How The Current Pandemic Changed The Digital Market Scene
As you already know, the current pandemic is caused by COVID-19, which can be transmitted even before the onset of signs and symptoms, and lead to serious complications, such as pneumonia and death (in severe cases). That’s why lockdown, social distancing, and other crowd control measures have been imposed by different cities and countries around the world, hindering people from traveling and doing their normal daily routines.
While the economies affected by COVID-19 are sluggish, does the digital market benefit from the current pandemic? Or, does the market struggle and face a lot more challenges today than before the pandemic?
Current Pandemic Accelerates Development Of Digital Market
Undoubtedly, there’s a lot of clamor for COVID-19 treatment through digital channels. Just recently, the World Health Organization (WHO) released a Medical Product Alert warning healthcare professionals, health authorities, and consumers on the growing number of falsified medical products claiming to prevent, detect, and treat or cure coronavirus.
The full impact of coronavirus on financial markets and consumers can be long-term and still be determined. However, there’s one thing clear about the current impact of COVID-19 on the digital market scene–the acceleration of the development of the digital market, which involves search engine optimization (SEO) to increased website ranking offered by digital marketing agencies, like Evolve SEO Agency.
Here are ways governments, entrepreneurs, and investors accelerate digital market development:
- Making online payments more accessible and safer by meeting regulatory requirements and strict security features
- Providing more payment options, such as using digital currencies, like Bitcoins and Etherum
- Banks and other financial institutions are providing affordable credit for small- and medium-sized enterprises (SMEs) to aid in business recovery and smooth consumption
Businesses Embrace Digital Marketing Strategies More
Because of the pandemic, your target audience changed, and, for some businesses, their products became more appealing or demanding to new, broader audiences. That’s why you need to re-evaluate and go back to the basic principles the first time you got your marketing strategies up and running. It’s high time to identify problems and discover new opportunities so that you can adjust your business strategy accordingly.
Businesses ignoring the impacts of COVID-19 on their business marketing will soon realize that the performance of their campaign is plummeting; don’t be one of these companies. Rethink your online marketing strategy, pay close attention to the current goals and needs of your audience, and come up with a strategy that makes sense in the current state of affairs.
Here are ways business owners should carry out various online marketing tasks to double down marketing and prepare businesses once things start to get back to normal:
- Update or redesign website
- Brainstorm and write a few video ad scripts
- Take a closer look at paid search keyword strategies
- Map out your content strategies
- Review site analytics and determine trends and opportunities
- Redefine target campaigns
- Revise PR materials
- Review paid social media strategies
- Carry out split or A/B testing for ads and landing pages
- Overhaul marketing strategies
- Create a social media calendar
- Perform deep dive analysis of buyer personas
COVID-19 Fast-Tracks Digital Transformation
In response to school closures, travel bans, and crowd-control recommendations, many people have turned to online or digital tools to maintain some normality. Now, more than ever, it’s imperative to transform workplaces to be able to operate effectively digitally. Many businesses or companies are using and dramatically shifting to digital technology today because of the pandemic, thus fast-tracking digital transformation to stay ahead of the competition.
Here Are Ways The Current Health Crisis Fast-Tracks Digital Transformation:
- Shifting To Work From Home: Because of the unexpected outcome of COVID-19, many companies now realize the advantages of fast-tracking digital transformation. Many companies have adopted a distributed and remote workforce because of taking precautions due to the spread of coronavirus. More and more companies are building remote working policies so they can effectively transition into a work-from-home setup.
- Virtual Events And Conferences: Conferences are considered a trillion-dollar industry, so some companies attempt to bridge the gap through virtual events, combining online communications tools, such as video conferencing and networking. The coronavirus outbreak is pushing business owners and conference organizers to think outside the box. They need to provide alternative options that are compelling and ensure public safety, which could result in amazing future innovations on how people interact better virtually.
Crisis Email Marketing Needed Now More than Ever
The impact of COVID-19 or coronavirus continues to spread across the globe. Having said that, marketing experts worldwide need to reevaluate their strategies and budgets this year. Startups, small businesses, and corporations are all trying to stay afloat from the pandemic, struggling to manage business communications and operations during this time.
If email marketing is not currently a part of your communication and marketing strategies, the time has finally come to start embracing it. With many countries in lockdown and the world economy possibly experiencing recession, a low-cost, high-return marketing option that can keep your business communication lines open is email marketing.
So, how do you ensure that your target audience will read your emails? Check out some email marketing tips below:
- Ensure that your email content or message speaks to your target audience. Use sensitive language and make your content relevant.
- Don’t tell your audience that your products or services are a necessity because new normal has now changed, including what consumers perceive as critical or essential.
- Build your message around the role or need that your product or service can fulfill, making your customers feel valued. Tell your audience how your products and services can add some relief to their current situation.
- Always find the perfect balance between an uplifting and positive message that doesn’t come across as overly pushy. People tend to be sensitive to basic needs nowadays, so don’t add to the negativity and fear, but also don’t act as if nothing is wrong.
Because of the unexpected health and economic impacts of COVID-19, the digital market scene is greatly challenged. Businesses suddenly needed to accelerate digital market development, fast-track a good combination of digital marketing strategies, and adopt and invest in digital tools. All these can prepare them for the big changes they ought to face once the current pandemic starts to ease.