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The Coronavirus pandemic has impacted nearly every industry and as such, marketers are juggling multiple challenges. As the financial arms of companies start to intervene and make more of the larger business decisions, marketers are finding that their budgets are slashed and as a result, are having to do more with less. So how can marketers reach new customers in such uncertain times and more importantly, how can they optimize and ensure the investments they DO make are making an impact on the increasingly important bottom line?
As part of our weekly 15 Minute Digital Planning Survival Guide webinar series, we interviewed Monica Niblack, VP of Strategic Accounts at LQ Digital to better understand how the pandemic has impacted Paid Search, what marketers should be paying attention to and steps they can take to improve their efforts.
Learn how to make Paid Search work for you and even uncover new growth opportunities using strategic tactics, such as:
- Reminding yourself of the core of your customer acquisition strategy, so you can stay laser focused on your target segment, channel priority and creative – but also understand where to pivot. Instead of pausing all of your Paid Search efforts, now is the time to get really clean and strategic.
- Since media costs have fallen so quickly, it opens up opportunity to refresh old campaigns that could not meet previous profitability targets – so now is the time to take advantage of shorter, faster testing.
- Find new profitable growth areas with faster testing of the marginal economics and incrementality (vol / cost). This type of testing is vital right now. At LQ Digital, we’ve used this method to open up new revenue opportunities for clients that otherwise, would be more severely impacted during the shutdown.
- Continually re-verify and monitor your key profitability and conversion metrics all the way down your funnel to revenue. Depending on which stage you see performance changes, it can lead to different remedies to changing creative, target segments and bidding.
At LQ Digital, we’ve captured a lot of data over the last 15 years on what scores as best-in-class digital performance (search, social, affiliate). At this time we want to contribute by sharing our data, knowledge and expertise to help your company survive this turbulent time and provide relief. Watch the webinar for free here:
Still have questions or want a us to cover a particular topic? Email us at firstname.lastname@example.org and remember to subscribe to our webinar series so you always have the latest news and insight in your inbox: subscribe here.
- Digital Economist
- Paid Search