Since its conception digital marketing has evolved rapidly and been turbulent. What might be topical one month may not work the next month or even next week. It can be hard to time the digital marketing right, but it is the future. COVID-19 has had an impact on the world economy. This will have ripple effects that will affect digital marketing over the next few decades.
While it may seem extreme to say “resistance will not work”, it is actually true. Businesses need to embrace digital marketing and abandon old methods if they want to continue to thrive. However, it is important to understand the nature of these changes.
This is where Improvado can help. Improvado is a digital marketing company that studies every trend in a closely. Today, we are going to share some insights with you. You can read on to find out more about the changes happening in the digital market industry, how they have affected organizations and what you can do to adjust your marketing.
The State of Digital Marketing – Pre-COVID
Before the COVID-19 pandemic utterly changed the state of 2020 in an enormous way, prominent digital marketing trends were obvious: video marketing (influencer marketing), engagement-based email market, and micro-moments.
It was obvious that digital marketing was changing in order to keep up the pace of new technologies. AI solutions are integrated into the market, for example. Also, it was addressed changing consumer preferences, such as personalized, relevant and ad-supported content.
The Shift of a COVID world: Online Engagement
COVID made it possible to move faster towards a digital world even though we were already on the way. People found themselves suddenly isolated at home, which meant that they were spending more time online. There are many ways we now spend our time online, and they are diverse. These are just a few examples of hundreds of different areas consumers interact with online.
This shift in consumer behavior can also be seen by businesses. They are changing their strategy and reallocating their budgets to tackle new challenges. Here are some concrete strategies that companies can use to adapt to changes in the market.
1. Social Media Acceleration
The trend of “unplugging”, where users of social media claim they are “taking some time off” from Facebook, Instagram or Twitter has been growing over the past few decades. Social media started to have a bad reputation for encouraging jealousy and oversharing. However, with the pandemic-induced lockdown consumers turned to Facebook and other social media platforms to stay in touch. People were able to forget about the chaos of the world by enjoying the entertainment aspect.
Global Web Index’s study found that 43% said they spend more time on social networks because of the pandemic. Surprisingly, 22% of respondents said they plan to continue using social networks even after COVID-19 ends. It is clear that the pandemic prompted the evolution and diversification in social media usage by the average consumer – this can be leveraged to digital marketing.
It is important to remember that different social media platforms may have different policies and guidelines regarding COVID-19. TikTok’s trending moments have revolved around the pandemic.
Nearly 2400 videos are made with “COVID19” as the background music. It shows essential workers getting ready to work in dangerous environments. TikTok can be used to transmit public health messages and allow health workers to post videos.
Facebook, however, is more stringent about what COVID-19-related content is allowed to go public. Advertisements for sanitizer or masks, as well as ads that include the virus, have been removed. Make sure you do your research before publishing any COVID-19-related ads on any social media platform. Check the platform’s policy before publishing an ad.
Digital events have grown by an incredible 1,000%. This can be directly correlated with COVID-19. Zoom meetings, webinars, and online conferences offer marketers great opportunities to market their services, present innovative products, and take part in professional collaborative experiences.
Host a virtual event to increase exposure for your brand, convert people to customers and grow your business. A variety of options are available, including publishing a video or hosting a Facebook session with an expert speaker.
Digital events can be attended at a consumer’s convenience. They also facilitate safety during COVID-19. We predict that this trend will continue long after the pandemic has passed. Virtual events are much more convenient, affordable, and practical than hosting in-person events.
3. Transparency and Personalization
Social media users place more importance on brands’ ideals than ever. Take a look at “cancelculture”, the rise of which is proof. If a company posts social media content that is not inclusive, uses gendered terminology, or contains material that could potentially be considered offensive to a minority group, thousands upon thousands may call for a boycott. It’s not enough just to avoid being offensive.
Consumers expect companies will make statements about how they support social movements such #BLM, #MeToo.
This does not mean that a brand’s social channels should only be about being “woke.” People love to hear from their employees and enjoy humor. Your digital presence should be humanizing to gain customer loyalty.
4. Multi-Channel marketing
Multi-channel or omnichannel marketing is a viable and highly effective marketing tactic. By leveraging this, you can maximize the return on your marketing budget by expanding your reach across multiple ad platforms.
