Published By: Admin
Posted On: 27 Mar 2020
Alongside, it has been the reason for the global stock markets to crash, which is directly proportional to loss in businesses for owners as well as the marketers. This pandemic has affected aspect of the industry be it big or small. Some have had positive impacts like companies supplying tissues, sanitizers, gloves, masks to name a few. But, the majority of them have faced a downfall in the industry. And because our Digital Marketing Agency has a lot of companies as our clients from various niches, we already are starting to see how the Covid-19 has been impacting the market from last few weeks.
During this situation, its demanded that people don’t see it a way to exploit the market and gain money out of unaccustomed ways like read in the news, people are trying to exploit fear among other individuals and due to which the supplies of basic products are running short all around the world. From masks, toilet papers, hand sanitizer and other basic necessities, marketers are buying them only to resell them on other e-commerce websites or by running ads to sell them for 10-50x the price. Not only is it wrong but a very momentary way to get the money flow. Rather, you could spend your time on something which is long term.
It is true that Businesses are going to struggle for a while, even if the virus slows down at the earliest. The struggle is going to be seen for at least a year to incur the losses they are facing today. According to The Economic Times, it is said that Corona virus outbreak could cost global economy up to USD 2 trillion.
You could take a glance at the travel industry; they are losing traffic and conversions and obviously losing their money. Now, looking from an SEO point of view, last week there was a huge drop in organic traffic for most industries specially the Food and Beverage industry, the Travel industry.
The e-commerce was an uncertain bag, majorly depending on what a particular site sold; traffic was either up or down. If they were selling baby products like wipes, diapers or cereals or they sold the basic necessities like the tissue papers, toilet rolls or they were on the healthcare side selling hand sanitizers or masks, they saw massive traffic driven towards their website whereas websites which sold luxury goods like TV, Watches, saw a drop in traffic.
Organic traffic is dropped down in almost all industries on a global perspective. But if you are a part of the news industry or financial space, your traffic dramatically shot up. As for media/news sites, they had their traffic sky rocketed and gained huge conversions because people didn’t want to miss out on Corona virus, political and financial information with the turmoil.
Big companies shut down their outlets around the world to help reduce the spread, even if it meant no sales, no income and no profit. This called for a shutdown for more tan two months all over the world. They are able to pay their employees during their temporary shutdown, but not all companies will be able to do the same. This had an impact not only on SME’s but also on MNC wherein they had to pay with no production. For example, according to Bloomberg, the virus caused retail sales in China to drop by 20.5% causing the unemployment down to 6.2 times in the month of February because of the lock-down. Furthermore, the sales continue to remain less, thus many MNC’s have cut down on the employment by 30%. Fewer companies also choose to make employees work in shift and pay them 50% salary.
When it came to Pay-per-click Ads, there were big drops in the number of people who searched for things like flights and hotels. Hence, there was a drastic drop in CPC which lead to big increase in cost per acquisition; that is you can still simply pay the same amount per click, but the cost per conversion has gone up for most industries. (Unless it’s the websites who are selling necessities like toilet papers, sanitizers and masks)
This only means that you will see business owners taking a step back because the economy is predicted be hit by 2 trillion dollars and there could be recession causing a huge downfall in the market.
However, if you are capable of reading the unsaid words here, it says that this is the best time to take risks by doubling your bet since others are not. And if the market keeps going down, many of them will struggle to pay off their debt and will either go bankrupt, get sold out, or get worn out by the government which again means less competition for you.
During an economic drop-off, you will have less competitors, making it easy and hasty to get results, and in some cases, you might experience the best deals; here it could be a probable cutback in pay-per-click advertising and if you are lucky enough to have some cash with you during the recession, it is the best time to invest in marketing for your product or service. This pandemic also helps people to put their product online. Since even after the end of this temporary closure, customers wouldn’t prefer to go to the store and purchase but would rather buy it online, unless it is essential. Therefore this gives an opportunity to those business that aren’t doing it online and are only relying on their physical store.
it’s the right time to focus on digital marketing services in Hyderabad. This will help increase the digital presence of your business. Along with stores, places like gyms, hotels, dance classes, yoga classes etc, are also suffering. Since many have shut down, a few of them are trying to work through online classes with their regular customers.
The more eyeballs you attract, the more power you will hold in the future. Businesses are looking for ways to adapt this new change in their business and recover from the future threats. They are also analyzing ways and opportunities to grow their business. Social media marketing services in Hyderabad is one of the ways to grow. You may not see the best return right away, but during the long term, you will be able to understand its importance. As we recover from the recession, you’ll see your revenue mount up and the ROI from your marketing spend expand unimaginably. In other words, in terms of business it is best to have limited capacity working in the factories or companies to keep everyone safe and also have work in progress. Slowly and steadily the market will come to its standard position but with time.
This recession/pandemic time has hit many people really bad and hopefully with time in the future most of the people will try to overcome this recession and pandemic.
Hopefully, the Corona virus passes soon and it has minimal impact on our lives. Till the time being, it’s best not socializing with others, avoiding entering the crowded places and maintaining Social Distance. And as per your marketing is concerned, this is the time to become more tenacious and invest for bigger future returns. Cut the fear within when others are also distressed.