Socialbakers, a well known social media marketing platform, released a comprehensive report on the trends of social media for Q1 2020. The report narrates the impact of COVID-19 on market trends and the key changes in paid advertising around the world.
The Q1 report hints a decrease in advertising costs per click (CPC) in the regions affected by COVID-19, and also a significant increase in the amount of time people spend online during the global pandemic. These trends offer brands a chance to expand their reach among audiences who spend more time online, with potentially lower costs for sponsored content.
Socialbakers measured six regions among those five saw a decline in the CPC during March when the pandemic really hit. The overall reach for Facebook brand pages decreased from mid-March brands that promoted their posts, taking advantage of lower advertising costs, saw a 28.6 percent increase in page reach from March 13 to April 13.
By practicing social distance in the midst of a global pandemic, people spend more time online, according to data from Socialbakers. Facebook Brand fans in Europe, for example, spent more time online every day of the week and every waking hour in March compared to the previous months.
East Asia, where business is resuming, has seen ad spending rise since the beginning of March. The zone has also seen an increase in CPC over the last month, returning to 2019 levels. This suggests that as other regions control coronavirus, their ad spending will also bounce back.
According to CEO of Socialbakers, Yuval Ben-Itzhak, during the pandemic, the world has seen just how supreme social media is as the resource for consumers to find content. People have been spending more time on social media engaging content and at the same time, brands have been strained to hold their budgets in response to the economic unpredictability. Furthermore, he also said these behaviours have opened a special window of opportunity for savvy brands to stay close to their consumers while increasing their reach and engagement at a lower cost.
In Q1 2020, top influencers were more likely to be authentic, natural who posted more relatable content that made an impact on real-world human situations over aspirational posts.
The Socialbakers Social Media Trends Report Q1 2020 is now available for download.
Socialbakers help brands work smart on social media through AI-powered marketing, is a trusted partner to thousands of enterprise brands and SMBs, including over 100 companies on the list of Fortune Global 500. Founded in 13 October 2008, it has over 2,500 clients across 100 countries.
For more information about the Socialbakers click http://www.socialbakers.com