With more people at home than ever before, it’s no surprise that social media and online sales have seen a surge in traffic that is increasing more and more by the day.
Unfortunately, even if this situation resolves soon, businesses will have already suffered a huge blow and will continue to struggle for well over a year because they will have to make up for their losses.
And not only are people losing money but they are losing traffic and conversions due to not keeping their social media content or ads going. But as studies have shown, it is more important than ever to maintain a presence online, ensuring you keep a consistent and ever-growing reach.
Obvious.ly examined 260 of its own campaigns including over 7.5 million Instagram posts and saw a 76% increase in daily accumulated likes on #ad posts over the last two weeks. Q1 Instagram campaign impressions also increased by 22% over Q4.
The company also analyzed data from 2,152 TikTok influencers and saw engagement jump by over 27 percent on average from February to March.
Now is the best time to double down while others are not.
A few companies are using this self-isolation situation to provide people with a glimpse of services previously locked off by a paywall, such as PornHub offering free premium subscriptions to Italian residents, as well as donating a percentage of its Modelhub proceeds to local Italian hospitals.
This is a great way of helping the global pandemic while also introducing customers to these premium services and keeping a good percentage of people on once the paywall returns.
During an economic downturn, you’ll find that you will have less competition, which means it is easier and faster to get results, and in some cases, you’ll be able to get deals and potentially reach new audiences.
The more people you catch the eye of, the more power you will hold in the future.
So when you see your competitors closing down or slowing down on their marketing, the goal is to double down. You may not see the biggest return right away, but in the long term, you will.
As we recover, you’ll see your revenue climb and the ROI from your marketing spend go through the roof.