Facebook Network pricing during COVID-19
Going into a country-wide lockdown, people have had more time on their hands than before, and have turned to social media to keep themselves entertained and connected. There are no social distancing rules online! With more people using social media than ever, there are no longer ‘prime’ times to push ads out on Facebook. With a lot of brands pulling ad spend due to the pandemic, the auction for ad space essentially became cheaper, bringing down the costs of reaching your target audience.
At All Response Media, we were prepared to see CPMs (cost of reaching 1,000 people) drop and have been monitoring the CPMs across the Facebook Network since lockdown began. Across 18 sectors and numerous clients, we have been tracking and measuring the average CPM 30 days before the announcement of lockdown (23rd March), the 30 days after 23rd March and the most recent 7 days.
As things are starting to relax more and return to normal, we’re seeing the CPMs increase over the last 7 days compared to the 30 days after lockdown was announced. However, CPMs across the board are still 6% cheaper, so there’s still no better time to invest in social ad spend when all our attention is focused on our social media apps. Contact your ARM team to explore the possibilities.
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