The coronavirus has changed the way people used to live and spend money and with this impacting almost every other business, in-App Advertising isn’t an exception. The dropping Ad Spend leading to dropping Ad Revenues have made this one potential advertising strategy look murky. But before you call off this way of advertising, it still has plenty left for the business owners if done rightly.
An Influencer Marketing Hub survey suggests that 69% of brands agreed upon cutting off their Ad Spend in 2020.
Upon cutting the advertising budget and witnessing shift in user behavior and attitude Business owners are on the verge to suffer $2.1 Trillion loss in the ongoing year. Consequently, that has led to significant low CPM making it equally challenging for the publishers as well. But that’s not unanimously true to all as the Gaming Apps are still making it big and others following their footsteps are Music (+93%), Health & Fitness (+107%), Shopping (+30%), and News Apps (+189%).
Generally, majority of the business owners have witnessed the negative impact of Coronavirus on their businesses
In-App Advertising for Business Owners/Advertisers during Covid-19
Revisiting your Targeted Audience
Before this Covid-19 stalling the businesses, seems like everyone was on move. The travel-enthusiasts, commuters, school going students, business owners and others were making purchases for their daily life activities. But now the situation is the exact opposite to that as people are confined to their homes amid lockdown and their priorities are different as the aura around. So, when you advertise nowadays, always keep it noted that majority of your audience is restricted to their homes.
Not Pomp and Show, Utility is the Key
The style has always been the selling point but now as people are going through a pandemic, this may be something on least priority for them when considering to buy something. The user might be thinking for more of the utility and cost-effective, so that they seal comfort and that too without spending too big just for the sake of style.
Falling eCPM is boon in disguise for New Business Owners
The eCPM has never remained stagnant since Coronavirus turned catastrophic. The dropping eCPM in China in March raised some serious concern but it wasn’t the same in for other countries. Even now the eCPM is unstable it increases or decreases in a bit. In the latter situation, dropping eCPM is an ideal situation for the new business owners to enhance their brand awareness with spending low and getting more outreach.
Conversion isn’t the Key
Everyone determines the success of the campaign according to the CTR, but amid coronavirus, it isn’t something on priority. The brand awareness is the key, engagement is the second thing and then comes the conversion. So, advertising is equally important to make yourself relevant in the current scenario but without mulling on for conversions.
Coronavirus is impacting business worldwide and it’s no different for the in-App Advertising. But still, with people spending more of their time using Apps, it’s an opportunity in one or the other way to advertise your business.