fbpx

Coronavirus Impact on Business and Digital Marketing6 min read

[lmt-post-modified-info]
Effect of coronavirus on business
Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on whatsapp
Share on email

Table of Contents

The onset of the Coronavirus disease (COVID-19) is definitely one that is growing exponentially and affecting lives and business across the world and it is one that we definitely should learn how to make most of this situation. So we have curated statistics on coronavirus effects on business, industries and digital marketing from around the world; as well as advice on how to make most of the covid-19 situation. Below are some of the trends and changes the covid-19 epidemic has cause globally. We sincerely hope you can learn from them; so let’s get started:

DECLINE IN PHYSICAL BUSINESS DEALS

People have been cutting back on luxuries, entertainment and leisure activities especially in regions where there have been reported outbreaks and spreads of covid-19. There has been reduction in the rates of travelling and at such, there have been reduction in investment in industries such travelling industry etc. Yimian also shows a substantial growth in the purchase of healthcare items such as surgical masks, hand sanitizers, vitamin tablets and disinfectants.

INCREASE IN ECOMMERCE, DIGITAL MARKETING AND BUSINESSES

According to Search Engine Journal, “online sales is undergoing an extreme change in buying trends. Demand for household items and medical supplies are spiking to an extraordinary degree. The change is so dramatic that Amazon is hiring 100,000 new workers in order to meet the demand.”  Amazon is not the only ecommerce benefiting from this, Ipsos MORI reported that in a lot of countries, ecommerce has been the go-to for most needs. This is also the time and period for core digital marketing plan and strategy as traditional marketing would surely experience a decline, so if you want to invest in digital marketing, now is the time. I also don’t have to tell you that digital and online based businesses wouldn’t get much affected by these drastic changes by the coronavirus (covid-19) which is why Fovero Digital Technologies doesn’t stand to be much affected by the covid-29 epidemic.

DECREASE IN AD SPENDING AND SEARCH ENGINE MARKETING

According to a report by Search Engine Land, Expert analyst Rob Sanderson from Loop Capital Market predicts that Google and Facebook’s ad revenue will be severely impacted by decrease in ad spend by travel brands. However, travel brands aren’t the only ones cutting their ads expenditures due to the impact of the covid-19 epidemic, as well as Google and Facebook aren’t the only ones being affected. Amazon have been reported to cut down ads on Google to virtually zero. Other industries who have been affected by changes in consumer behaviour since the global spread of the coronavirus have also been seen to reduce the amount spent in ads; which makes sense because who wants to spend more on something that would yield low ROI. Facebook for example would experience about 30-45% decrease in overall ad revenue.

INCREASE IN MOBILE APP DOWNLOADS

Apptopia, an app analytics company have experienced increased record number in daily downloads of apps since march in the United States. Though this is especially favouring towards grocery apps as Walmart’s app have seen a 160% growth in app downloads. Nevertheless, this is a great news for mobile app developers and app owners; now more people are ready to use your mobile app more than ever, if you don’t have one, get started here.

INCREASE IN USAGE/SUBSCRIPTIONS OF ONLINE PLATFORMS AND GAMING

As most people in most places around the world are advised to stay home temporarily or work remotely from home. Think about how many more people would turn to the internet and various online platforms to get by. In fact, Netflix’s YOY subscription growth in the United States and Canada alone are expected to reach more than double of previous estimates, as reported by NASDAQ.  In addition to data curated from SteamDB, the global PC gaming platform – Steam, attracted over 20.3 concurring users on Sunday 15th, March, 2020 which set a record for the highest number of users online at any time.

LIKELY DELAY IN CONVERSION RATE

Results from Econsultancy and Marketing Week’s COVID19 Business Impact Survey reveal that organizations project major changes in behaviour of their business customers in light of the Coronavirus pandemic. There have been delays in spending decisions which in turn delays conversion rate along the sales funnel. However, it should be noted that this mainly affects physical businesses. You have nothing much to worry about if you are into online or digital marketing.

HOW TO MAKE THE MOST OUT OF IT?

So now that you are all caught up, what do you do about covid-19? Do you just fold your arms and wait for things to get back to normal? Let’s take look at how to be on the winning side.

REPLAN YOUR MARKETING STRATEGY

Now that there are obvious changes and new trends in marketing, why don’t you take a step back and see how to can adopt a new marketing strategy? See how things are now in your industry/niche and see how you can be on the winning side. Don ‘t know where how to start? You can definitely get your marketing research, plan and strategy handled easily here. I definitely assure you that there is still so much more you can do to get what you need. So get started now!

SWITCH TO DIGITAL MARKETING

Based on the data that have been gathered and the reports above on the impact of the coronavirus and the covid-19 epidemic, this is the best time to start investing in some hard-core digital marketing. Click here to get started at a cost effective price. Don’t forget, the best time is now!!!

LEARN A WORTHWHILE SKILL

While there has been a compulsory break for by the government of various affected countries across the world, this is the best time to pick up a valuable skill along the way. Whatever it is you want to learn, the best time is now.

STAY UPDATED

Stay update with news on changes to the coronavirus epidemic, business trends, marketing etc. We recommend signing up for our newsletter as we give you all of these.

ENJOY YOURSELF

Finally, we also recommend taking time to enjoy yourself, relax and free yourself from any and every tension. Don’t forget to take proper safety measure.

DEFINITION OF TERMS

CORONAVIRUS

Coronaviruses are a large family of viruses which may cause illness in animals or humans.  In humans, several coronaviruses are known to cause respiratory infections. The most recently discovered coronavirus causes coronavirus disease COVID-19.

COVID-19

COVID-19 is the infectious disease caused by the most recently discovered coronavirus. This new virus and disease were unknown before the outbreak began in Wuhan, China, in December 2019.

ROI

Return on Investment (ROI) is a performance measure used to evaluate the efficiency of an investment or compare the efficiency of a number of different investments

DIGITAL MARKETING

Digital marketing is an umbrella term for all of your company’s online marketing efforts; which is why it could also be termed as online marketing.

SEARCH ENGINE MARKETING

This is increasing and boosting the SEO power with paid advertising.

Editorial Team

Editorial Team

Fovero Digital Technologies' Editorial Staff is a team of Tech experts led by Odewale Ayomide. We are a world class Graphics, Web and Digital Marketing agency operating from Lagos, Nigeria.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Business Empowerment Program

Join Our Business Empowerment Program

Get a website and more from #10,000 only.
Get started now!

Don’t forget to share on Social Media!

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on whatsapp
Share on email
Grow your skills

Hey dear, just Before You Leave!

Get Updates To Help You Grow.

We offer more than just services but teach people what we know to help them grow FOR FREE.

We promise not to spam!

Don’t Forget to check our blog/resources hub.