Even though protecting our health is the most important thing in this moment, the second most important is protecting business and economies. COVID-19 pandemic also known as corona virus will influence all of us in a way. When speaking about being impacted by it, I do not refer to the thought of all of us being infected by it, my thoughts are orinted on the whole influence it will have on our lives. Unfortunatelly, the consequences of corona virus are already taking their piece on global economy and it seems like it won’t stop anytime soon. In order to normally continue our lives, we must stay focused and by working together, we must optimise the workflow and adjust to the currect situation. That requiers a union of all managers, team leads and, employers and employees.
This is not another blog post concerning the virus itself or an article about political desicions because I do not consider myself an expert in that field. My focus in on business management – digital marketing and the digitalising businesses. Certain brands have already taken care of their digital business presence and are pretty resistant to such crisis – Konzum is a perfect example of such. Their webshop Konzum klik has huge advantage when it comes to comparing with other retailers. In other hand, it’s still not too late and reacting now can make most brands still find a way to keep their business working. Believe it or not, there are still some postive parts of this whole story and my mission is to describe them here and now.
Sea storms show who are the real captains
In these hard times, CEO’s, HR managers and business leaders are on a huge mission. Now is the time to take our masks off (even though the sales of masks are really high now). Posting inspirational quotes on LinkedIn is now a matter of the past. Now is the time to turn your words into action. Business leaders are now under huge pressure to make the right and smart decisions and even more importantnly – to stick to them. Your clients take the first place, but your employees’ importance cannot be ignored too. It is crucial to inform your employees about the real image of this whole situation and to inform them about potential changes than might be made. Iti s also very important to have rational employees in the first place – this might be the situation to filter who you employ. If we treat our employees which bring profit to our business, they will correctly treat our clients and consumers.
The potential of digital marketing in the age of crisis
To be honest, lately I thought that the future of marketing looks very boring considering the amount of data agencies and advertisers have in their hands, but the situation turned around for about 180 degrees in a direction no one expected. Recently, no bigger opportunities for creativity boom and innovation was possible. In the spirit of positivity and potential this brings, here are five main points we should definitely use now using digital marketing tools:
- E- commerce – having considered our future is most likely in quarantene, physical contact will be very much avoided. That means huge potential for online stores and those who will be forced to close their stores. The opportunity is now to digitalise your business and in long term to increase your sales using it. This pandemic also provides us with more free time which means business managers and owners can dedicate more time to their websites and webshops by creating new ideas and adding more content. When it comes to food delivery, a great move was made by Wolt and Glovo which now deliver food without contact between the carrier and customer.
- Brand awareness – decision makers in their enterprises must be aware why they hired marketing experts in the first place. Users are now speding a huge amount of time online reading various articles, surfing the Internet and informing themselves. Behaving like nothing is going on is potentially the worst move that can be made – brands need to adjust their communication to the situaction currently happening and take care of their consumers on the highest level. If you don’t appreciate them now, will you ever?
- Cheaper advertising – Facebook and Google are two biggest platforms for digital advertising and have already announced helping business. Facebook has annouced donating to small businesses. In addition, advertising on these two platform works on the principle of bidding and having in mind most brands are now cutting their advertising budgets (which I believe is wrong), demand is getting lower and so is CPC (Cost Per Click) and other key performance indicators. That is already happening and we are following it. This phenomenon of advertising being cheaper is only temporary so it needs to be taken advantage of now. In the long term, it is possible that the prices will again go up because more and more businesses will go digital and the demand for advertising might go up.
- Businesses going digital – In Croatia, a large number of business will stick to the traditional marketing tools. Those who will truly want to keep their company going will turn to innovations and new business models. In my opinion, pressure is the greatest motivatior for business leaders and I am sure this current situation will increase creativity and innovation. A perfect example of that is BISTRO 5 which created a virtual restaurant in short time keeping their team and income.
- Public relations – corona virus is now the top word being searched and Twitter published that every 45 milisecond, a new tweet about corona virus is being published. Bearing that in mind, news pages and media are adjusting and writing about the most popular content at the moment. Some do it better, some do it on not such a high level, but that is not the topic we are commenting now. My point is that if a business comes up with innovation and a creative idea which is then turned into action with the help of marketing experts, there’s a huge potential that a lot of PR will be done. A great example of such is PornHub which once again perfectly used this situation and have Italy free premium version.
All in all, the Earth is still spinning and by investing a lot of effort, many brands can survive on the market and make the influence of corona virus easier to bear. Probably everyone will be at loss, but it’s on us how to take it and in which amount. Pandemic will end sooner or later, but life goes on and the only view point we should take now is the long term one. This text helping even one single person would make me really happy and there is more to come.
In this situation, ForgeBIT offers free consuting services about your business going digital, so feel free to reach out for a meeting of a chat.