- Because there are many uncertainties as to how the upcoming few months will influence the international business world, it’s important for marketers to look at different spectrums to make informed and timely marketing decisions.
- Delivery services like Amazon and DoorDash are expected to observe a massive rise in demand due to their capacity to deliver products and services at the customer’s doorstep.
- Except for the media as they had a massive conversion lift, almost all major industries have faced a noticeable dropdown in their conversion rates in the past few months.
The Covid-19 outbreak has taken the entire world by storm. Almost all major industries have been affected, including the marketing industry. While the impact of this pandemic on the consumer’s buying patterns and brands is currently unknown, all major digital marketing agencies and affordable SEO services are already starting to see how it is affecting the common marketing practices.
With big marketing events being canceled or postponed for an unspecified period of time, marketers are facing high volumes of stress, considering the fact that they won’t be able to market their campaigns the way they’re used to.
Because there are many uncertainties as to how the upcoming few months will influence the international business world, it’s important for marketers to look at different spectrums to make informed and timely marketing decisions.
Changing buying behaviors and impact on different industries are the two key areas to consider during these unprecedented times.
Shift in Consumer Behavior
As more and more people prefer to work from home these days, it will lead to a substantial rise in the time spent online. Also, delivery services like Amazon and DoorDash are expected to observe a massive rise in demand due to their capacity to deliver products and services at the customer’s doorstep.
Impact on Industries
While there’s an obvious potential advantage for delivery and dropshipping companies, other services that put customers in close contact with others are likely to suffer. This will not only affect the company’s internal operations but also their worker’s employment status, and working schedules will be impacted.
In this article, we’ll help you understand how the marketing sector will be affected in this pandemic and what you need to do to stay on top of your marketing game.
Traditional Marketing approaches including TV ads, radio ads, and print advertisements will take a big hit as brands no longer are interested in these approaches considering the present lockdown situation all around the world. Let’s take an example of radio here that is usually used by people when they’re in the car. But with people staying at their homes, marketers will have to either know the times that customers are tuning into channels or may have to shift to other alternatives to market their products.
How is the Current Pandemic Affecting Digital Marketing?
Digital marketers are definitely in a better position as people are already avoiding real-time shopping experiences. According to research, there’s a massive rise in daily downloads of grocery delivery apps like Walmart, Instacart, and Shipt in the month of February. This clearly shows that more customers are shifting to online shopping. Due to remote working, people are spending more time online. This gives digital marketers an opportunity to leverage the power of social media and other digital platforms.
Here, it’s extremely important to understand that since consumers will be more active online, the pressure to create high-quality relevant content will be huge. Marketers will have to ensure that they publish value-added premium content to stay relevant during these challenging times. Also, they should make every possible effort to support their customers during this pandemic.
According to research, four in ten humans are using their cellphones much more frequently to keep themselves updated with the recent Coronavirus news. Hence, marketers must consider including more and more information about Covid-19 updates as this is what people currently want to read and know about.
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How Marketers Are Affected by Covid-19?
Businesses Are Going to Struggle Even if the Crisis is over
Even if the spread of the virus slows down, the businesses may have to struggle for a while to neutralize the current loss. Take an example of China here in which the Covid-19 crisis caused a massive 20.5% drop in retail sales while the rate of unemployment elevated to 6.2%.
Even tech giants like Apple and Sony closed down their stores to prevent the spread of the deadly virus. Obviously, all of these preventive measures have affected the company’s overall sale and revenue. Yes, companies like Apple are still in a position to pay their employees during the lockdown, but not all companies acquire that much resources and running cash to do the same.
So, marketers should not only look for ways to cope with the current marketing challenges, but also strive to develop a long-term strategy that can help them sustain and survive in coming days.
Even Online Businesses Are Struggling to Have Organic Traffic
There is no denying the fact that online businesses are in a far better position than brick and mortar stores, it’s also a fact that there’s a steep decline in the overall spending of individuals. Many people are forced to go on unpaid leaves and it’s pretty obvious that they’re not willing to spend on non-essential items during this time. Travel and transportation, telecom, education, construction, and manufacturing are some of the many industries that are facing substantial decline in traffic growth due to Covid-19.
Conversions Were Low for Most Industries
As far as conversions are concerned, we observed a steep decline in most industries as well. Except for the media as they had a massive conversion lift, almost all major industries have faced a noticeable dropdown in their conversion rates in the past few months.
What Marketers Should Do to Cope with Marketing Challenges During Covid-19?
As the impact of the Coronavirus outbreak continues to spread out, brands and digital marketing agencies should monitor the current situation closely and keep an eye on the varying consumer behaviors to ensure they’re ready for the upcoming situation and also to find new opportunities.
Make sure you find out answers to these questions before revising your marketing strategy to go in line with the current crisis:
- Is your business brick and mortar, an online store, or both?
- What are your products or services?
- Who’s your target audience?
- How is your target market affected by the current pandemic?
- How is the current outbreak impacting your customer’s buying behaviors?
- How can you offer more value to your customers during this difficult time?
- Are your workers safe and is your business able to provide safe customer experiences?
In addition to that, there is one important thing marketers SHOULD NOT DO to stay competitive in this situation.
Don’t Exploit the Current Situation
Sadly, most of the businesses (in-store and online) are trying to take advantage of the current situation. From protective gear and masks to toilet paper and disinfectants, marketers are buying them at low cost and reselling on eBay for up to 10-50 times more price.
Honestly, this isn’t ethical marketing. We would suggest you to follow the best marketing practices and avoid exploiting fear to sell your products.
Sure, you may be able to make some quick cash, but it is very short-sighted.
All in all, marketers need to understand that they have to adapt to the current situation to survive. Also, this crisis should be taken as an opportunity as customers might not even want to go back to traditional approaches once the pandemic is over. So, businesses must take action now to create an online presence that can help them survive in the future.
What are some other challenges do you think the current pandemic will bring to the marketers? Drop your feedback in the comments section below as we would love to hear back.
Stay Home, Stay Safe…