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Coronavirus Starting to Affect Digital Ad Revenue

As the Coronavirus continues to spread rapidly across the globe, Google is advising businesses that are affected to update their Google My Business Listings.

Google posted an official help document this week asking businesses affected by COVID-19 to keep customers informed with up-to-date information regarding your business operations using Google My Business.

Google’s main recommendations include:

  • Update your business hours
  • Explain whether or not your business is affected by the Coronavirus
  • Inform customers of any precautions you are taking
  • Create posts to keep people informed as things change
  • Ensure your phone number is up to date

How the Virus is Affecting Search and Ad Spend

Meanwhile, the virus, which has affected approximately 134,000 people worldwide, is having a chain reaction on various industries, including digital marketing.

In fact, according to Search Engine Land, Google and Facebook are expected to experience ad revenue declines across several industries that are affected by the virus. The industries mentioned that are being affected the most represent 30 to 45% of Facebook’s total ad revenue and include:

  • Update your business hours
  • Travel
  • Retail
  • Consumer packaged goods
  • Entertainment

Google in particular is projected to experience a 15% year-over-year decline in travel ad revenue during the first quarter and a 20% drop in the second quarter due to the outbreak.

As the virus is still active and more and more cases are being reported every day, not much else is known about the full impact it will have in the world of digital marketing. So, until we know more, our best advice is to sit tight, keep and eye on things, keep your customers informed, and wash your hands!

via GIPHY