The COVID-19 outbreak threw many industries into a state of disarray. Since the very beginning of the pandemic, stock markets were falling apart, production units were locked, “Work from home” or “Study from Home” became the new normal, and the support system of our lives, medical institutions and hospitals got severely affected too!
The pandemic not only brought the world economy to its knees but also forced many businesses to shut down their operations forever.
We all adjusted ourselves to survive this wrenching pandemic; in fact, we are still trying our best to cope up with the damage that was already done. During the time, when people are buying less, working from home, and saving money, Digital Marketers are working their best to implement an innovation-driven approach in digital marketing strategies.
A good Digital Marketer always stays at the top of new trends and continuously reviews changing consumer behavior to promote impact-specific strategies. During the pandemic, consumer behavior positively shifted from offline to online. Whether it is e-consultation or e-shopping, consumers preferred to stay back at their homes and gravitate towards social media. Due to this, the usage of prominent social media platforms like Facebook (+18%), TikTok (+20%), Instagram (+20%), and WhatsApp (+17%), etc. witnessed spikes in the number of sessions per week. Not only this, but consumers from the age bracket of 35 to 44 years increased their internet consumption by 11% while people belonging to the age group between 23 to 38 observed an average increase of 5-7%. This shows that the companies that preferred a combative thought and a leadership approach in publishing pandemic-specific content saw traffic climbing, even during the pandemic.
Now, talking specifically about the advertising landscape of Digital Marketing, there has been a steady decline in average CPM & CPC rates over the COVID-19 period. This decline provided an opportunity for many small to medium advertisers to buy impressions at a lower price point. But, according to the survey held by the World Federation of Advertisers, 81% of the significant multinational marketing firms deferred the activation of planned campaigns. Not only this, but 34% preferred pausing the campaign for one-to-two-months, 28% preferred pausing until the full quarter, and 13% chose to wait for six or more months. This concludes that the reputed brands found low cost on advertising too risky for their image, whereas others preferred to opt for a cost-effective opportunity to reach larger audiences.
So, with a sudden shift in the preferences and lifestyle of the consumers, Digital Marketing is notably focusing on acclimatizing to today’s trends but is still contemplating on how successful digital marketing strategies can prove. There is a scarcity of positive impacts of the pandemic; however, a significant portion is rapidly adjusting to the new reality imposed on them. From work to amusement, education to social interactions, everything is actively shifting online, as offline alternatives are not preferred by people anymore. The COVID-19 crisis may seem like a significant threat to businesses and jobs, but there is always a ray of hope in every aspect of our life.
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