{"id":60594,"date":"2020-05-08T17:15:56","date_gmt":"2020-05-08T17:15:56","guid":{"rendered":"https:\/\/blog.glaciermediadigital.ca\/?p=60594"},"modified":"2020-05-08T17:15:56","modified_gmt":"2020-05-08T17:15:56","slug":"advertising-on-social-media-during-the-economic-downturn","status":"publish","type":"post","link":"https:\/\/blog.lodestardigital.ca\/index.php\/2020\/05\/08\/advertising-on-social-media-during-the-economic-downturn\/","title":{"rendered":"Advertising on Social Media During the Economic Downturn"},"content":{"rendered":"

The government of British Columbia has announced its plan to restart the economy<\/a> following the COVID-19 quarantine that accelerated an economic downturn. Many governments around the globe are either developing similar plans or implementing them already.<\/p>\n

Now that we have a clear path of action, the question business owners are faced with is how fast do they need to increase their advertising budgets?<\/p>\n

First of all, if your business hasn’t stopped advertising during the lockdown, congratulations, you are in a great position. Based on past data<\/a>, businesses that keep advertising during economic downturns recover faster than businesses that stop advertising altogether. However, not all companies could keep their marketing budgets intact. In fact, many businesses decide to cut their marketing budgets as soon as the economy starts shrinking.<\/p>\n

In the case of the pandemic, the decisions were made almost overnight.<\/p>\n

Here are a few examples of ads larger market players decided to run to stay top-of-mind:<\/em><\/p>\n

Uber<\/strong><\/p>\n