigns During the Pandemic Recession
March 2020 was the month which marked the beginning of probably the most dramatic disaster that hit the human race. The COVID – 18 shook every industry like never before. Industries like travel and tourism, restaurants etc failed to function terribly since then. Everything had to be reworked because functioning during a pandemic was the last thing anyone would have ever thought off. This period of recession needs extra care. Here is something you need to know about PPC Advertising if you are planning for a digital shift and restructuring of digital strategies for your brand.
Focus on Sales Volume
If your prior target is to increase sales, then you should study a little deeper. You need to get details of Social Media Marketing campaigns that were successful for the past two months because they are new normal now. What you need to do is account for your cost per conversion and return on ad spend (ROAS) levels, and compare how much money you’re going to need to spend to achieve those targets.
Finding answers to the below questions are sure to help- Have you seen website traffic bounce back a bit since May, but no sales or conversions?
- Have these things increased in certain channels but not in others?
- How has your ad spent volume correlated with these shifts in conversions?
- Have you seen increases in cost per conversion levels that look more stable now?
- How do all of these things compare year over year?
Focus Profitability
Sometimes, profitability is the priority and we understand. But what we can still start with is the same study of trends during the past months since the pandemic hit us. And then, taking into account seasonality, predict your campaign budgets by month or by week given your desired ROAS or ROI levels. Instead of adjusting your budgets up to hit a wanted sales volume start, you will find out with this exercise that the budget you predicted is lower than the originally anticipated coming into 2020. In this way, you need to terminate the non-profitable campaign. You must be reinvesting them on potential campaigns instead.
Well, this is a time of uncertainty and all you need is to try harder every time on forecasting the budget. Because that is the only way in which PPC advertising, social media marketing and Search Engine Marketing are going to work. Remember every business is going through the same and you are not alone in this amidst the pandemic.
