With the unabated spread of the pandemic COVID-19 globally, world leaders and business leaders alike, have forecast a long term financial after-effect due to the crisis. Experts in India say that industry sectors that depend on people's behavior would take the longest time to recover after the end of the lockdown period, while those curbed by the government to contain the spread of coronavirus are set for a bounce-back immediately after the restrictions are removed.
A recent report (Source: Dcode EFC Analysis), suggests some key industries which have been potential losers in wake of the pandemic viz; Travel & Tourism, Airlines, Automobiles, Construction & Real Estate, Manufacturing, Financial Sector, Education etc., while those which may be potential gainers are Personal & Healthcare, E-Commerce, ICT, Food Processing & Retail, Medical Supply & Services etc.
Irrespective of the type of industry, whether loser or gainer, it is imperative for businesses to utilize the current crises as an opportunity to re-sharpen their axes and rework on their brand and product marketing strategies. In this scenario, brand marketers have a major role to play.
It is said that trying times help highlight gaps. Now is the time for businesses to move their efforts to online medium and dig potential opportunities in the business’s sales and marketing channels.
The key learning for marketers is speed – speed in recouping losses.
Digital Marketing can prove to be an elixir to affected businesses who are reconsidering their next move towards bouncing back into momentum. The major advantage of digital marketing, besides the fact that it does not require face-to-face interaction and thus in tandem with social distancing practices, is that it is quantifiable. Marketers can analyse which of their activities generate the highest quality leads and at what expense, in other words, they know the ROI.
Now is the time for business to bring their digital marketing strategies to the fore, which all this while was on the back burner. With consumers refraining from venturing out, billboards that would usually have been seen by thousands now stand beside empty streets. While on the other side, thanks to the lock down, so many more people are going online and for longer, the chances of seeing ads on social media or interacting with content marketing blogs are greater.
With the fact that post the lock down restrictions, economists expect the recovery to be gradual rather than a strong rebound. It is likely that for many, especially consumers who had resorted to using the internet more for shopping, gaming, keeping in touch and other activities will have become something of a habit, which will continue post the lock down.
With potential changes in consumer priorities, values and attitudes, as the world goes digital, marketers need to quickly update their marketing strategies for a post pandemic world.
MindWorx’s Digital Marketing services, helps businesses to be relevant in these challenging times by increasing visibility, consumer traffic, optimized revenues and build up brand equity while creating your online foot print.
At MindWorx, we offer a complete range of digital marketing services that assist in developing top most digital presence for your business, through its Search Engine Optimization (SEO), Pay-per-click (PPC) and Social Media Marketing (SMM) services.
Now is the right time to sharpen your axe by invest in your digital marketing initiatives, the elixir for survival in the post pandemic world.