Revealing crucial insights, How the Covid-19 pandemic has changed the way we work, shop and communicate with people more than any other disruption (including technological ones) in the recent past. As more people start working from home, they are sticking to basics, stepping outside only to buy essentials and are constantly worried about the risks of getting infected in crowded places like malls and supermarkets.
Myself Lakshya Sharma being a Digital Marketing & Social Media Consultant with more than 2 Lakh page audience, I was able to witness these shifts in consumer behaviour and retail trends from close quarters.
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While People are staying at home and have plenty of time to consume content; I even see that the time’s people are consuming digital content is spread across the day. As a result, the supply is significant, and in addition to that, the brand’s advertisement budgets are being cut. That’s shifted the balance of the marketplace. On the positive side, data from parts of Asia, where the virus has diminished, show a rebound in advertising as workplaces have begun to re-open
This worldwide pandemic has had an effect on brands’ social media strategy and performance. This can be seen in a variety of areas, including lower demand for paid ads on Facebook, the increased performance of organic content, and perhaps a hidden opportunity for brands that do have some budget to spend and increase their reach because of the lower costs of ads on Facebook.
Because people have been forced into social distancing at home, they have more time to consume social media content and as a result, the supply is trending up. That has also created new possible opportunities for smart marketers to create engaging content.
Looking at recent trends in cost per click, ad spends, click-through rate, and more. In summary, the decrease in paid advertising has been seen across all metrics, while the trends have a correlation to the relative regional spread of, and recovery from, COVID-19.