Since the COVID-19 outbreak, businesses have become more reliant on their digital strategies. The level of online engagement and visibility are the new deciding factors whether they can make it through these uncertain times. Even so, the almost total disappearance of advertising channels, live events, and face-to-face business has posed a serious challenge.
The ever-increasing physical barriers have largely affected B2B companies relying on exhibitions and trade shows to establish network and customer relations. Industries that are technically challenged are struggling with their customer relations and digital growth strategies. Meanwhile, smaller businesses are in a state of shock, especially those that rely on word-of-mouth referrals to build their reputation.
SEO specialists and digital marketing agencies are the new lifelines for companies that need an iron-clad online marketing campaign. These experts are helping entrepreneurs move into content marketing, social marketing, SEO-optimized websites, influencer-led campaigns, and other ways to gain a widespread online reach.
As consumers move into the digital realm, it’s high time that non-digital native entrepreneurs recognize the power of digital marketing in the success of their business. In this article, we’ll discuss why digital marketing can be your best defense in these times of crisis. Get to know the significant role of digital marketing in protecting your best interests amid economic uncertainty.
Resilience for a new economy
For many, the pandemic has been quite brutal to almost all industries, especially to startups and small businesses. International trade became nearly impossible in 2020 and job shortages around the world have restricted consumer spending. For this reason, the economic challenges of 2020 have delivered short-term impacts compared to the global financial crisis from 2007 to 2009. But despite the widespread fallout of many industries amid a pandemic, the global economy immediately bounced back at rates we’ve never imagined.
So what’s the reason why industries have recovered rapidly from what was supposed to be a global economic shutdown? The short answer to this is that modern businesses have become more flexible in adapting to the new reality, with digitization as the key player in their growing development and adaptability. With more entrepreneurs utilizing digital channels and resources, businesses worldwide can easily adapt the best business models, accommodate their consumer base, and adopt digital processes in an improved and modern way.
The development and continuous utilization of digital channels have played a significant role in reshaping global industry practices. Businesses that focused on their online reach amid a pandemic gained a stronger head start to thrive in the new economy, which demands that industries be adaptable, digitized, and multichannel.
Builds brand reputability and recognition
The most disconcerting factor of an economic crisis is the unpredictability of the global climate, which leads to jarring effects for businesses and consumers. But despite the unstable economic climate, people appreciate the familiarity of the world around them.
Prominent global brands turn to social media to help consumers experience a sense of normalcy amid a pandemic. Their campaigns didn’t center on the challenges of the pandemic, but they played with the idea of the current situation, resulting in feelings of global belongingness. As people remained isolated in their homes, they turn to the internet for comfort, and seeing relevant content let them know organizations are still with them in this global battle against COVID-19.
Email marketing as a tool for customer retention
The biggest mistake you can do during an economic crisis is to neglect clients or customers who have been loyal to you from the start. The pandemic presents an opportunity to boost those connections with the existing consumer base, potential customers or clients, and the wider community.
Among all the digital marketing tools out there, email marketing is the most powerful tool to take your business to the next level. It allows you to distribute emails containing personalized messages to consumers who previously transacted with you and registered on your mailing list. These are the people who want to stay involved with your businesses amid these uncertain times. If the email content is relevant to the current climate, you increase your chances to encourage positive acceptance from your consumers. When done correctly, this will help your business experience higher conversion rates.
Another great appeal of email marketing is it doesn’t require a massive budget, making it a cost-effective solution that will turn your conversions into a vital addition to your sales in these tough times. All you need is a well-established subscriber list and interactive content.
As long as entrepreneurs take advantage of digital marketing, all these will provide long-term value in their business and a stronger foothold until the economy returns to normal. But it’s also important to recognize which strategies will open opportunities and provide significant contributions to their brand. At the same time, it will make businesses more resilient to handle future global crises.