Since the COVID-19 Pandemic outbreak we’ve experienced significant changes in our life and this has affected our online behaviour. COVID-19 has had an impact on Google Ads across a variety of industries and as consequence advertisers are hustling to figure out how to adapt to the new normal and foresee what can happen to plan accordingly.
Although the figures are slightly different depending on guild, we can state that the average clickthrough rate (CTR) has increased during COVID-19, specially on Google Search Campaigns.
Many sectors have observed growth in the number of impressions and clicks on the Search Engine Results Pages (SERP). In fact, Food & Groceries as well as Charities & Nonprofits have CTRs that greatly exceed the usual. Even industries that typically have low CTRs, such as the Finance or Legal sectors, are now finding solid ground on the SERP. One of the industries that is suffering the most is the travel industry, as travellers are looking to cancel their plans, it would be recomendable for advertisers to exclude customers with upcoming itineraries from their paid campaigns to avoid using budget for them to land on the page only to cancel their trip.
As a reaction to the uncertainty marketeers are pulling back, this causes ad auctions to be less competitive, hence cost per click rates have been decreasing. However, the economic impact of the COVID-19 is having an effect on conversions, especially regarding small businesses, sadly many are struggling to convert new customers due to the circumstances. Nonetheless industries that have been hit by the limitations of social distancing, restaurants and car dealerships for instance, are shifting their focus to the online aspect of their business promoting contactless delivery in the case of restaurants and online showrooms and auctions in the case of car dealerships.
The following chart depicts the average conversion rate on Google Ads:
Overall, businesses are changing their strategy in order to adapt to the situation and like we’ve explained in previous publications, marketeers are taking different approaches. In general, most are reducing their budgets and redirecting their focus towards new trends. As the coronavirus outbreak changes the way we go about our daily lives, marketeers ought to adapt ad campaigns to the current reality. Therefore, keeping a close eye on the market, identifying trends and adapting in real time is core to developing an adequate marketing strategy that will yield positive results.
At Kenshō our extensive experience across different industries and our thoroughness when it comes to market analysis enables us to define a tailored strategy to offer the right audience content that they will find valuable. Reach out on our website, www.kensho.marketing , and we’ll be happy to add value to your business while helping you strengthen your brands connection with your clients.