How COVID-19 Is Impacting The Digital Industry
Curious about how COVID-19 is distrupting traditional commerce? Learn how COVID-19 is impacting digital marketing around the world in today’s featured blog.
The world will one day return to a normal, more consistent with what we experienced pre-pandemic. However, it will never go back to the way it was completed.
One way in which COVID-19 has permanently altered the world is how we do business.
Before the pandemic, the world was already shifting to an online economy.
However, the pandemic provided a significant boost to this trend, arguably pushing it forward several decades. The market now demands products and services that can be deliveredsafely.
And businesses are increasingly abandoning storefronts and the traditional brick-and-mortar approach to commerce.
The ongoing global pandemic has had horrible impacts on countless business owners, with some even losing their livelihoods, and being forced to give up on their dreams.
But a silver-lining of these times is that the new normal, which we are all shifting toward, will be better suited to small businesses.
That is, provided they have a sound content marketing strategy to help them connect with their target audience.
More Money Is Being Spent Online Now Than Before The Pandemic
More money is being spent online now than ever in human history.
People are spending more time online now than ever before as well. That’s the reality of our current world, and it’s one your business can take advantage of, if you implement the right strategies.
If your business isn’t reliant on a storefront or in-person services, the pandemic may even have a beneficial impact on you.
Shopping malls are barren, but the internet has millions of potential customers at any given moment.
So, as a brand, if you adapt to this new reality, you still stand a good chance of thriving in it.
Adapt to Thrive In The New Economy
No matter the niche, every business is being given the same advice right now: move your business online. Whatever can be done virtually should be done that way.
For some industries, this requires much creativity. But even doctors are learning how to evaluate a patient’s symptoms via Zoom these days.
And you’ll need to be just as malleable with what you do.
While these challenges are difficult, it also is beneficial for smaller businesses as opposed to larger ones.
Huge companies that require office space and administrative staff obviously have more obstacles in their path than those that don’t.
So, in 2020, the on-going pandemic is giving the little guy more room to compete with the big guys.
And essentially, those with the best digital marketing strategy are sure to succeed, rather than only the large companies who can typically out-do small companies in terms of resources.
Paid Ads Are Still Cheaper, But Online Activity Is Up
Another way the pandemic is actually improving things in the digital marketing sphere is by making it more affordable for smaller businesses to compete for paid advertisements.
When the pandemic first hit, the cost to purchase advertisements online plummeted. In fact, many companies unsure of how the pandemic would impact their businesses pulled their advertising dollars out of the market.
In the months since the pandemic hit, many companies have put their money back in, and the cost for paid ads has risen, but it’s still below where it was pre-COVID-19.
This provides an opportunity for those with less capital to invest and compete at a level they couldn’t before.
However, you’ll still need good content for your ads to be successful.
Update Your Content For The New Normal
Whatever content you had developed before the pandemic needs to be updated to reflect the world we now live in. Content that was timely and relevant even 8 months ago is neither of those things now.
People can’t even relate with the versions of themselves, which existed in 2019, so you will have to update your content to ensure it is relevant to the world currently exists, not the one used to.
Ads, Blogs, videos, and anything else on your website or social media channels need to be updated to show potential customers or clients that you have adapted to the new reality. Failure to do this will give your competitors an advantage.
Running a business in 2020 might seem risky or scary, but depending on the type of business you’re involved in, it doesn’t have to be. This might actually be the best time for you and your business to grow.
Contact The Hobo Marketing Co. today to learn more about what we can do for you! Let’s build something together!