How COVID-19 has dramatically changed business at Volvo, and what they’re doing about it

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30-second summary: ClickZ hosted a webinar, The Impact of COVID-19 on the Automotive Industry & Marketing with Trevor Hettesheimer, Manager, KPI’s, Analytics, Search & Planning at Volvo. There has been a sharp drop in automotive sales compared to the 2020 forecast in January, which predicted 16.8 million in total sales and 13.4 million in retail sales. As a result of nationwide shutdowns combined with an oil price war, automotive industry sales were down 41% in March 2020 compared with the previous year. To help mitigate the impact on its business, Volvo took inventory of their U.S. dealerships and assessed who could remain open for sales and service. They then assessed what dealers could do business online and brainstormed ways they could safely deliver cars or allow consumers in lockdown to have their cars serviced. Hettesheimer noted that the most significant drop in sales would likely be April at 60-80% below what was initially forecasted at the start of 2020. Based on the pre-virus forecast, Volvo decided to cut all planned media spend for April and May, except for paid search which is based on consumer intent. They audited their ad copy and messaging to ensure it made sense in the current business climate. Volvo is constantly monitoring the state of the economic recovery across the U.S to inform when they decide to relaunch their advertising. Hettesheimer summarizes four key steps that businesses can use to inform their marketing decisions: take inventory, review all messaging and adjust as appropriate, capture demand with search marketing, and take note of changing search behaviors and tailor content accordingly. We recently hosted a webinar on the impact of COVID-19 on the automotive industry and marketing with Trevor Hettesheimer, Manager, KPI’s, Analytics, Search & Planning at Volvo. Trevor has spent over two decades at Volvo US in a variety of different roles. He began his career as Volvo’s Global Marketing Analyst and helped to bring their first SUV to market, the award-winning XC90. Hettesheimer currently focuses on reporting and presenting predictive analytics based on Volvo’s KPI’s. Hettesheimer is also responsible for Volvo’s paid search marketing and SEO activities in the US. In the webinar, which is part of our new Peer Network initiative , Hettesheimer shares insights and data on how COVID-19 has dramatically changed business at Volvo. The impact of COVID-19 on the automotive industry In order to understand COVID-19’s impact on business in the …

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17 ways PPC can help your business survive economic crisis

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People are clicking, but are they buying? WHEN will they buy? Are they buying too much too fast? When will stores reopen and foot traffic resume? Consumer demand is evaporating for some businesses, while others may be unable to fulfill orders due to supply chain disruptions or shipping challenges. Dynamics shift daily, if not hourly. Now some good news: Search marketing is adaptable, measurable, and when done correctly, cost effective. Even with shifting data models, PPC pros can use timely trends to guide strategic decisions. COVID dashboards Tinuiti has created a useful dashboard that provides a look at trends in paid Facebook media since the pandemic took hold. It requires you to sign up (free, with your email) and offers insights into media spend by key verticals. Tinuiti advertising spend tracker shows changes in ad spend week over week and month over month. The dashboard is regularly updated with week-on-week …

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Is automotive a bellwether for Google My Business trends during COVID-19?

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Over the past few months, COVID-19 has had a dramatic impact on the performance of Google My Business (GMB) listings across every industry. Businesses have scrambled to keep their GMB listings up to date and relevant with Google suspending customer reviews and scaling back support. Meanwhile, how has GMB performance been affected? To find out, I worked with my company Reputation.com to examine GMB performance across all verticals. One trend that seemed to come out of this analysis was that automotive appears to be not only a bellwether for the U.S. economy, but also as an industry to look at to see what is likely going to happen on GMB for other industries. So how have people interacted with automotive GMBs during COVID-19 so far? This is an important question. A GMB listing acts as a business’ digital front door . And importantly, performance metrics on GMB listings provide a …

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Key insights: Effect of COVID-19 on consumer behavior, the world’s more video content savvy, and Apple shakes up AR

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30-second summary: According to Global Web Index’s findings, 80% of consumers in the U.S. and UK say they have consumed more content since the outbreak. According to emarketer, 49% of marketing professionals and agencies held back a campaign launch until later in 2020 and 45% stopped or paused a media campaign midway. Admoik shared that there was a 17.2% drop in week-over-week ad revenues, direct deal and programmatic guarantee being the biggest drops. Despite the 8.3% decrease of retail industry’s M&A deals, Apple acquired AR technology startup, NextVR for a $100 million with an intention to launch its AR headset in 2022 and AR glasses in 2023. 53% of consumers prefer brands to communicate through TV ads. According to McKinsey, UK, Spain, and Italy are least optimistic, whereas the US (37%) and China (48%) are optimistic about their economies jumping back to normal in the next two-to-three months. Purchases are …

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17 ways PPC can help your business survive economic crisis

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People are clicking, but are they buying? WHEN will they buy? Are they buying too much too fast? When will stores reopen and foot traffic resume? Consumer demand is evaporating for some businesses, while others may be unable to fulfill orders due to supply chain disruptions or shipping challenges. Dynamics shift daily, if not hourly. Now some good news: Search marketing is adaptable, measurable, and when done correctly, cost effective. Even with shifting data models, PPC pros can use timely trends to guide strategic decisions. COVID dashboards Tinuiti has created a useful dashboard that provides a look at trends in paid Facebook media since the pandemic took hold. It requires you to sign up (free, with your email) and offers insights into media spend by key verticals. Tinuiti advertising spend tracker shows changes in ad spend week over week and month over month. The dashboard is regularly updated with week-on-week …

