As the lockdown eases in several countries and mask-wearing becomes a norm for most, on today’s episode, Kunle talks about what your performance marketing strategy should look like in a post-COVID-19 environment as well as why now is the best time to prep up for Q4.

He talks about the prior increase in conversion rate over the lockdown period for a segment of brands and specifically addresses actions DTC brands should start taking in preparation for the challenging months ahead.

Covered Topics:

On today’s episode Kunle talks about,

• Metrics over the last two months
• The Panic Buying eCommerce Frenzy over Lockdown
• Data backed reasons as to why the boom is behind us
• The Impact of Motivation on Conversion Rate
• Facebook Advertising Set Up, TOF, MOF
• Creative Refresh

Podcast Show Notes:

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• 05:00 – What to Expect from Today’s Episode
• 05:39 – Recap of the Past Two Months
  • Panic Buying of Essential Goods
  • Specific verticals experienced doubled number of purchases.
  • Increase in conversion rates
  • CPM dropped – 55% drop in CPM per 1000 impressions
• 09:39 – Reasons for the drop in CPM
  • People were transfixed on their devices and on social media.
  • Tremendous amount of adverts coming in that only the most relevant adverts are clicked through.
• 10:40 – Verticals that were negatively impacted by COVID
  • air travel, travel products, hotels, tickets, sports events, gambling, physical retail stores, events, in-person services, car insurance, home insurance, insurance products, real estate
  • 30% drop in CPM across the board
• 11:47 – What has changed?
  • Conversion rates are going back to where they used to be.
  • Motivation levels have gone up.
  • There’s still no budget for advertising.
• 12:48 – What should we be doing right now?
  • Build out relevance in all your creatives.
  • Invest in your creatives and look at it from a top-of-funnel perspective.
  • Run competitor analysis.
  • No downtime in Facebook Advertising so far.
  • Optimize your feeds.
  • Increased competition in Google Shopping.
• 15:31 – Facebook Advertising
  • Creative refresh top-of-funnel
    • 60 seconds
  • Creative refresh for your mid-funnel
    • Check your particular offers and see how you can improve them.
    • Work on your copy.
    • What kind of copy used to work pre-COVID and optimise on that.
  • Objective: Get conversions and grab micro-conversions (visits, view content, initiate checkouts and purchases, mailing list)
  • Start aggressively acquiring traffic to prepare for Q4.
• 17:03 – Recommendations for Preparing for Q4

Topic Takeaways:

• Double down on your top-of-funnel traffic.
• Focus on a creative refresh and make your adverts relevant.
• Begin prepping up for Q4 by flushing in adverts to acquire more traffic.

Tweetable Quotes:

“Don’t walk on anything desperate. Do not give Black Friday-type of offers in July. It’s a loser thing to do and it will reduce the perception of your brand.”

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