Coronavirus, making the best of a bad situation

15 March 2020

Coronavirus is obviously the hot topic in the media internationally at the moment and this has led a lot of marketing heads to discuss the impact it will have on digital marketing going forward. There are a lot of varying opinions, but the majority seem to be highlighting the negative impact this situation could have for marketers, but when you really dig deep into the topic, there are plenty of positives that come from this for online businesses and the way they improve traffic and conversions.

Supply shortage

If the toilet paper situation isn’t a good enough example of this, then you aren’t seeing the big picture. With customers flocking to supermarkets to grab any toilet paper they can get their hands on, this has opened up the floodgates for people to sell toilet paper products online. Similarly, other products are having the same demand online which is leading to significant growth in sales and revenue. 

With more people looking to stay indoors and not wanting to venture out to large groups of people, there will be a higher demand on having products shipped to their homes and this will have a positive impact on ecommerce websites. Even in a stage of uncertainty, people will still be shopping and online may be the easiest path for them to do so.

Rethink Your Approach

In times of doubt, it is often a great opportunity to reassess some of the most important parts of your business like your objectives, your position in the market and your ongoing digital strategy. It is important to communicate what it is your business is trying to achieve during rough times, both internally and externally to your customers and this could be the right time to do so.

With so many questions up in the air, the most important thing is gaining focus and a streamlined approach to all things business, which can often be less of a priority during the day to day grind. This time could be dedicated to running a split test that you’ve been meaning to do for months or redesigning your digital assets or even working on some new video creative that has been too difficult to schedule in. The timing might seem like a hassle, but if you can turn it into an advantageous time for you and your business, it might be one of the most productive periods you’ve had. 

New Way Of Thinking

Some of the earliest impacts COVID-19 has had is the shutting down of digital marketing conferences and events and although Australia hasn’t been hit too hard in this category, internationally thousands of events have been shut down within the last 2 weeks. This highlights a need for all things digital to be delivered differently and alternative solutions are starting to appear with an increase in digital networking and live video conferencing. The ability for staff and business owners to work remotely actually creates a level of flexibility that can lead to more efficiency and better work results.

Living in a time where video conferencing is easy, online project management tool options are overwhelming and the ability to effectively communicate whilst not having a traditional “office” set up makes it an exciting time for digital marketing and for people looking into new approaches to improving their business performance entirely.

Confronting Uncertainty

The major concern with the outbreak of COVID-19 is the level of uncertainty it encompasses and this type of situation will always bring out a level of panic in society, but with this comes a huge amount of opportunity and with smart business decisions, you could utilise these. Decisive action and clarity of your vision will be the key difference between thriving businesses and businesses looking to just survive in the short term.

Some markets are taking a hit and other markets are performing better than ever, so having a strategic approach to where and how you spend your marketing dollars, really identifying overall campaign performances and ensuring that your communication and messaging aligns with your business objectives will be the defining process of how your business handles the current state of digital marketing we are all experiencing.

The other opportunity when you're business is experiecing uncertainty is to take the time to plan. If you would like to discuss your digital marketing strategy and how to combat COVID-19, click here to book a strategy session with Digital Eagles. 

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