How to use Digital Marketing to fight through COVID for SMBs
Unfortunately for America, we are now being hit with a pandemic that is causing hundreds of deaths worldwide and thousands more becoming sick. Within the business world, most companies in major cities are insisting employees work from home. Not only is this concerning, but as of today, the stock market fell nearly 1,200 points, leading our economy into a bear market. Despite these challenges, e-commerce businesses may find reasons to remain optimistic.
What We Know
COVID-19, the virus responsible for the current pandemic, can be transmitted through the air but not necessarily through packages. This means e-commerce brands can continue to ship products and fulfill orders without fear of spreading the virus through their goods. Based on our experiences at Blade Commerce, people are still buying online. Many brands are maintaining their return on ad spend (ROAS) or return on investment (ROI) despite the broader economic and health impacts.
Taking Advantage of Work From Home
With more people working from home, online shopping is likely to increase. This presents an opportunity for e-commerce brands to capitalize on digital advertising. By targeting users with Facebook or Google Ads featuring products they have searched for or viewed in the past 90 days, you can leverage both prospecting and remarketing strategies. We have observed that, even amidst the pandemic, consumers are still willing to make purchases.
What to Do with Your Digital Marketing Budget
When it comes to budgeting, we recommend dialing back your ad spend by at least 20% for now. This adjustment can free up funds to support employee pay or cover other essential costs without completely disrupting the ad learning process on platforms like Facebook.
Key Recommendations:
Maintain Advertising Efforts: Continue investing in digital advertising but with a reduced budget.
Focus on High-ROI Channels: Prioritize advertising channels that deliver the best return.
Reallocate Funds: Use the savings from reduced ad spend to support other business needs.
Our Current Marketing Results
For one of our clients in the aftermarket auto parts industry, we have seen a significant increase in sales. In the past three days alone, this business has nearly doubled its sales and revenue. The products sold by this client range in price from $20 to $1,500, suggesting that the cost of the product does not necessarily impact sales during this period.
Case Study:
Industry: Aftermarket auto parts
Sales Increase: Nearly doubled in three days
Product Price Range: $20 - $1,500
Insight: High demand for products despite the pandemic
Conclusion
The pandemic presents numerous challenges, but it also offers unique opportunities for e-commerce businesses. By continuing to invest in digital advertising, focusing on high-ROI channels, and reallocating budget as needed, e-commerce brands can navigate these uncertain times successfully. If you have any questions or need further assistance, please feel free to contact us directly at Blade Commerce. Our team is here to help you thrive during these challenging times.
