You may have noticed the sales and revenue of some industries plummet during the lockdown. A few sectors have seen an almost complete shutdown of business.
In such a scenario, marketing plays a critical role for many surviving businesses – especially digital marketing. Currently, the cost of traditional advertising, especially when there is no vision of the Return on Investment. Digital marketing helps you track your advertising rupees, paisa-by-paisa. And of course, what better time to market online than when most of the population is spending most of their time at home? In fact, a recent Google report has indicated as much – the Indian consumer feels the need to be ‘always on’ when at home.
2. L I Q V D A S I A
CONDUCTING BUSINESS FROM
HOME? GO DIGITAL!
3. INTRODUCTION
• You may have noticed the sales and revenue of some industries plummet during the
lockdown. A few sectors have seen an almost complete shutdown of business.
• In such a scenario, marketing plays a critical role for many surviving businesses –
especially digital marketing. Currently, the cost of traditional advertising, especially
when there is no vision of the Return on Investment. Digital marketing helps you track
your advertising rupees, paisa-by-paisa. And of course, what better time to market
online than when most of the population is spending most of their time at home? In
fact, a recent Google report has indicated as much – the Indian consumer feels the
need to be ‘always on’ when at home.
5. ADOPT A MULTI-CHANNEL APPROACH
• Adopt multi-channel approach and open your business to new audiences who may
have not heard/seen of your business before.
• Use PPC (pay-per-click) marketing to connect with their customers and gain a
competitive advantage.
• Facebook and Twitter represent more brand-advertising opportunities than Google.
Paid social on Instagram for example is also highly valuable for visual services and
products, or even small businesses or financial advisers that can offer their services
online – such as product information, investment advice, digital training, and a lot
more.
6. CREATE GOODWILL, AMPLIFY IT ON
DIGITAL
• What’s the best way to get people to notice your business? A kind deed, amplified
suitably on digital media, goes a long way in creating the goodwill your business
could use. Be it just changing the line of business (like how a few breweries around
the world have started manufacturing hand sanitizers) or conducting an online social
media drive or marathon to support Covid-19 warriors, people are looking for good
gestures in troubling times like these.
7. UPDATE YOUR ONLINE PRESENCE
• A lot of trade shows, exhibitions and events have been cancelled this year, for
obvious reasons. This has hit companies hard, especially B2B companies. Figures
released by data intelligence company PredictHQ, show that in February there was a
500% surge in cancellations and postponements of significant events.
• This puts a lot of pressure on your online presence to reflect the times. For instance,
if you offer consultations, you might have to shift entirely to online consultations.
8. IMPROVE YOUR WEBSITE SEO
• This follows naturally from the previous point – the best way to improve your online
presence is to make it more noticeable to your audience – or as they say in the age
of Google, more ‘searchable’. You want to be on the front page of the Google search,
somewhere in the top 5, so that when your customers search for certain keywords,
they end up contacting you. To climb to the top of the rankings takes time
and strategic search engine optimization.
9. READJUST YOUR DIGITAL MARKETING
BUDGET
• An important piece of advice – in a situation like this, do not panic and slash your
marketing budgets just because there’s an economic slowdown. Just readjust or
restructure it smartly. Cutting down on budgets might impact the brand in the long run
– we may not realise it now, but why wait for the future to see what its impact might
be?
10. While it is true that businesses are facing a
major impact over the global coronavirus
situation, it’s up to us to look at this as an
opportunity to create and implement a smart
digital marketing strategy that protects our
businesses – for the short term and long term.
And remember one thing – better days are
coming, for sure!
WORDS
OF
WISDOM