In the coming months, businesses will have to depend on and focus on digital marketing initiatives to withstand the raging Coronavirus pandemic. And this is why.
Over the last few months, several tech companies have had to suspend their events because of the current pandemic.
In addition to SXSW, other canceled events include The Cannes Film Festival, New Orleans Jazz and Heritage Festival, and the Facebook developer conference. There is also a postponement of games in major sports and the Tokyo 2020 Olympic Games.
Cancelation of these conferences and events could potentially cost millions of dollars. According to estimates, the direct economic loss of these canceled activities has now reached beyond $1 billion.
The COVID-19 pandemic is particularly challenging for smaller businesses that rely on word-of-mouth recommendations to get new customers.
Luckily, businesses can still withstand this difficult period.
But, to do so, businesses need to concentrate on developing their digital marketing tactics. These strategies include social media marketing, influencer campaigns, content marketing, and SEO.
Here are the reasons why.
Reasons Companies Need to Switch to Digital Marketing to Survive COVID-19
Here’s why businesses should consider digital marketing should during this time.
1. Your Potential Clients Are Staying Inside
If your company includes going out to meet customers face-to-face, you know it’s time to adapt.
In the coming months, your prospective client will be less inclined to let you go home or even shake your hands. Also, no one knows accurately how long the social-distancing will last or if it could lead to a long-term change.
2. Your Competitors Are Doing It
As more marketers are restricted to their offices or residences, they now have the time to develop their digital strategies. Reports indicate a surge in digital marketing efforts among companies over the last few weeks.
Although some businesses are trying to launch a new e- platform, others are trying to use SEO and influencer marketing to target new markets.
3. Opportunity for Creating an Effective Digital Marketing Plan
Marketing events offer business networking opportunities. So, it’s not shocking that businesses are concerned about losing such a chance of engaging directly with customers.
There is, however, a window of opportunity to develop a more robust online marketing strategy. For example, businesses with a modest budget can create a full experience using teleconferencing.
That way, you will have greater control of your online networks when the pandemic is eventually over. Better still, it will be part of the long-term marketing contingency strategy.