Digital Marketing Spend Trends Post-Pandemic
The COVID-19 pandemic forever changed the way customers consume. Buyers are now putting their dollars where their trust is. Marketers have turned to digital marketing strategies to meet consumers where they are still spending most of their time: online. But while businesses continue to reopen their brick and mortar establishments, digital marketing is being pushed to the forefront to meet consumer expectations as efforts to reignite the economy remain.
Marketers are now able to see what new, or new to them; trends emerged to fulfill their business needs and are reallocating their budget dollars accordingly. As a business owner, the best time to step back and evaluate what worked for your company during the crisis is now. Spot and assess where changes can be made to your go-to-market strategy moving forward.
At Pyxl, digital marketing is our business, so we’ve been watching how companies are changing their spending habits to meet consumer expectations during COVID-19. Some trends we’ve noticed in the emergence of coronavirus are that brands are spending dollars once earmarked for traditional, print advertising and live in-person events. They are seizing the moment on low lost cost pay-per-click campaigns and promoting original content. Since nearly half of global consumers say they will not return to physical store locations for “some time” after staying at home. New digital marketing spend trends have emerged due to coronavirus and are likely here to stay.
Digital Marketing > Traditional Marketing
It’s no secret that business owners and marketers have shifted their dollars away from traditional advertising on billboards and cut costs on magazine ads in recent years. Still, with the enforcement of shelter-at-home and safer-at-home orders, brands have had to transition from traditional marketing campaigns to digital marketing campaigns faster than ever. After all, what good is a $10,000 a month billboard if no one is on the road to see it?
As the country reemerges from quarantine, businesses have learned they need to meet consumers where they are to deliver their messaging; today, that’s on a screen. In-store traffic decreased by 31% in the week of March 13 alone. Not having a robust digital marketing strategy in place right now will quite literally leave your customers in the dark about what’s going on with your brand.
Lead Generation Isn’t Cancelled
To supplement the lack of leads from canceled trade shows and in-person events, brands have found success in online lead generation digital marketing campaigns. Studies from the Center for Exhibition Industry Research (CEIR) found that roughly 40% of B2B business budgets earmarked for live exhibits. Due to a 500% surge in cancellations of events earlier this year, companies had to find other ways to meet potential buyers while maintaining social distancing.
Exhibiting brands able were to recoup some, if not all, of those show dollars that would spend and have pivoted to digital lead generation campaigns. If your business depends on live events for leads, connect with us to discover cost-effective ways to drive ROI in a world that’s become more remote.
Don’t Pause on PPC Campaigns
The cost of Pay Per Clicks have dropped over 50% since the onset of COVID-19. If you aren’t already doing so, now is the time for your business to take advantage of these significantly lower costs to continue targeted campaigns.
Launching and maintaining good PPC digital marketing campaigns requires more than a one-time setup. Pyxl uses data, analytics and real-time market trends to help determine the best use of your digital marketing spend.
Feeding Consumer Appetite for Content
Brands and businesses across the globe have adapted to the lifestyle and priority changes of their customer base as digital touchpoints expanded during stay-at-home isolation. The need for companies to leverage content marketing to inform, inspire and entertain consumers post-pandemic will remain high to stay connected in the age of coronavirus.
Don’t keep your customers starved for content. Now is a great time for customers to get to know your brand through blogs, email marketing efforts and on social media. With many consumers still choosing to stay at home, the best way for marketing strategies to meet them where they are are digital ones.
Quarantini and Chill
Want to learn more about how your business can better adapt to the “new normal” to meet consumer expectations in a post COVID world? Register for our second Virtual Happy Hour with Pyxl’s Founder and CEO, Brian Winter and HubSpot Senior Sales Manager Greg Brown, on June 4 at 3:30 CST.
If you’d like help ensuring your digital marketing strategy is making the best use of its budget, contact us here.
Updated: Aug 27, 2020