Digital Marketing Thrives Despite a Bleak Outlook

for Global Economic Growth

 

Many business segments globally have been reeling from the effects of the Corona pandemic. Revenue losses, limited or no operations, employment downsizing, cancellation or postponement of expansion plans and so on are the fallout of the marauding pandemic which has debilitated economies both in developing and developed countries.        

However, amidst such bleak eventualities, there have been some silver linings that cast out the apprehensions of a total recession. The digital marketing industry is one realm that has turned challenges into opportunities when the pandemic stifled business activities the world over. The success of online platforms like Google, Amazon, and Facebook revolutionized the concept of shopping. Social media platforms have provided more outlets for digital marketing strategies enabling B2B and B2C companies to promote their products and services on electronic devices before their targeted audience groups in a more direct, focussed manner. As a matter of interest, the companies mentioned afore are the ones that have rallied past the anxieties of the Corona-caused economic crisis.

Let us look at why digital marketing solutions are becoming more and more relevant in the face of a looming global dilemma.

Most physical activities like fairs, flea markets, stock clearance or discount sales, conferences, workshops, and trade exhibitions scheduled in the second quarter of 2020 and afterward were canceled due to the lockdown which became a global imperative in the wake of the pandemic. But, businesses needed to continue building their brands as part of their efforts to generate some sort of decent sales.

Consumers too found it difficult and risky to venture out even to the neighborhood stores to buy products they needed. Confined to the interiors of their houses, they began to increasingly search online shopping portals for products that they traditionally bought in stores. This ultimately gave online retailers better returns on their online ads, boosting online marketing expenditures. Online shopping portals which were doing good business even before the lockdown now became the “go-to place” for shoppers from various walks of life.  

Companies that do not sell their products on e-commerce platforms also have been increasingly depending on digital marketing channels as a reliable tool for business promotions. Implementation of robust digital marketing strategies has been channeling traffic to their websites or social media pages, ensuring target audience engagement and conversion of leads to sales.

Digital marketing expenditures have considerably gone up over the years; despite marketing budget constraints due to the COVID-19 pandemic, digital marketing continues to hold sway in the business world.

Let us also, look into how companies coped with the ramifications of the pandemic.

Empathic Communication

The pandemic has brought large miseries to numerous businesses, individuals and communities. Empathizing with them, several brands have responded in a very positive manner. These brands’ owners have used their businesses for humanitarian purposes seeking to mitigate the multidimensional complexities caused by the onslaught of Covid-19. 

Some clothing manufacturers promptly responded  to the situation by making and distributing masks to the masses, while certain distilleries channelized their entire operations to manufacturing hand sanitizer to bridge the gap between the pandemic-triggered huge demand for the commodity and its consequential scarce availability. Some other companies began manufacturing protective gear for health workers, while yet some pitched in by making their products available for supporting medical research and fastening the pace of vaccine development. There are companies that have helped small local businesses by cutting down or waiving off the franchise charges or rents.

Coming to the digital front, many brands used social media to provide free tutorials, free trials, or engaging and entertaining content to liven up the bored and tensed existence of people shut inside  their homes (and also that of those quarantined inside houses, hospitals and other places).

These initiatives have, to a large extent, spread positivity while helping consumers connect more closely with brands; authentic, engaging, and creative messages have played a crucial part in generating brand awareness.  

Updated  Content

Ad films showing crowded restaurants, concerts, markets and public transport systems, and, for that matter, visuals of lovers, relatives or friends hugging each other don’t work that well in a world where our behavior and outlooks have been altered to resist the contagion to whatever extent possible. In accordance with such lifestyle changes, brands have revised their messages ensuring that consumers find relevance in the content and the context. Digital Marketing Academy of Canada (DMAC) has given two excellent examples of intelligent content revisions. 

• KFC: Prior to the outbreak of COVID-19, the renowned fast-food chain aired ads featuring people dining on their chicken and finishing their meal by licking their fingers clean. These were pulled off the web, and replaced with ads that identified more closely with the current reality of hyper-handwashing and social distancing.  
• Travel Companies: Against the backdrop of the closing of many international borders and travel being restricted to essential workers and industries, several smart travel brands have begun increased creation of content, including travel blogs, influencer marketing and photo contests, and building of a wider social media presence to enhance brand awareness during the period of stupor. This example also reminds brand owners that one should persist with marketing campaigns even when the demand for one’s product/s hits the nadir; because, building and sustaining brand relationship with stakeholders is ideally a constant concern.

Experiential Marketing 

The dearth of physical events or opportunities to interact with the customer during the COVID-19 crisis has turned the spotlight on experiential marketing as an effort to tap into the need for customer-curated experiences. Brands have taken recourse to digital events and been compelled to adopt innovative strategies to retain visibility among customers. When one has to keep the customer glued to the screen of a mobile phone, tablet, laptop or desktop, it becomes a tough challenge to build and maintain brand awareness.  Experiential marketing through a website, landing page, or webinar can be an ideal response to this challenge.  

Should experiential marketing be productive, the experiences should be multifaceted, highly personalized, and controlled by the customer. It calls for an enhanced focus on customer experiences. Some of the numerous innovative methods adopted by brands to deliver personalized experiences for their customers are: 

• Augmented and Virtual Reality: Already supported by most Apple and Android devices, companies can create ways for the customer to explore from the comfort of their own homes their product or space.  
• Gamification: Companies put the customer in the driver's seat and give them the opportunity to interact with the products or community in a fun, engaging way.  
• Multi-sensory Experiences: Leveraging technology can create countless ways for product exposure. Brands are now using combinations of experiential marketing tools to facilitate customer engagement on multiple levels and platforms.  

Analyzing the current trends can help formulate experiential marketing strategies delivering the best results. For example, according to statistics, over 80% of users prefer brand videos to written content such as blogs or text-centric social media updates. Webinars and webcasts are becoming much more popular nowadays.

Paid Advertising 

When the pandemic crisis set in, marketers were keenly observing how prices for paid advertising were collapsing. As many small businesses were withdrawing their advertising campaigns due to restrained economic activities, low demand led to a dramatic decrease in cost per click (CPC). The fact that people who were confined to their homes during the lockdown depended more than ever before on their computers and phones (for entertainment, information and, more importantly, connecting with others) led to an enormous increase in  traffic and search volume; hence, advertisers who went for the cheap CPC ultimately benefited from a much higher return on investment (ROI) than prior to the stalemate.  

Businesses are now slowly waking up from the lockdown-induced slumber and the advertising industry is hoping to regain the lost momentum. While we can assume that PPC (pay-per-click) advertising likely won’t slow down forever, CPC still remains a cost-effective option. However, PPC is the most attractive marketing strategy, considering that it is an incredibly affordable and ideal means to gain traffic, brand exposure, and sales. 

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Digital marketing has undoubtedly played a redeeming role when industries across segments became caught up in the pandemic turbulence. It has helped businesses innovate and survive the repercussions of an unforeseen, colossal crisis. While the world is bracing up to face a largely uncertain future, the digital marketing trends discussed above and other emerging digital solutions will help companies and brands build and maintain a fruitful relationship with their customers.