To date, we all are well aware of a deadly Pandemic – Covid-19 , also known as Coronavirus. And the most critical challenge we are facing is that this disease will stay among us for a while.
More than 10,000 Corona-affected cases are coming into the limelight every day and let’s not talk about the undetected ones. Who knows how many more to come in the near future.
Not just that, this fatal virus has caused a drastic downturn in economics and business , be it large-scale or small marketers.
In times like this, you have to work smartly to keep your customer base intact. Defeating the impacts of the virus, try to opt for strategies that can make you more visible to your targeted audience. Your focus should be on increasing the conversion rate.
Before we go in-depth on the impacts of Coronavirus and how to mitigate the risks , let’s check out what businesses must NOT do .
Don’t Abuse The Market For Your Own Profit
The most common thing that can be seen in the market is that businessmen are trying to make a profit out of this serious situation. Meaning, the supplies, such as masks, sanitizers, toilet papers, etc. are dwindling from the market. It is observed that marketers are stocking it up and reselling them on eCommerce websites at obscene prices.
We recommend you to stop misusing the pandemic outbreak for a few quick bucks. Instead, look out for more long-lasting measures that will help you to stay stable in the future.
Big Brands Are Also Responding To Coronavirus
Google and Facebook are also fighting back against people who are trying to spread fake rumours about Coronavirus. Any content on Youtube, claiming to have a cure for a deadly pandemic, is removed by Google , along with advertisements trying to capitalize on the virus. Similarly, Facebook is also blocking all the ads that are trying to make a profit by exploiting the Coronavirus situation. Moreover, Apple has closed many of its stores to help reduce the spread.
The Real Struggle Businesses Are Facing
Although the virus has slowed down its effects in China & Italy , the economy will struggle for a year or more to compensate for the losses. Unimaginably high, experts have estimated that Coronavirus will cost around 2.7 trillion dollars to the world economy as a whole.
Some bigshots like Apple, Starbucks, Burberry, Mcdonalds, and several others have shut down most of their stores as, according to the owners, they have no idea for how long the Corona situation will prevail. But not all brands have a huge account balance to pay their employees during the time of crises.
Take a glimpse at the travel businesses . It is calculated that the virus has caused them a considerable setback of around more than 800 billion dollars . Some of the companies even asked their employees to take two to three months of unpaid leave. We have seen this downfall in some of our renowned travelling projects. They have experienced discontinuity in providing their services as more people are likely to stay in their homes nowadays.
It goes without saying, the online businesses are also facing the flames of disruption as online marketers are losing their traffic and conversions .
From an SEO point of view, a massive drop in organic traffic is witnessed , be it any industry – agriculture, education, travel, healthcare, technology, and many more like these.
A mixed impact can be seen in eCommerce businesses , depending upon the products and services you are delivering. For example , if your business is about services regarding food or healthcare, etc. you can see a nice hike in traffic. But if you are selling luxury furniture or electronics, you can see a significant drop.
Consequently, offline businesses are shifting their services to online stores. Also, a considerable decline in brick-and-mortar shops can be seen, which accounts for 85% of the USA retail sales. Even these stores are focusing more on online shopping as people avoid going to crowded places.
Talking from the conversion rate viewpoint, the financial sector, which is known to always boom, has also dropped in conversions. In contrast, media and news channels are experiencing a blasting surge in conversion rate as now they are charging extra to show you exclusive news content – news especially related to Coronavirus and politics.
Sectors like travelling and luxury amenities are still facing a revenue hit even when they are offering huge discounts on their services.
The Measures You Can Take
While traffic in physical stores is declining day by day, businesses must take additional measures to keep their clients and employees notified. Many big brands have sent emails and text messages to their consumers about the growing concerns of Corona.
Industries are shifting themselves to online marketing so that their customer base remains intact. Businesses worldwide can take a helping hand from eMarketers to roll out ads of their products and services to reach as much audience as they can during this crunch time.
As people will spend more time at home, their social activeness will hit a boost. It is observed that around 55% of the USA youth is spending an hour on social media platforms per day, which was 47% in 2019 . So, this is a great opportunity for retailers to use social media as a means to advertise their business.
For eCommerce sites, to keep yourself in the loop of the marketing world, build strategies that the general public can’t say NO to. Online shopping stores can start with selling products on discounted rates.
As physical events are not adequate to conduct during this challenging time, business people should relocate their focus on virtual events – display your products and services in a virtual exhibition, get live with your audience on Youtube, etc.
Make Sure Your Website Is In Top Search Results
Coronavirus has tossed the economy upside down. In a time like this, when you spend most of your time at home, optimize your online presence.
It is needless to say that during scarcity, people search more . You have to be on top of the search engine results. With several companies temporarily closing down, it leaves a possibility for other businesses to reach a higher number of audiences.
See it this way. If you are not putting enough effort to stay on the first page, sooner or later, search engines might drop you off. Things will get worse when you are no longer able to pull any leads. So, it is necessary to take care of your business as a child to get more fruitful results. Be the best support of yourself and your clients.
Give More Content To Audience
As you are now working from home, you have an ample amount of time to work on your content. This is vital because as more shoppers and marketers are bound to stay in their houses, they can spend more time on reading. And if you are providing them with that, you have won the half battle.
You can update your old products and services with a brand new, optimized content . This practice will also help you to improve your ranking on search engines. Write content while targeting keywords and making quality backlinks. Repromote your services on social media and other authoritative sites.
Together with reading, people also like to surf visuals and audio. So, make sure of creating video content and podcasts – two of the brilliant ways to fetch longtail keywords . Start trying new things and experiment with the possibilities.
We wish Covid-19 passes soon, and we all get back to our routine. Until then, avoid going to social gatherings and crowded places. Stay updated with how businesses must positively respond to this fatal virus .
As there is no one-size-fits-all solution to the digital marketin g world, you must have to be extra to stand out among your competitors during this critical phase. Nobody knows when the Coronavirus situation will go away, you have plenty of time to spread your creative wings and present yourself to the audience in a unique way.