What is PPC?
PPC or “pay per click” is a form of digital advertising where you pay each time someone clicks on your ad. Common PPC advertising includes Google Ads, Microsoft (or Bing) Ads, and social media advertising such as Facebook Ads, and the cost you pay for each click varies depending on many factors. Trends in the past couple of months have shown how much COVID-19 has affected PPC advertising.
How COVID-19 Has Impacted Digital Advertising
Many industries have seen a drop in the typical search volume while others have seen spikes in searches and traffic. There has also been a noticeable shift in average cost for PPC advertising in many industries, likely due to many factors such as what is top-of-mind for the typical person during this time, businesses choosing to lower advertising budgets or pause their campaigns altogether, and more.
So, what are people mostly searching for? (I’m sure you can guess.) There has been an increase in searches related to topics such as coronavirus or COVID-19, medical masks, health and wellness, travel policies, and remote work. As well as an increase in searches for things such as virtual “___” (“party,” “event,” “happy hour,” and more) and very localized searches for businesses open “near me” and businesses offering delivery or curbside pickup near me.
Cost Per Click Trends & Strategies to Help Your Business’ Digital Advertising
Some industries have seen a drop in search volume as well as a drop in average cost per click. This presents a unique chance to possibly get new leads at a lower cost. While this sounds nice, it will take some strategy behind your ads, ad copy, and more. You want your ads to resonate with your audience during this time and not to seem insensitive to the current economic state.
On the other end of the spectrum, industries such as the medical, education, and e-commerce industries have seen average CPC increase drastically for certain search terms. The spike in search traffic and people’s interest in these topics has resulted in a more competitive landscape.
If your business falls into one of these industries, you can be strategic in what you advertise and your keyword selection as well as your bidding strategy. On those keywords with increased competition and cost-per-clicks that have increased 10x, it’s recommended you set maximum bids to control the amount of your overall ad budget that’s going to the keywords with high CPCs. As always, it’s important to focus your keyword and budget strategy in a way that will maximize results.
Social Media Advertising Trends & Opportunities For Your Business
As people are spending more time at home and indoors, there has been an increase in time spent online and on social media. This opens opportunities for your business to broaden your audience and reach by utilizing social media ads to connect and engage with potential customers. One thing to keep in mind as you manage your ads: With people spending more time on social media, those in your target audience will likely see your ads multiple times in a shorter period of time than usual. Be sure to create new ads regularly to keep your ads fresh and interesting!