COVID-19 Impact on the Online Education Industry
At RADaR, we work to ensure our clients have the tools and data to adapt quickly, enabling them to continue to grow their business no matter the environment. Earlier this year, our team analyzed current trends different industries began to see in their marketing efforts as a result of COVID-19. As 2020 comes to a close, let’s take a look back and see how these trends played out through the rest of the year — starting with Online Education.
In the first two months of 2020, Facebook’s average performance from Online Education was lower than the performance observed last year, with a CPC 67% and CPM 59% higher and a CTR 5% lower. However, after the measures to fight the spread of COVID-19 were put in place in early March, there was a significant improvement with a lower average CPM (-45%) and CPC (-57%) and a CTR 43% higher in comparison to 2019.
It has become more expensive to display an Ad for Online Education on Google Ads this year, with an average CPC 183% higher in comparison to 2019. However, the engagement rate increased so much (CTR 339% higher) that the YOY average CPC is 24% lower this year.
To learn more about data solutions for your business, contact us.