Advertising through networks is now more affordable.
Online advertising networks are reporting a slump due to the pandemic. Companies that are closed have no reason to advertise!
This is impacting major ad platforms such as Google and Facebook. Ad rates are down, and this is a great opportunity to try online advertising through networks again if your business has found it to not be cost-effective in the past.
My cost-per-conversion on Facebook ads has decreased over the past month. Also, my boosted Facebook posts are getting in front of more people per dollar than earlier this year.
Google is a bit of a different animal. Bidding auctions are likely way down for categories like travel and restaurants. While weakness is category-specific, fewer advertisers and lower bids also extend to the display network, including retargeting. This means that most types of advertisers should end up paying less if they are advertising through Google’s display network.
So, if your business is fortunate enough to not be closed during the pandemic, I recommend taking another look at online advertising campaigns that might give you a better ROI in today’s market.