I am sure we all know what Facebook ads are, if you don’t, just log in to your Facebook or Instagram account and scroll down a few times until you see a ‘Sponsored’ post, this is a ‘Facebook Ad’. Facebook advertising is incredibly powerful, allowing you to specifically target your market that you want to advertise to, ensuring that you are not spending your money on people who would never be interested in your product or service.
As we are writing this, the world is dealing with a global pandemic, COVID-19. This has almost put the world into shutdown, with many governments deciding to enforce lockdowns on unnecessary travel, events and even limits on how many times you can leave your home. These changes have obviously impacted businesses negatively. If people can not leave the house, they can not continue with their daily routines.
So why is it more important to advertise on Facebook now more than ever?
It is simple really; firstly and probably the most obvious, when people are home, and forced to stay inside, what will they choose to do to kill the time? More than likely, it is to troll through the news feed of Facebook or Instagram. Digital Attention is at an all-time high! Have you checked your account today, have you been on your phone more than you usually would do in a standard week, I bet you have? Well because of this increase in time spent on Facebook and Instagram, if you were to run Facebook ads now you are more likely to reach your target audience.
Now the second point is slightly more technical but the principle is a really simple one to understand. As a marketing agency, we run ads all the time, so we get to see the price of ads fluctuate constantly. What we have noticed is a HUGE DECREASE in competition for Ad space. This is possibly due to the fact that whenever there is an economic crisis, people tend to cut back on overheads and outgoings. The marketing budget is, unfortunately, and inadvisably one of the first things to go. That leaves a very simple equation, Less competition on Facebook ad space = Lower Facebook Ad Costs.
So already we can hit more of our target audience for a fraction of the cost! If that still isn’t enough to convince you that Facebook Ads are more important now than ever then this should…
Your competition has more than likely put their campaigns on pause. This is a mistake, it allows you to win business completely unopposed. When would you ever get this opportunity again!
An important tip for your Facebook Ads, do not aim to hard sell in times like this, instead, think about how you can help or serve people. How can your product or service help them through this time and have a positive impact?