🎯 Direct Response Reigns Supreme During COVID-19 -> FB Revenues up 17% YOY, Google up 10%
What has been a strong start of the year for many huge companies, COVID-19’s dulling effect can be felt through the final weeks of the quarter.
(Here’s an IAB report showing the impact on ad revenue & spend)
Quotes from Facebook, Google, Twitter, Snap and Microsoft:
“We experienced a significant reduction in the demand for advertising, as well as a related decline in the pricing of our ads, over the last three weeks of the first quarter of 2020.” — Facebook (Advertising revenues increased by 17% year-over-year to $17.4 billion.)
“. . . but then in March we experienced a significant slowdown in ad revenues” — Google/Alphabet (Advertising revenues increased by 10% year-over-year to $33.8 billion for the quarter.)
“. . . a strong start to the quarter that was impacted by widespread economic disruption related to COVID-19 in March.” — Twitter (Ad revenue was flat year-over-year at $682 million.)
“While many advertising budgets declined due to COVID-19, we experienced high revenue growth rates in the first two months of the quarter which offset our lower growth in March.” — Snap (Revenue increased by 44% year-over-year to $462 million.)
“. . . a significant reduction in advertising spend, which impacted our Search and LinkedIn businesses.” — Microsoft (Search ad revenue grew by 1% and LinkedIn revenues increased by 21%.)
What’s interesting is direct response still reigns supreme over branding advertising.
Facebook said it has seen “signs of stability” in the first three weeks of April.
Brands and top of funnel campaigns are folding budgets, while performance campaigns remains stable or even sees increased ad spend on some channels.
With Facebook, Google and Snap mentioning a positive end-of-quarter impact of direct response revenue.
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You Can Now List Your Products on Google Shopping for Free
Google makes a significant shift to its Google Shopping platform by letting anyone list products from their inventory for free:
“We think that by doing this, it helps many more shoppers find what they’re looking for, but it also helps bring some quite needed relief to the retail and small business ecosystem.”
Existing users can now apply to place listing for free through Google’s Merchant Center.
Google Shopping hasn’t let you list anything for free since 2012, but they say they’ve been working on these changes for some time.
The coronavirus pandemic has accelerated plans and the new free option should be in effect right now – released for the US on April 27th and Google plans on rolling out the Shopping update worldwide over the next few months.
Google’s also working with the likes of Shopify in order to deliver smoother and faster integrations and listings.
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Stay tuned for the next edition of MRKTRS WKLY.
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