How to Implement Consent Mode v2 and Not Die Trying
The European digital market regulation legislation came into effect this month, triggering a domino effect that has impacted both national regulations and the way large
The COVID-19 pandemic will last several months, perhaps years. All economic sectors, including digital marketing, will have to reinvent themselves to adapt to the new needs of customers and society as a whole.
Many companies are reevaluating their digital marketing strategy and budgets in light of the uncertain economic situation. Brands whose financial situation can afford it may seize the situation to devise new strategies and future plans, and maintain or increase their digital marketing budgets at a time when this seems to be the best channel to continue reaching their customers, whether in B2C or in B2B.
We want to share some digital marketing strategies that can help us navigate these uncharted waters.
Practically all of us are nestled in our homes, and nobody knows for sure for how long. Although consumers are spending more and more time online (web usage increased by 19.7% between January and March), the way we use the internet is changing.
Regarding online shopping, Google reports that users spend a lot of time browsing, but in general, perform many fewer conversions: travels have been especially affected. Searches for underwear and pajamas, on the other hand, are increasing, and home games and entertainment are skyrocketing.
Marketing specialists must be aware that Google will suppress any ad containing COVID-19 or terms related to the coronavirus (even those that are “approved” in the interface): this is related to ad creativities, as well as keywords and ad copy. Be attentive to a volume of 0 for impressions.
All generations are turning to social networks to stay connected during quarantine: research conducted by GlobalWebIndex identified a 27% increase in the use of social networks among Generation Z, 30% among Millennials, 29% among Generation X, and 15% among Boomers. Facebook reports a 70% increase in the usage of its family of apps since the crisis began.
This, combined with less competition for advertising space, has caused CPC and CPM to fall in our Facebook advertising portfolio. With cheaper ads and people still buying online (a study by McKinsey showed that people spent 14% more than usual on groceries and 1% more on household supplies, as well as 3% more on home entertainment).
Platforms are also adapting: due to concerns about fake news surrounding the coronavirus, Facebook is now manually reviewing all new ads and all changes in ad copy.
This move will greatly slow down the ad review process, so only make changes if absolutely necessary. If you need to update your ads or copy, you can follow these steps to ensure that this does not affect you too much:
This is a great opportunity to approach and start a dialogue with our target audience. What do your brand’s customers want to see? Consumer spending may be low in these weeks, but Forrester research suggests that they are looking for new and exciting things to fill the time freed by social distancing, and they are receptive to new messages.
Many companies have already reached out to their clientele to inform them about the ways they can help; this can be very different depending on the industry you are operating in:
Many gyms and studios have put free classes online, and creative brands have published free tutorials.
Delivery services are beginning to reduce commissions and relax contracts with restaurants. This movement supports the hospitality industry while simultaneously making food more accessible for those who may be more isolated.
Many B2C brands are simply changing their email marketing to send positive news to inboxes (videos of animals or images of neighbors singing from their balconies). If you do this, be very sensitive. We are all emotionally drained, so stick to sharing information that is genuinely useful for customers (and use email cautiously, as consumers are growing tired of the influx of coronavirus news in their inbox).
See how other companies are innovating, even those outside your sector. For example, several alcohol brands have been using their distilleries to make hand sanitizer, while Seat has put its factories to work making ventilators.
Pablo Marco is Co-founder and CEO of Fáktica Analytics
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Calle Núñez de Balboa, 35A
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Spain
Email: info@faktica.com
DATALYTICS
4 Portland Ct
St. Louis, MO 63108
USA
Email: info@faktica.com
Calle Núñez de Balboa, 35A
28001 Madrid
Email: info@faktica.com
DATALYTICS
4 Portland Ct
St. Louis, MO 63108
USA
Subsidized by the CDTI in 2022-2024.
Project title: Lead Management Technology based on
mathematical models and predictive algorithms
Subsidized by the CDTI in 2022-2024. Project title: Lead Management Technology based on mathematical models and predictive algorithms
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Spain
DATALYTICS
4 Portland Ct
St. Louis, MO 63108
USA
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