“Big shifts in stock markets, Oil hits record low, In the US the number of people filing for unemployment hit a record high, Companies stopped hiring” The Covid-19 pandemic has brought a huge downturn on the global market along with its large number of victims. Next to Suffer might be the advertisement Industry.
Some corners of the industry are likely to be hammered by the spread of the Covid-19. Paid advertisement Sector is expected to have a hit amid this Coronavirus Outbreak. Facebook COO Sheryl Sandberg said “This is not going to business as usual, and the marketing industry is certainly going to see a real impact. I don’t think anyone knows how big. So we’re going to watch and look.” NY Times made a filing in which it said that ad revenue would be down about 10% this quarter. Analysts said they expect to see Facebook’s ad business take a hit in the near-term. Companies stopped hiring, conferences, etc. and reporting it as an earnings risk. These might extend to Digital Marketing companies.
However, this hard time where most of the people are under Lockdown or Quarantine is likely to bring high engagement and user activity in Social Media and Youtube. “Any time people are at home, there’s a chance their video consumption is going to go up.”- Steve Nason. It is the perfect time to optimise our Digital Marketing Campaigns. Direct your marketing budgets to more effective channels like SEO, influencer marketing, etc. Fixing your website; make it more user friendly, Working on your SEO, Optimizing your campaigns, focusing more on SMM, video marketing, educating your audience about Covid-19 and it’s safety measures, etc would be the best strategy to navigate your Digital Marketing Campaign.
This too shall pass! Let’s all stay at our homes and win the war together against Coronavirus!