Effects Of Corona Virus On Marketers
An aerial view of what COVID-19 means for Marketers. Let us know what you think in the comments below.
It’s no surprise that COVID-19 has taken the world by storm with more and more cases every day and making it harder for even the developed countries to keep one’s end up.
Ever since the virus hit, most sectors have been affected by equally bothersome problems, be it any working business or company.
COVID-19 has affected each sector differently, showcasing two sides of a coin. On one side, such a pandemic has been used to market and raise awareness and on the other side, it has proved to be unfortunate for some marketing strategies.
As a marketer, just like other sectors and workers, you feel deeply affected. There is a visible drop in demand for products often marketed by marketers or the consumption of data through marketers. It’s a hard hit, but to ensure an easier fair after the situation is in control, here are some don’ts for all the marketers out there.
1. Major businesses might see loss 2. Walk-in businesses will be more affected:
COVID-19 has and will have a lot of consequences on most of the consumer base of businesses, mainly because people would be spending more money on stocking up or for personal well being. Hence there will be a loss in them engaging with companies or marketers to buy anything.
Most of the world is quarantining in their homes with barely any contact or visits to walk-in businesses. This is resulting in a great loss for such businesses, especially the ones that have no online presence and depend on local visibility and buyers.
3. Online businesses will be stagnant
Also, considering how the quarantine time is increasing day by day, these businesses will be more affected than ever.
It has been recorded that there has been a decrease in online traffic for certain sectors due to less demand for that type of media/product.
4. Less competition
One of the worst-hit in the tourism sector which is now offering the cheapest prices for travel and tickets on their sites to cope up with all the losses they have suffered since COVID-19 came into existence.
Since people are cutting down their expenses on the purchase, companies are getting desperate to get into any business, so as to meet their bare minimum running requirements.
In such a situation, other businesses and marketers will witness something called a decline, wherein they perhaps will have a reduced business and the possibility of bankruptcy might go up the ladder.
5. The online exposure has dipped
This might work for some marketers since the possible competition will be less and you can promote yourself and your company in a harmless way to make sure you don’t reach the ultimate stage of decline.
Pretty sure even you expected online exposure to businesses and marketers to increase in a situation wherein everyone has more time and access to such content.
6. Get a grip on COVID content
But in reality, since a lot of people have cut down on buying, their need to look at such opportunities has also decreased, leading to a lesser need and demand from such marketers and adding on to the near reaching tail off for such establishments.
Ever since people have been in quarantine, they have been wanting to keep up with COVID related news, stats and developments.
This has seen an upsurge in news or blog marketers working in this department.
7. The exploitation of the situation
There has also been an increase in more sectors providing COVID related important content to keep that traffic coming on their sites apart from sharing rather necessary things.
A lot of marketers are using this situation as a marketing tool for all the wrong reasons. While the world is suffering from a crisis, some marketers have taken to the internet to sell necessities for a higher price knowing it’s an upturn in demand. This is quite an unethical way to extort profits and exploit a sensitive issue.
Hence, this is why as a marketer, no matter how bad you hit on losses, getting into a black business like this will only provide you with monetary gain but might have repercussions in the later future.
While COVID-19 has done some serious damage to many sectors, it’s a matter of pride to see everyone in quarantine, trying to make sure the situation gets better soon.
Every affected sector will need a great deal of time to get back to a stagnant or rather increasing growth graph.
As for marketers, it’s a hard time. More losses than ever are being witnessed, but please use this time to think for more future endeavors which might bring back your business on the right and a faster track to make up for all the lost sales.
This is a rough and hard time and if we all cooperate, we will get through this together. Meanwhile, here is another work from the home guide to help you manage the shift efficiently.
Picture Courtesy — Forbes
Till then please practice social distancing and help stop the spread of this pandemic.
Originally published at https://www.fuzia.com.