The past few years have seen a massive shift within the digital marketing landscape, and the COVID-19 outbreak has managed to shake things up even more than ever before leading, to several changes in advertising strategies.
One thing is sure, the digital marketing industry is indeed affected, and it will continue to deal with some of the downsides for a long time.
Advertising costs are lower when compared to pre-pandemic times.
The outbreak has led to many company closures allowing for advertising costs to be lowered. Many people are flocking to social media and news sites, so ads targetted on these platforms get the most views & clicks. It’s essential to handle that change accordingly and at the highest possible level, because it will help bring in the right efficiency and value. Other avenues, such as regular blogs, tend to see less advertising revenue.
Companies need to add value to their customers.
At this time, an organization needs to focus more on business contributions. A firm needs to help people by keeping them informed and provide that factor of safety. Without doing so, a company will not achieve what they have in mind, and that’s what they need to understand. Business growth will come eventually; for now, they must nurture the relationship with customers.
The rise of E-commerce.
Because people are stuck at homes mostly due to fear or government stay-at-home orders, most buying activity has moved online, so e-commerce sites have seen a massive surge in sales - Amazon MENA has increased their workforce by 30% to meet demands. Even brick and mortar stores have begun a shift to online stores because they could no longer serve their customers offline by going down the Social Commerce route. Plenty of organizations have implemented machine learning and AI within their sales model to help process data and provide them with vital pieces of information that they need to enhance sales.
Cashflow and revenue reductions.
Since most businesses are affected by sales, their digital marketing budgets have been cut short. Companies are spending a lot less on ads, although this is the right time to do so. It’s imperative to provide customers with the most value and quality because that gives the efficiency a company wants to have.
These translate into spending less money on ads and marketing in general. However, companies also pay less on productivity since people are working from home- Although most conglomerates have come on record to say that this new method of working is proving to be a lot more productive than the traditional work environment. They are allowing for a natural evolution of the business landscape, considering the situation.
Businesses during the pandemic are facing plenty of difficulties. That’s why the digital marketing world also took quite the hit. Yet the potential is still great. E-commerce companies are investing more and more in their digital marketing approach to gain customers. If the pandemic has shown us one thing, that would be the fact that digital marketing and shopping online in the future. Companies need to invest more in digital marketing and an online presence to reach the utmost potential.
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