How Will Coronavirus (Covid-19) Affect Global Marketing Trends and What Can You Do About It
Well, it's safe to say that everything has changed. COVID-19 has altered all of our lives and stories, in one way or another. Hopefully, you're practising social distancing no matter where you are and finding ways to make this unfortunate (but necessary and temporary) situation bearable. If you can do your dome from home, stay safe and put, but remember:
The Virus of Change Has Arrived
Nothing will ever be the same! Until last week, globalization was that inevitable yet beautiful, almost default part of our lives. The technology has evolved so much that anybody with enough money and time can go from Tokyo to New York in a matter of hours. But the ease of travel and the number of people on the go was the exact thing that brought the whole human civilization on its knees. It gave Corona wonderful conditions to spread and reach havoc among us.
A few days ago China went out of the "danger zone", while the other countries around the globe are just starting to see the worst of things. The number of new cases and the death count is rising, and the sadder piece of news is that nobody knows how long this will last. The only sure thing we know is that COVID-19 is forcibly adjusting our behavior and habits for the time being. Communities worldwide lead their lives in a closed-off environment. What kind of consequences will this bring to the global economy?
Everybody's in a Difficult Situation, Don't Abuse It
The whole world is trying to stop the spread of Corona for the greater good, in a way that no one has ever witnessed before. Some drastic measures had to be taken, and a ripple effect has been painful to watch. The global stock market has crashed, airlines, schools, stores, theaters, restaurants, and cafes are closed in an effort to try to slow down the invisible "crown-wearing" enemy. Unfortunately, people are losing their jobs left and right because of it and, sadly, that's going to stir up a lot of commotion.
Folks are going to panic and be desperate. If you are in a position to exploit this fact, please refrain from doing so. It's not a good look on anybody, especially not a marketer who's either looking to keep their image intact or build one from scratch. Do you think history will be kind to those who resold hand sanitizer at an outrageously huge price at times like these?
Making a quick buck may be a tempting option right now if you have the right goods. However, remember that being human comes first, and shady practice should be on your list of priorities, at all . Especially in times of crisis! Think about your storified microstore in the long run, and resist the urge to exploit the fact that people would do and give anything to ensure their health and safety right now!
The Current Situation Is Difficult the Future Even More So
We will win this battle, but it will come at a great cost. The experts estimate that the global economy will perhaps take over a year to recover from this massive hit. If you start to analyze global organic traffic trends, you'll see that almost every industry struggles.
Travel and tourism are suffering the hardest in terms of traffic, and advertising, manufacturing construction, real estate telecom, and transportation are not doing their best either. Hardly anybody is going to look up these things when survival is the only thing on their mind. They are searching for health care stuff, pharmaceutical, and COVID-19 information and food, so if you're in these industries, you're probably seeing an increase in organic traffic.
When it comes to eCommerce, the amount of traffic depends on the natural stuff you sell. If you're selling necessities like wipes, baby products, sanitizer, flour, oil, and other much-needed groceries, and if you have a storified webstory on top of that - you're likely to see an improvement. Enjoy it, but don't abuse it.
The Conversions and Pay Per Click Data on the Down Low
There's no time to beat around the bush, so we'll just say it how it is - in these times, conversions are even worse for most, and it's a toll that's yet to be felt. A lot of traffic doesn't mean great conversion numbers, especially now. For example, the financial sector, which is presently seeing plenty of growth has troubles with getting conversions. The only ones who are doing well, with traffic and conversions rising, are media companies. It makes sense since people want to stay informed, and they are willing to pay to get their info fast and accurate.
Speaking of paying, Pay-per-click data changes aren't noticeable so far, even in the travel industry. What has changed is the cost per acquisition, so even if you get a conversion through a paid ad or a storified ad, you're going to give a chunk of dollars for it.
So, What Does That Mean for All of Us, Marketing Folk?
However long it may take for us to recover, marketers have to be like cats in these kinds of situations. In doing their best to prolong the nine lives they've got, think & act fast and always try to land on their feet. Create flexible plans and continuously monitor the situation to adapt to changing conditions.
Experts say that the market still hasn't hit its rock bottom and that we have a recession at our doors, so it is time to "play the long game". History has shown that this could be your opportunity to shoot straight to the top since during times like these most markets don't have much competition.
Expect people to cut back on everything they can, but you do the opposite - invest in your marketing today. It's time to up your game and increase the number of your storified articles, video and animation content. The more you invest in your marketing and outreach now, the more you'll see ROI after "the COVID-19 apocalypse".
Storifyme team will be with you through thick and thin, to remind you to stay responsible and proactive even when it seems that the whole world is burning. Stay inside and stay creative. Your story is just beginning.