Two weeks ago, we noted that there is an opportunity to strengthen your Facebook advertising amid the Coronavirus, and as you can see from the charts below, these trends are continuing.
We believe the unique mix of societal factors affected by the Coronavirus presents a strong opportunity to grow, even in this challenging market.
We live in unprecedented times. Layoffs have begun, unemployment is hitting record levels, and we are unsure of when we will begin to live life a little normally again.
That said, this can also be a time to push the pedal harder, to lean into this discomfort, and to find successes so that we all may emerge stronger on the other side.
Facebook Ads Performance: CPMs
Facebook Ads Performance: Cost Per Purchase (CPPs)
Consumer Behaviors are Changing
Facebook has reported record usage across its apps, which means that they are not only seeing more time spent from users, but also new or different users. People who don’t regularly use these platforms are turning to them for updates and social connections.
At Primer, we’re seeing this play out in increased engagement — link clicks and comments are increasing.
Facebook Ads Engagement: Link Clicks
Facebook Ads Engagement: Comments
As many marketers are pulling out, you may find that you have less competition and a more engaged audience. If you’re in a position to double down, we believe this is a time to do it.
Here are three things you can do right now to help your growth marketing:
1. Add new messaging to reflect your customers’ lives right now. Two weeks ago, this meant acknowledging that people were working from home. Now that we’re deeply entrenched in this, and federal guidelines are advising social distancing for at least another month, this is our new normal. Your ad copy should reflect this change now. Have empathy with their current situation and offer your product as an escape, a way back to normalcy, or a solution. Here are some lines we’re seeing work well:
- “We’re here for you.”
- “It feels like there’s so much you can’t control, but for the things you can, we’re here.”
- “Safely delivered to you.”
- “Wherever you are, that’s OK. We are here when you need us.”
2. Increase budgets on your top performers. As you can see by the CPM chart above, CPMs are at historic lows. This is a great time to push budget to those top performers. Resist the urge to scale back spend, and take advantage of these low costs.
3. Continue testing non-Coronavirus-related campaigns. We do recommend looking through your campaigns with a fresh eye to ensure nothing suddenly feels tone deaf to the situation, however, we also believe that this is an important time to stick to your ad testing schedule. If you were planning to launch new tests in the coming weeks, proceed! You can learn and gain insights at a discount.
How can we help?
We’re here to help you navigate this constantly changing environment. If you have any questions about how to manage your media spend right now, Primer is offering complimentary growth advice during this crisis. Reach out to Primer’s CEO, Kamo Asatryan, to talk more: firstname.lastname@example.org