A knight in shining armour? – Let’s get Flexible
With 21% of travel marketers setting aside more ad budget for testing and innovation, many are keeping an eye on emerging channels and technology advances to see where they should invest next. So, what will disrupt marketing and where should you be looking to invest over the next couple of years?
- 51% – AR or VR
- 43% – Messaging Apps or SMS
- 39% – Smart Speakers or Voice Search
- 38% – Connected TV
- 38% – Interactive Video Advertising
- 33% – Machine Learned Generated Audience
- 32% – Chatbots
- 27% – Audio Advertising
Many are facing either a reduction in budget or no budget at all, so what are your options? If you’re facing a reduction, review your budget caps and the channels your activity is on, consider flexible channels such as programmatic advertising where consumer presence and available impressions are increasing. However, if you’re faced with no budget, look through the archives, repurpose content, consider UGC or post content that had been scheduled (but be considerate of the current climate). In short keep the conversation flowing, continuing with some form of content will help you rank higher both in terms of social media algorithms but also on search. Digital display ads, social media, and online video are channels that most likely will increase in the short-term media plan.
Busy Roads – Conversion is the Challenge
Traffic to websites have seen a surge as people have more time to consume content, more time at home and communicate in person less, however conversion rates have dropped. Update your website in order to assuage concerns and encourage bookings, consider creating and implementing a splash page on your website. Reconsider your campaign budget allocation, revisit your keywords and look at using Programmatic or including video campaigns into your digital mix and regularly review search query reports and trending topics to help drive conversions.
Seizing the opportunity
With many affected companies decreasing their marketing budgets, we are seeing a drop of up to 47% in CPM and CPC prices (due to a decline in competition). This is an ideal opportunity for some marketers to acquire new customers at a lower cost than previously. Consumers spend more time reading or watching the news than ever before. Marketers now have the opportunity to capture more eyeballs by advertising on these popular websites, at a lower cost than the pre-corona period.
Cut the Corona-content cord
We’re all aware of the Experience Economy, with attractions, destinations, retail and leisure all closed, there is a massive void in people’s lives. But what type of content are people after…
- Video – Video is the norm for now, all platforms are investing to improve their video offerings and capabilities because this form of content is engaging and has a higher conversion/ retention rate. Popular forms include product demos, presentation, live videos, ads, vlogs, interviews, webinars, tutorials and DIY/E-Learning.
- Interactive – Connection and connecting with others is now more important than ever, give people an opportunity to experience simply with shoppable posts, VR/AR, Quizzes and Polls, this form of content is 93% more effective.
- Hyper-Dynamic – This personalisation in hyper drive mode, people want dynamic marketing messages sent at the right time, for this you need to mine information such as interests, demographics and location etc.
- Voice Search Tailored – Searches via voice are up 20% but it still baffles a lot of brands, so it is important to figure out the semantics of content tailored to voice search.
- SEO Centric – Algorithms, the thing that can scare a lot of people, they’re constantly changing and we as marketeers need to keep them in mind whilst creating content that will gain reach. Focus on what your consumers want to read and interact with, then build your content around it.
Connect, engage and approach strategically with a focus on short-term results. The coronavirus implications for marketing can be daunting and scary but give Rebecca a call on 0161 819 5140 and we can navigate this together. We can discuss key takeaways and ideas or even if you just fancy a (virtual) chat we love a Zoom meeting (not as much as the real thing).