Facebook Ad Performance During COVID19 - A Startup Founders Guide
Ads doing worse? Here's Why & How To Fix It.
Depending on your industry (and competition) you will be seeing your ads doing either better or worse. We prepared all our client ad accounts and have seen a steady improvement in results. This is because we've hedged for changes.
To make the necessary changes to your ads and ultimately decrease your cost, you will need to ask yourself a series of questions.
- Are my competitors pulling their budgets?
- Are there more people going to be trying to bid for my interest/ keywords?
- Are my ads focused on the wrong objective?
- Will I have to change my ads.
👇 Continue Reading From Here.
Are My Competitors Pulling Their Budget?
Good, that means you're competing with less people for more clicks, taking your budget further. It's like a car auction with 2 people instead of 100 people. You're going to walk away with that brand new Ferrari for a lot less! Don't stop advertising, but adjust your approach and creative. What worked before won't work now. Read our blog about changes you need to make here:
Are others (non direct competitors) going to be bidding for these keywords/ my keywords?
If the answer is yes and your budget is limited, we recommend taking a step back and testing the waters. If you see that your ad can compete both in quality and budget, then scale into that audience. If you see that that is not the case, focus your attention on places where your money goes farther.
Are my ads focused on the wrong objectives?
Now this one is much harder to gauge and talk about generally, as we can't know this without looking at your numbers. We would recommend signing up for our free 30 Minute consultation. We can actually answer those questions then.
But generally, If you are not selling essentials, or if you do not have something really really great to right now, you might will want to shift your objectives during this crisis as people are trying to save on non-essential products. Instead of being too sales-y in your ads consider reach and brand awareness objectives. Build up a following and target them later when they have expendable income!
Will I have to change my ads?
Simply put, yes. As we said above what worked before won't work now. Times have changed and you have to change with them. It's not drastic changes, but read the elephant in the room. Be sensitive and sensible to everyones situation.
Understanding the above helps you better understand the changes you need to make to your ads and digital strategy. Have questions? We're giving away 30 minute free strategy calls (usually $700) to help business owners and founders through this difficult time. Book a slot here.