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How would an SEO agency be built today? Part 1: Consumers and trends

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The pandemic put everything to a halt. Then, it forced people and businesses alike in the beginner’s mind . The Zen concept hints at a seeming paradox: as you know more and more about a subject, you tend to dismiss other possibilities. What follows is a quest of shaping choices for the near future in a three-part piece that highlights a core question — How would you build an SEO agency in 2020? We’ll explore the complexity of the topic, mapping key touchpoints that create the agency landscape, from assessing current trends on consumer behaviour, to how key partners of an SEO agency have changed: Consumer and business trends that are emerging and transforming the way people interact. (part one) The current SEO agency business model and its in-depth analysis. (part two) The possibilities ingrained in thinking about what a reshaped SEO agency of 2020 and beyond looks like. (part …

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Key insights: People prefer COVID-19 sensitive ads, pandemic’s effect on marketing, and the tech thriving right now

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30-second summary: In order to adapt to the “new normal” 24% of people plan to delay large purchases. 42% are planning to cook at home to save money over the next six months. People are spending anything between 3 to 7 hours on social media in a day. Adtaxi survey found that 68% of people find it helpful when ads show regard of the current scenario and 62% know that brands mean well. 42% of market leaders mentioned that their marketing teams lacked the bandwidth to quickly adapt to shifting priorities and create new content. As per Adobe and Fortune’s collaborative survey, cybersecurity will be a top tech priority. Companies using enterprise-level planning and project management tools face comparatively lesser challenges in these taxing times. More details on what’s working and what’s not. As toilet papers and sanitizers remain scarce and people miss elements of regular lives there’s an abundance …

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Key insights: Consumer trust segmented, the power of push notifications, martech stacks lack strategy, and more

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30-second summary: Healthcare and educational institutes win consumer trust while media and government struggle March saw push notifications reach their highest direct open rates and 32% of website visits were through these mobile app push notifications Mobile remains the best way to engage people with push notifications DemandLab’s recent ‘Martech stack optimization survey’ reveals that 53% of marketing leaders have no plan in place for their martech stacks Deals have shown a positive graph, Australia and Germany are opening up their economies due to some relief from the COVID-19 hit Conviva study segments streaming behavior across regions and devices – TV, PC, live streaming, and video on demand Standard ads vs COVID-19 based ads, what performed better? More on what CMOs’ immediate budget actions should be Information is power and mental health is key. In light of current events, we took the onus to save you the effort and have …

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Practical tips to transition your ecommerce business in the second half of 2020

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30-second summary: The idea of flexible pricing is to ensure sales, and it’s easier to make sales by selling products at the lowest price. However, your goal should be to find a price at which consumer purchasing friction is low, and the profit margin is fair enough. Leveraging perpetual inventory management software for inventory accounting is ideal for ecommerce sites. It will keep you up to speed about the sale and purchases of goods and items. Be it a loyal customer or a new customer, ecommerce stores need to ensure that every customer passes through the same authentication steps with no exceptions. Employing AI and Machine Learning algorithms could help in this case. If you haven’t got a chatbot for your business, then this is the time to get one. You can get a chatbot builder or take the help of an agency to construct a bespoke chatbot to drive …

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Search insights and shifting consumer behaviors and trends during COVID-19

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As people following the stay-at-home requests, we’re seeing an increase in searches. We want to provide regularly updated insights and trends specific to different verticals to help you understand the search trends and shifts in consumer behavior happening right now. What’s driving change in the auto vertical? Sources: COVID Insights: Autos Consumer Sentiment – New & Used Searches and COVID Insights: Automotive Click Trends For many of us, the thought of our daily commute is slowly fading off into the distance as we continue to stay home during the mandated shelter in place. With most cars now sitting idle in their garage or driveway, we’ll look under the hood to determine what’s driving the biggest changes in consumer search trends for the auto vertical. Since this time last year, the marketplace has seen a decline in searches for new cars by 19% and used cars by 8%. This doesn’t come …

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Key Insights: Marketing technology industry August snapshot and CMOs’ plans

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30-second summary: As of August, nearly 42% of marketers reported decreasing marketing budgets. Interestingly, 33% of marketing budgets are allocated to marketing technology. 44% of CMOs experienced mid-year budget cuts with 11% expecting significant budget cuts. Top marketing technologies on marketers’ minds that will win wallet share. CMOs’ plans, strategic preferences, and intentions to give 2021 revenues that extra push. Will they explore beyond their existing markets? Find out what’s in store. All things new, exciting, and technology that happened at ClickZ this month Businesses are now acclimatizing as focuses shifted from surviving COVID-19 to co-existing with the pandemic. We’ve been tracking six-core marketing parameters and this week’s insights give you a quick snapshot of where the industry is headed and how CMOs plans are looking for 2021 growth. The marketing budget situation The market has been highly volatile due to the COVID-19 pandemic and following the global recession. Marketing …

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