During the pandemic, it is clear that the world economy takes a hit. While many companies had already integrated an online presence into their business model, some manages to maintain their traditional way of doing business. However, the agility and speed with which companies will be able to change is going to be a determining factor as to which businesses will be able to withstand the aftermath of the pandemic and those which will not. It is becoming evident that many businesses will need to move from their conventional way of doing business if they wish to thrive in the post-pandemic economical ecosystem. Now that the world is slowly getting back to a new form of normal, PPC is making a comeback.
How is PPC making a comeback?
Businesses within the eCommerce industry will be able to make a quicker comeback since they already have the necessary tools integrated into their existing systems.
Although it seems that SMB’s suffer most, as some online shops are showing declining conversion rates with fewer clicks on Google Ads. It may that the time has arrived to make an investment in Advertising as Consumers are changing their purchasing patterns and are getting more accustomed to purchasing online. It is therefore probably, the right time to seek financial relief being provided by different private and government bodies. For example Google is now offering $340 Million in Ad credits to small and medium businesses to spend until the end of 2020. This is expected to help businesses recover from recent declines in sales and profits by providing the much-needed resources to do so. Judging from the initial spendings reports (e.g SocialBakers social media trends report), Ad Spend growth can already be seen with average spending on Social Ads increased by 33.2% in the first three weeks of April. This is an indication of the growing investment in Ads coming from online retailers looking to adopt and grow their business following the relative decline seen at the late part of March as is depicted in the graph below.
This year has been an extremely challenging year filled with so many unknowns and uncertainties. Yet, we are starting to see the proverbial light at the end of the tunnel with the commencement of the recovery process which will hopefully restore the world economy to a healthy state. This is the time when PPC can play a significant and influential role in getting online retailers exposed to their customers. They can now reach a new market, or their good loyal customers that are now looking for the brand online. Many of these customers have just discovered they don’t really need to drive to the store to review the brand selection. It is now your time to sell more online taking advantage of the change in consumer purchasing habits and see the benefits of the new situation making lemonade from the lemons.
PPCHero.com: PPC In The Time Of COVID-19: You Asked, We Answered
Leadfeeder.com: Your PPC Approach During Covid-19
Wordstream.com: New Data Reveals PPC Ad Campaigns Are Rebounding
Influencermarketinghub.com: CoronaVirus [COVID-19] Marketing & Ad Spend…
Click.co.uk: This Month In Paid Media (PPC) (April 2020)
Socialbakers.com: Social Media Trends Report