Multi-channel investment allows you to choose from a range of strategies and platforms.
– Social media Marketing
– Direct Marketing
– Mobile advertising
– Endorsements or sponsorships
Many more! 70% of consumers use more than one channel, so diversifying your marketing content can be a great idea. It doesn’t necessarily have to be difficult. It is easy to think smart. Take material from your blog or case study to create ad content and social posts.
5. Shift from long-term marketing to short-term
The current state of the global economy means that companies must adapt to change their marketing strategies in order to survive. Customers are facing many challenges with the shift towards remote work, higher unemployment rates, and an uncertain environment. Digital marketing must be adjusted to address these issues. Consider what your target audience needs and wants over this period.
The influx in remote employees may have a short-term impact on your analytics metrics. Their inboxes will likely be fuller than ever of work-related memos, so your emails may suffer from low engagement. Make sure you are keeping an eye on your digital marketing campaigns and aim to manage them daily so that you can react quickly to changes in engagement.
Which Industries have been most affected?
– Public transportation. Many countries have stopped recommending public transport for residents except for the most essential journeys. Thus, the minibus, coach, and bus companies have been in financial trouble.
– Ride-sharing and taxi firms. Uber, Lyft, other ride-sharing platforms (plus taxi companies), have seen a decline in ridership. Uber, Lyft and other ride-sharing companies are running out of cash. This is due to the financial support they have to give drivers who have been exposed by COVID.
– Charities. This is not surprising as charities are in great demand. While the need for charity services has increased, the volunteer workforce is in decline.
– Farming. This may seem like another unanticipated hit, but the reality is that farmers are struggling to sell their entire product line due to closing of shops. The Dairy Farmers of America organization stated that US farmers collectively threw out 3.7 million gallons of Milk daily during the worst of pandemic.
Automobile industry. The pandemic impacted automakers because of three factors. These were the closing of factories and dealerships, disruptions to supply chains, and a sharp decrease in consumer demand. This is the worst year in American history for car sales.
– Oil & gas The current price of crude oil at the time this is written is $49.18 a barrel. It is lower than what it was during the heights of the pandemic (18/barrel in March), but still far less than at the beginning 2020. Experts predict that oil prices won’t recover fully until 2022. It is still possible that electric cars will make it impossible for them to recover.
In order to grow their customer base, corporations are enhancing and updating their marketing strategies due to the negative effects COVID-19 has had on many industries. The future can be brightened by digital marketing that is steady and well-planned.
How to Choose the Best Advertising Channels for Your Niche
The key to selecting the right advertising channels for you brand is strategically building a web and messaging that allows your target audience seamlessly follow your brand wherever they are. Point #5 briefly mentioned a few of the most popular advertising channels. Here’s how to find out which avenues are best for you.
Be aware of your budget. You need to determine how much money you can spend on marketing. Working with precise numbers will allow you to prioritize channels that have the highest ROI.
Ensure your ads contain substance. While spending a lot of money does not guarantee great results, using good branding and quick writing will certainly help.
– Get to know your brand and value proposition. Companies will be able to communicate their true identity by doing so.
Know your audience. This is more than knowing what they look like or where they shop. Also, you must pay attention to their values so that your messaging is appropriate.
– Look into the advertising of your competitors. This might lead you into unexpected channels that can deliver great ROI.
– Above all, be realistic in setting goals and measuring them regularly. This is the best method to refine your marketing strategy.
The key takeaway: Measure Ad campaign metrics and make data-driven changes
Measurement of your ad campaigns metrics is a prerequisite for data-driven advertising. Improvado is the ideal tool for analysing the results of your marketing campaigns if you’re a brand or enterprise company. Our software compiles all of your marketing data, from more than 200+ connectors into one single solution. Improvado normalizes, cleans, and normalizes all your marketing data. It then loads the data into any visualization tool you prefer, so that you can quickly see marketing trends.
COVID-19 may have had an adverse impact on businesses around the globe, but we can directly affect how long they last. An excellent, data-driven strategy for marketing can help you get on your feet faster. Ask for a demo now to discover how Improvado will revolutionize digital marketing for your brand.