A lot of industries experienced a drop in sales and financial performance when the coronavirus pandemic paralyzed countries and their economies. The sudden drop in revenue streams has led many businesses to close, retrench operations, lay off employees, and absorb net losses due to lockdowns and government regulations.
However, amid the pandemic’s chaos to most businesses, it opened new channels and opportunities that were never fully observed prior to the viral outbreak. Although traditional methods and business strategies have been somewhat limited by the current situation, companies can weather the setbacks if they are willing to take on a different approach.
Thus, here are three marketing hacks that companies can use to stimulate business growth amid the fears and limitations brought by the pandemic.
Boost Online Presence
Some companies may have relied on old-school, established advertising methods, such as using print media (e.g., flyers, brochures), to make themselves known. Due to quarantine measures and physical-distancing requirements, companies cannot convert the aforementioned advertising techniques to sales.
With most of the public staying at home, there is no way for companies to generate revenue if most of their consumers choose to stay indoors to avoid contracting the virus. The only way companies can reach out to their customers and generate income is through online selling.
According to PWC’s Global Consumer Insights Survey 2020, 50 percent out of the 4,447 respondents said they’d used social media more during the COVID-19 outbreak. Thus, companies can use this increase in social media usage to establish their online presence.
Here are some ways to boost online presence during a pandemic:
If most of the public is online, where are your customers? Are they on Facebook, Twitter, or Instagram? Knowing where your customers stay is key to accessing them faster and easier.
Prior to the pandemic, social media marketers posted ads from 6:00 p.m. to 10:00 p.m. because social media traffic increases around this time slot. But that may not be true anymore. During the pandemic, social media traffic has been high at all times of the day from Monday to Friday, with peak hours at around 10:00 a.m. to 11:00 a.m.
Thus, posting at peak hours can boost online presence and product awareness. To read more about changes in social media traffic due to COVID-19, check out this article.
When boosting online presence, the company must plan all the posts carefully. The planning includes the number of posts per day, posting interval, content creativity, content type, and conversion potential.
Paid advertisements can also be used to increase brand awareness and reach. Neil Patel writes in his blog that the ROI of paid ads increased by 71 percent during the pandemic. The usual ROI for his clients is normally at 31 percent.
Utilize Social Media Influence
When the outbreak started, social media influencers gained more supporters and subscribers. As the public learned how to access entertainment other than through TV, YouTubers and celebrities gained a large fan base.
Companies can utilize social media influence to promote their brand. For example, businesses that sell fashion goods can hire fashion influencers to try out their products. These influencers will then create content to highlight the products of the business.
The Global Consumer Insights Survey 2020 reports that there will be a robust digital engagement during the pandemic. The survey found out that online grocery shopping increased to 68 percent during the pandemic. However, it was only 9 percent before the pandemic.
Moreover, a stunning 86 percent of the respondents said they’d continue shopping online even if social-distancing measures were eased. Thus, these statistics only show that digitalization is another crucial factor for business growth.
Why? PWC’s survey also found out that the consumers’ priority shifted to physical well-being and medical needs. Meaning, consumers are placing more concern on their health.
And in effect, they’d instead choose online shopping than expose themselves to the virus when going to supermarkets and malls. In effect, selling products online has become more viable than the traditional store setup is.
Therefore, companies must use this observation of consumer behavior to offer online-purchase options to their customers. They may also partner with online delivery platforms like DoorDash and UberEats. This way, companies can still serve their customers.
In times of crisis, businesses must learn to adapt. However, companies must learn to grow and develop even without the restraints set by the pandemic. Improving products and services is a continual process.
It doesn’t come across as a surprise that companies that have been using digital marketing even before the pandemic happened, are enjoying the rewards of their investment. But that doesn’t also mean that it’s too late to start now. The pandemic is far from over, and companies can still innovate to keep their business afloat.