Brands turn towards digital marketing during the Corona Virus 2020 Crisis!admin
In the wake of coronavirus (COVID-19) 2020 crisis, more and more worldwide known companies and brands are already adapting their marketing strategies to the isolative lifestyle. In this post, we will try to explain the reasons why many well-known brands and companies are calling the coronavirus “the black swan of 2020”!
There has been a noticeable drop in commercial activity since the crisis started. Some companies have seen their growth rates drop between December 2019 and February 2020. Several companies are now in danger of missing their Q1–2020 sales plans because of the effects the virus had in every industry and the fact that people are no longer outside their homes, shopping but rather sitting at home and using their mobile phones and laptops. Now more than ever properly planned and executed digital marketing strategies can help save small and medium-sized businesses. The primary focus of every business (if possible) should be online leads and sales, growing brand awareness and customer relations on social media channels, websites, forums and more!
Supply chain disruptions are shaping worldwide! Borders are closed and with that goods can be hard to import or export. The unprecedented lockdown in China is directly impacting global supply chains in every industry. Hardware, direct-to-consumer, and retailing companies may have to seek out alternative suppliers during the crisis. Software and digital companies are less exposed to experience disruptions because of the possibility to work from home, but remain in danger thanks to cascading economic effects that we are experiencing worldwide!
Many companies have banned all “non-essential” travel and a some have banned all international travel. While travel companies are directly impacted, all companies that depend upon in-person meetings to conduct sales, business development, or partnership discussions are being affected. Some deals just can’t be close on video calls!
Travel and event industries are also hit hard by the fears, cancellations and quarantine conditions over the past few months. Some companies, however, seem well-positioned to profit from the shifts in consumers behavior to online shopping!
The major advantage of digital marketing, besides the very fact that it doesn’t require face-to-face interaction, is that it’s measurable. Marketers can easily get a real picture of their spending return on investment (ROI), and which activities generate the best number of leads and at what expense.
Assuming that a lot of marketers will have some extra free time, especially those that will need to enter home isolation, they’re advised to use it to review their online marketing strategy and redefine their marketing messages.
Research conducted in 2018 by the middle for Exhibition Industry Research indicated that B2B marketers who participate in industry events allocated nearly 40 percent of their budgets to exhibitions and industry shows, almost five times quite the 8% spent on online marketing. If just little fractions of the events’ budgets shifted to online marketing, it will make a growth in web marketing.
The automotive industry has been one among the primary to adapting, replacing their offering from showroom to social media. In China, Mercedez Benz ran a campaign on the WeChat app that permits their customers to see a 360-degree interior view of its GLB SUV. Another car company, Geely, has recently launched a service that lets customers search and buy their cars online and have them delivered to their homes.
Fitness brands are taking an identical approach as residents adapt to indoor, gym-free lifestyle. Nike has been posting workout videos on TikTok, but not with weights, with water bottles. Fitness apps, that provide home workout routines, have also reportedly seen a rise in numbers of downloads.
In the UK, beauty brand Lush made personal hygiene vigilance with their recent hand-washing campaign. Store posters – which encouraged customers to return inside to scrub their hands for free of charge – didn’t mention coronavirus outright. However a press release from the corporate said: “We’re using our shop windows to promote the hand-washing guidelines as advised by the NHS in the UK and other public health organizations around the world. The current situation with the spread of the new Coronavirus means that it is more important than ever that people regularly wash their hands”.
Quarantine conditions are resulting in feelings of boredom and isolation, so people are naturally turning to their smartphones to reduce those feelings. While there could also be a fall in customer spending we don’t know yet! As Vogue Business acknowledged, the outbreak of Covid-19 has accelerated trends that were already developing in China, including investments in e-commerce, games and live streaming.
The message seems to be – your customers will spend one way or the other. If you offer them value during this time of panic, you’ll win their loyalty and when the panic is gone and that they do spend again, it’ll be with you. Our online print remains the same, newsletters keep coming – therefore, the friendships companies make with customers now remain loyal after the crisis!
If you need help with your digital marketing campaigns during the crisis our team will help you free of charge!