Right now, we’re in the midst of a global pandemic. Most everyone is confined to their homes, as governments attempt to halt the Coronavirus in its tracks. What that means is that markets have been turned on their heads.
Many businesses will now become increasingly more reliant on their digital strategy than any other outreach. And how well they do this could potentially seal their brand’s fate in the months to come.
After all, right now there are no live events, conferences, or even face-to-face business prospects. Everything has to be online, and companies have to learn how to adapt, fast. This is particularly true of B2B companies that tend to rely on conventions, trade shows, ad gatherings in order to network and generate leads. And in industries that aren’t digital focused, they may be at an even further disadvantage with this quarantine.
Overall, companies both large and small are going to have to explore their campaigns online, on social media, in digital content, and more.
As Scott Jones, CEO of 123 Internet Group says, “We are in uncertain times, but with the increase of remote working and a collaborative approach, companies are turning to digital channels and embracing the transformation. We have seen a real spike during the last few weeks from companies wishing to create or update websites, launch new e-commerce channels and create social media campaigns focused on home-workers and a real focus on using influencers and SEO to reach new audiences.”
This could b a blessing too however. With a work from home setup meaning less time spent commuting to and from the office or events, marketers have more time on their hands to develop digital strategies. This means pinpointing where you customers are online and the various tactics you could use to reach them. It also means revamping your token digital efforts by sprucing up your company’s webpage or social handle.
Ratnesh Singh, head of global business at events technology agency Buzznation says, “With our corporate clients, events often consume 50 to 60 per cent of their marketing budgets. They still want to spend that money and they are open to trying something new. There’s a window of opportunity here – when things are back to normal budgets will be going back into live events and that’s what they will be spending their time on. But if they see the benefits and opportunities that digital channels can offer, this will become part of their long-term marketing contingency plans.”
If a company uses this critical time to re-evaluate and tackle their digital strategies once more, it could well develop from an emergency filler to a year-round effort that reaps rewards. Fail to adapt though, and it could spell the company’s doom in just a few short months.
For the full article, visit Forbes