Today’s episode is going to be a quick tip type episode. Here’s my strategy for what to do with your PPC ads if and when a second economic stimulus package gets approved.
Hey everybody. It’s Jim Lastinger. Welcome to another episode of Marketing in 10. Hope you’re doing really well. T.
Today’s episode is going to be really short and you can think of this as just a quick tip. A few months back when the first economic stimulus package in the US was passed, e-commerce companies really had strong sales, the days and weeks after the first deposit started hitting customer accounts. Higher priced items tended to see a bigger increase in sales, but pretty much all accounts saw a good boost in sales. So if there’s a second stimulus package that gets approved, and I feel pretty sure there will be at some point before the election in November, you’ll want to be ready.
Here’s what I would do. Pay attention to the news cycle and figure out when the first customer deposits are set to arrive. Ideally you’ll want to know the exact day that funds begin hitting checking accounts. If it’s anything like last time, you’ll see deposits get spread out over a few weeks, but you’ll want to be prepared for when the first deposits start hitting accounts. You’ll want to know as close to exactly the day that funds are supposed to start hitting accounts.
And if the stimulus had a positive impact the first time around for you, then you’ll want to be prepared. So what you’ll want to do is you’ll want to be ready to increase your daily ad budgets as soon as customers start getting funds. How much you increase is up to you and kind of depends on how successful you were the first time around, but I would start with something like 30%. If you’re seeing good results after a couple of days, then you should probably go up even more.
The main idea is to just be prepared. The better prepared you are, the more effectively you’ll be able to take advantage of this kind of unique opportunity that we don’t see come around too often.
That’s it for today, short and sweet. I’ll be back soon with another episode and another digital marketing strategy to help you grow your sales and grow your impact. Take care, everyone. Talk soon.