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LETS GET DOWN TO BUSINESS.

Question :
Should I spend money on Facebook ads at this point in time when people have less disposable income to spend but I’ll get more awareness of the brand?

Question submitted 25/03/20 @ 07:29pm
Industry: Brand & Marketing
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  • Nows a great time to build brand awareness IMO especially if you move toward really delivering value to your customers by leaning into helping them solve their problems in the context of your product and the unique challenges we face as a society now. I’d steer away from investing in trying to convert right now unless you have a product that speaks to the unique set of challenges posed by COVID-19

    Currently advertising costs on Facebook are plummeting and the audience is skyrocketing as people all of a sudden find they have more time on their sleeves and are hungry for information. So now is a great time to build some brand awareness but I would be very cautious of the amount you spend if you aren’t able to convert during this time as consumers have very short memories. Also, I would keep a close eye on your frequency (the amount of times the same person sees your ad) you don’t want to be paying for the same person to see your ad over and over again.

    Agree with the points above. Also you might want to consider tailoring your content to be more brand-led (vs. product or offer-led, since conversion isn’t the desired outcome anyway), but using a tone of voice that respects the overall mood of the targeted audience. I.e. tailor the message carefully, otherwise you risk coming across as tone-deaf. Also, the point above on consumer memories is absolutely true – be mindful of timing of any messaging and the lag to eventual call-to-action. Building brand equity through a value message that aligns to current sentiment is probably worthwhile and helping build positive dialogue with the community can be a way to relieve their general anxiety.

    At this time (just like any other time) it’s important to focus on what the data is telling you. Are you getting value for your marketing spend? If you have good tracking set up to measure engagement and conversions, you will be in a position to decide for yourself whether Facebook advertising is a good use of your money. Every business is different and you will only learn by doing. Good luck!
    Cheers
    Matt

    If you are selling online – and able to fulfil and deliver, then yes. And I’m sure you are getting granular about measuring the performance of the ads.

    I’d be careful about brand building right now – you shouldn’t stop but the feeds are crowded and the message needs to be refined and tailored for the moment. You want to avoid appearing to be “ambulance chasing”.

    Critically, cash is king during times of crisis. Don’t spend if your cash is tight.

    Big brands have largely pulled back – that’s a mistake. Small and emerging brands need a slightly different playbook.

    Am keeping a close eye on FB costs – they are seeing declines in spending which should make for more invetory at a lower cost

    Carlos, in addition to the efficiency/otherwise of the channel, make sure you consider your messaging very carefully. If you do advertise (many, including myself, are), make sure that your messaging is tailored to people’s new reality, understanding and empathetic. Hard-hitting sales messages and irrelevant promos will come across as tone-deaf and risk alienating your consumers.

    Carlos, I agree with the advice above and would emphasise the importance of making sure you get your messaging right. There will, quite rightly, be a low public threshold for any messaging that appears opportunistic. Timing, tone and understanding the space your audience is in right now, is everything. Consumers are hungry for good news and want light-hearted or meaningful content. In time, think about future-focused and aspirational messaging too.

    Carlos, if I recall you are in the retail business. My speciality is everything retail.

    One of the key pieces of advice right now is cash is king. Before you spend a cent, I would be very considered in planning and understanding how much you will need to invest in engaging your core audience once life goes back to BC (before-Covid). Customers are being cautious because of the uncertainty of Covid. Customers are also very fickle and with the volumes of content they are consuming, your message; however clever and engaging it is, could be quickly forgotten.

    Is there another idea of getting shoppers or audiences to get involved with voting on new product ideas or new concepts. Find other ways to involve them and help them build what your future looks like.
    If they vote then can they place a pre-order?

    In any marcomms, invest wisely as it might take more than the usual effort to get customers coming back to your door.

    Hi Carlos

    Building on from Juanita’s point of view, for me, this is far less a question of cost-effectiveness of channel and tailoring of message to ensure relevant.

    If you are wanting to connect (which after all, is what marcomms is), then what is the VALUE you’re bringing to the table? What is your value prop? Is THIS relevant? Don’t annoy people with irrelevant offers let alone irrelevant comms. Innovate or refine your value prop to meet the NEEDS of your target audience. Get this right first and then, and only then, go out at communicate.
    Go well
    Melissa

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