We were all caught off-guard, weren’t we? The novel coronavirus has taken us by surprise and it is almost as if we are staring into darkness with no certainty or even a hint of what lies ahead for us. We have had nearly 70 days of complete lockdown where no concrete business activity could have taken place and we are in the midst of the fifth phase of the lockdown; or unlock 1 as they say which is scheduled to end with the end of June.
Along with the problems faced by every company for the sale of their products, the marketing strategy of each business has also taken a considerable hit. Be it regional stores which sell products of daily use or CEOs of leading companies, the onus is upon each one of them to implement a revised marketing policy which would in return help to increase their sales. DMAG Marketing, an award-winning Pune based digital marketing agency, suggests a few strategies and also a few reasons as to why digital marketing is the right way ahead during and after the covid-19 pandemic.
1. End of the road for traditional marketing?
With the onset of the novel coronavirus, it became almost inevitable for everyone to stay at their homes to ensure complete safety. Work from home became the new normal but marketing was always going to stand as an exception there. First things first, there’s absolutely no way a company could stay at home and follow traditional marketing. It is compulsory to opt for digital marketing. No matter how cliched it would seem, one has to agree that the scope of digital marketing is way more than the scope of traditional marketing. Digital marketing is a relatively cheaper prospect and aims at a larger target audience. In other words, digital marketing is not geographically bound as anybody from anywhere in the world can access it.
2. Stay connected to your customers
During the peak of the virus, quarter of the world’s population has gone into a complete lockdown. According to a study by Forbes, internet hits have seen an increase of 50-70% during the phase of lockdown; which means people are using the internet as never before. This is the time when the company can make its mark and leave a lasting impression on their customers. Digital marketing does not only mean social media posts or social media marketing. Digital marketing would essentially mean to stay connected with your customers at all times, reach out to them and study the changing behaviour of the customers.
3. Be smart, play safe
2020 has been a disaster to say the least. Be it the economic condition of the country or the condition of a company, nothing has gone the way it should have. This is where the Ansoff’s model is of great avail for the companies who deal with multiple products or their business involves launching of products. Now is the ideal time to implement and improvise on the market penetration strategy. Product development or market development strategy would not be ideal at this stage barring companies that have accumulated years of goodwill. Lastly, diversification strategy goes straight out of the business plan. Neither the buyers nor the companies themselves have enough funds to launch a new product. The best-case scenario would be to go for the market penetration strategy with digital marketing. The company would be able to explore the areas which once remained untapped which could help them to possibly think about product development or market development strategy.
4. Now is the perfect time to go digital
The world right now is facing an unprecedented situation. Exceptional situations call for exceptional actions. Companies till today might have been very comfortable with the way they were performing by traditional marketing but currently, they seem to have hit a roadblock. It is almost as if digital marketing is the only way ahead. Now is the correct time for the companies to start investing in digital marketing if they have not yet invested and the companies that have already invested in digital marketing might get away without facing the wrath of the situation to some extent. The companies who are far sighted and have already made considerable investments in this field can consider themselves really lucky.
All said and done, there’s no denying the fact that we are going through an extremely challenging period at the moment. Digital marketing companies in India will have to be on their toes in order to cater the demand of increasing need of digital marketing. Digital marketing services would be in high demand and will continue being so for a foreseeable future. There will be times where the client’s company would get frustrated or the owners of the company, in the quest of thinking out of the box, might indulge into something that would eventually be undesirable for the company.
Businesses should realise that this situation isn’t going to last forever nor are their business shutting down. All they need to do right now is to stay level headed and change the approach of the way they market their products. Undoubtedly, digital marketing would be of great avail even after we emerge out of the global pandemic because of its various benefits and its capability to score over traditional marketing any day. Till then, we at DMAG Marketing wish you all the luck with your business strategies and wish they pay off just the way you have liked. Stay home, stay safe.