Coronavirus has created a devastating economic slowdown all around the world. As of writing this blog, 1,786,769 people are infected and over 109,275 people have lost their life. As COVID-19 continues to affect our daily lives, its impact is sometimes unexpected. It is a scary time for marketers and business owners. Obviously, we are in an unprecedented situation where we have never felt such global implications.
With the current coronavirus pandemic, many people are wondering if they should run Facebook and Google Ads during such a crisis.
Facebook Ads expert Ali Parmelee said it might be the perfect time to get started with social media and search advertising. This situation is very critical for advertisers and marketers to decide and plan their marketing activity for there company and business.
Audiences are spending more time online than never before. They are spending more time on Facebook, Instagram, and Google because of the covid19 pandemic. And could be the opposite for business to take advantage of.
Many businesses are concerned about whether this is a local, national or worldwide crisis! What business are you in! Is your product a luxury item or something more essential? How long this crisis will last. How severe is it? Many such questions arise in the minds of many business owners, corporations and organizations.
Most people don’t know how the business will survive during such pandemic which no one has ever seen. No Business was prepared for such a crisis. Nevertheless, a business has to run any cost because many people and employees are depending on it. But you don’t have to halt all aspects of your business.
In the end, each business and marketer needs to make the best decision in their own manner in order to ensure their business survives. However, if you’re still able to continue running ads. It is likely to be beneficial and that could be the thing that keeps your business surviving through the difficult weeks and months or even years ahead.
Before we move towards the reasons why you should run Facebook and Google ads for Your Real-estate Business during COVID-19 there is one key point you should be aware of, while it is still a good time to advertise buy you should note that conversion will not be usual as before. Your campaign may not generate bottom-line results.
In this, We will see the benefits of running Facebook ads and Google ads during the COVID-19 crisis for your Real estate business.
1. Digital attention is very high
Because of the nationwide lockdown and panic among people, most businesses are closed and most people are staying at home and doing work from home to reduce the spread of the coronavirus, hence social media usage is rapidly increasing. Since people are not going out for work, not having fun or engaging in outdoor activities they are turning to Facebook, Instagram and Google much more time than normal – which means a large amount of impression is also increasing as many people are online than ever before and the potential to reach your target audience is large. Therefore it leads to a lower cost of the campaign.
While people are social distancing, they will still be researching, purchasing, and living the dream online. Many are now surfing the web for information, news, entertainment and more than ever. The online audience has increased tremendously recently because of the coronavirus outbreak.
You can create a Google display campaign for brand Awareness or conversion for your online business at Lower CPC and CPM basis.
Many Digital marketing experts are saying this situation is not necessarily recommended to test any new product launch or initiative. However, those businesses that can manage and afford to keep the Facebook and Google campaign running for the next 60 or 90 will do well during this sensitive time in the market.
2. Many of your competitors are pausing their Ad campaigns
Coronavirus has created disruption in every business in the economy, whenever there is crisis or problems in proper function of a business, the first reaction that many businesses have is to pause their online ad campaign immediately with a belief to restarting then again when the situation gets down to normal but if you paused your ad campaign for more than 7 days the learning that ad campaign has done will go again is the circles.
With many of your competitors are likely out of running the campaign, your shared potential audience base will be expanding and as competition for audiences in Facebook and Google Ads and lower competition for the keywords in Google ads auction and as a result, you will see lower operating costs (CPC, CPM, and CPV) in your ad campaign.
Businesses are cutting their Marketing expenses due to fear of coronavirus pandemic. Reduced advertiser means you can get more on every money spent, reach more users and generate more leads and sales. On Google, businesses can run search ads because of the less competition in ad auction for every search.
Analysts are predicting that Facebook advertising revenue based on the current coronavirus crisis will decline by 19% for the coming quarter of 2020. That’s a lot of potential competition that won’t be in your ad auction. For 2020, Google’s total net revenue is now projected to be about $127.5 billion, down $28.6 billion versus Cowen’s prior estimate (an 18% decline).
3. Brand awareness is a now low-cost objective
Property Sales, leads and conversion are likely to slow down obviously due to less customer confidence and trust in this current market. It could be a great idea to shift to a lower cost objective like brand awareness and consideration for Facebook ads and Brand awareness, Reach and Product consideration and Website traffic for Google ads.
The brand awareness campaign is designed towards generating as many impressions as possible to target the audience in hopes of generating higher brand understanding and recall.
These types of ads typically generate results in few paise and it is really advisable to keep brand awareness high. if you are a new company this approach would be beneficial in the current scenario. If you need to scale down the budgets, and you believe that brand awareness is more business central than property sales at this crisis then this approach is the way to go. For real estate business, it is important to capture leads of the potential customer so website traffic objective would be great where a customer can get to know your business and also can feel lead form for your Real estate property. And when this whole thing is over, you’ll see the property revenue pouring in from these same leads.
Facebook and Google ads both have the largest audience and advertising spaces to show ads to potential customers.
4. You have the opportunity to serve people now, and win Your business later
As a marketer or advertiser, it is your job to keep marketing activity running and function still in the time crisis. A company will not survive without the cash inflow into the business. Any business should try to minimize its expenses and profit too to survive in this coronavirus crisis.
There are some key business areas and reasons why you should keep your Facebook and Google ads active during this time. It is also important how an audience will perceive your brand image during the pandemic. So we highly recommend not to do hard-selling of your real estate project at this stage and try to change your marketing messages or offers in order to serve people.
Just changing your approach a little bit in the short term can help you to win consumer confidence and trust in the long term. You as real estate company can offer discounts offers, a freebie in the future or even complementary privilege to premium services
We should be very sensitive on we Market our real estate products during this sensitive crisis,
Offering helpful thoughtful service. Providing consumer value and utility in a time of need won’t be forgotten when the crisis passes.
As the coronavirus pandemic is spreading rapidly in India. As of writing, this blog over 9,000 people are infected and 300 people have lost their lives in India. We wish you all good and healthy in this time of uncertain crisis. It is very stressful and challenging for every type of business in every economy and for real estate marketer maintaining the balance between the business need and issue sensitivity will remain a challenging task,
Take into account the situation your audience is facing, what they need, want and what point your real estate business can help and how you can build a kind, thoughtful, respectful campaign and offers that will go a long way towards helping your business make it through this crisis.
The government is working very hard to contain the spread of the virus and every sector should uphold itself in times of crisis.
Good luck & don’t forget to follow the government guidelines and wash your hands.