COVID-19 has had an enormous impact on both our personal and professional lives. When we talk about a personal level, social conduct has been changed, small-small things have changed. From the way, we talk to people in public, to physical contact. When all these changes are happening, it affects our professional lives as well. These changes need to be implemented. All the measures should be taken to keep the workspace environment safe. Business owners are trying to find new, improve solutions and ideas to stay afloat during this pandemic. Because it has had a negative impact on numerous industries. Slowly restrictions are being lifted in different countries, but the measures to stay protected is a must. Countries are trying to lift these restrictions so that the economy can start flowing again. But the bigger concern which is in everyone’s mind is enhanced sanitization, social distancing, protective types of equipment like masks, etc. Given new circumstances, many industries are down falling. These changes require strategy and cannot be done overnight. The influence of COVID-19 is seen in all the sizes and types of companies. Many alterations are being made in different industries from cutting short expenses as much as possible to contactless delivery.
COVID-19 has affected the digital marketing industry severely. Digital marketing is the constituent of the marketing that focuses on the internet and on the online built digital technologies such as laptops, computers, mobiles, and any other digital media platforms through which they can perform such services. The power of digital marketing is to permit geophysical barriers to vanish thus making all the consumers and businesses on the earth probable customers and suppliers. It is also recognized for its ability to let the business connect and also to form a deal anywhere and anytime.
Impact on Conversion rates:
COVID-19 pandemic’s lockdowns have affected an army of industries and sectors in numerous ways. The outcome of this is that there is a change in the behavior of Web users. It has resulted in some recognizable online trends which results in the organic traffic and also affects the conversion rates.
Naturally, the traffic has been increased to the sites which are focused on industries such as media, healthcare, and finance. The traffic has again generally decreased to the sites which are focused on traveling, construction, camping, and more.
When we talk about conversion rates, in the same manner, the conversion rates to the sites which are focused on healthcare, pharmacy, and media have increased. And in the same way conversion rates have been decreased for sites that focus on traveling, transportation, and camping.
Business is becoming volatile due to the COVID-19 pandemic, and business owners are coming to terms with it. The digital marketing industry should be a primary focus in these times. It does not matter even if you have temporarily frozen operations or have started to implement innovative ideas. How one company focuses on the digital marketing industry is what will make them at par. It would be foolish to discount the power and also the pull of live, physical, and offline marketing. It is creating a sizable challenge for marketers as it is increasing barriers on the face to face business. Due to this virus, the offline markets are going into the drain, as people are becoming more cautious and more scared to go out and walk through the doors of businesses and shake hands. Keeping in mind the current times, and also knowing this change is going to be for long, the effect in digital marketing is increasing. It should be focused on and taken into account.
Recession due to COVID 19:
The shock which has occurred due to COVID-19 and the lockdown has been immense. It has plunged the global economy into a very serious contraction. This represents the deepest recession after the Second World War. The swift and the blow in the economy is affecting severely in those countries where the pandemic is more extreme. It is affecting those countries where heavy reliance on economic growth depends upon global trade, tourism, export, and financing.
Apart from these generic sectors, all sectors of the market have an effect due to COVID-19, especially digital marketing. It is affected in an indirect way. Since people are losing their job, earning lesser salaries, and also are not succeeding, they are becoming more and more afraid of investing in digital marketing. But the digital marketing industry is one industry which due to COVID-19 can thrive. It could be because of these reasons:
Online effort can be undertaken much more quickly. It is also cost-efficient than an offline campaign. Digital marketing is mostly less expensive than in other sectors.
Digital marketing offers superior measurability and also trackability than compared to other tactics.
Digital marketing can target a much larger population.
With the current scenario in mind, digital marketing can focus on increasing revenue from current customers.
The Internet is one safe space. It is safe from the virus and this place is not quarantined unlike us. Digital marketing is becoming the new era. And the brands who don’t even have a social page yet should change their strategy. Since times are changing and the business in all the sectors are being affected. It is important to adapt accordingly and explore the web or social media platforms. Through this, through digital marketing, there is still scope for businesses to flourish.
Digital marketing is changing. It is becoming more strong during this crisis and pandemic. It has started to become a prominent mode to reach customers. But to thrive in digital space it is also important to remember how volatile and sensitive the current scenario is. As of now, we don’t know how long this crisis will continue. It is extremely important to accept the challenges and adopt innovative strategies for digital marketing. Digital marketing is not temporary, it offers long term benefits. The digital marketing industry is one industry in which you should start investing. It will be a smart call to save the business during this crisis. COVID-19 has affected many industries. Some of these effects are negative and some can be positive. It depends on you if you are willing to put in the work and trust and invest. Adaptability will for sure improve the crisis handling in not just this but also all the future emergencies.