Best Digital Channels to Take Advantage of During the COVID19 Pandemic
The COVID19 pandemic has changed the world in several ways. Obviously, some businesses are facing great difficulties. To stay in business many companies are cutting costs wherever possible. That definitely includes marketing budgets. These companies can no longer afford to experiment or expand their marketing efforts. So, they must carefully select the marketing channels that they choose to use. You may be wondering which digital channels are best for advertising when the world seems to have gone crazy. We have some ideas for you to consider.
The first thing you want to do is analyze the marketing channels that you were using prior to the COVID19 pandemic. Which channels resulted in the best response? Which channels generated more sales? If you have been doing proper analysis of the results of your marketing, you should have tweaked the customer profiles you developed in your business plan. Now you must discover what has changed for those specific customers because of the pandemic.
If more of your customers are working from home or sheltering in place, what products or services do you offer that will be of greater value to them now? Has the online behavior of these customers changed? Perhaps they are now spending more time on social media platforms such as Facebook. Perhaps they have more time to read their email.
If more customers are at home, what types of activities are they more likely to engage in? Are they now doing more cooking and baking at home? Many parents are now home-schooling. You can see where there might be a great increase in their using the YouTube platform for how-to videos. This may be a good time to increase advertising on that digital marketing channel.
Their Loss; Your Gain
According to the New York Times article News Media Outlets Have Been Ravaged by the Pandemic, people are consuming more news, but advertising has plummeted. Here’s your chance to take advantage of reduced competition for eyeballs on digital news websites. Pay-per-click advertising may be more affordable now for your business as well.
The same applies for advertising on social media platforms such as Facebook. MarketWatch reports that monthly active users will increase by 8%. That means growth opportunity for the small to medium-sized businesses that account for 76% of Facebook’s ad revenue.
It’s Not All Bad
Many businesses have seen an increase in revenue during this time. In fact, according to eMarketer, overall sales are projected to decrease by 10.5% in 2020, but e-commerce will increase by 18%. Great news for online retailers: First-time online shoppers is also showing an increase. The 65 and older crowd by a healthy 12.2%.
Is there an opportunity for your company to venture into a new product or service? Or is one of your current products or services of greater interest now? That product or service could drive more traffic to your website. That is an opportunity to use that digital marketing channel to your advantage. (Your website is indeed a digital marketing channel.) A customer may be motivated to come to your website for a particular product – giving you a chance to cross sell them on other related products or services.
Spice It Up
If you produce the type of product that is presently flying off the shelves, leverage the popularity of that product in your email marketing. Again, this is really about cross selling. For example, if you have an online gourmet food business, and you sell dried beans, you may have already noticed a great increase in traffic on your website. Take this opportunity to cross sell a customer on spice mixes. Or bone broth. Offer discounts on related products. While you have their attention, leverage loyalty programs to incentivize customers to stick around post-pandemic.
If, like many companies, you are out of stock on a high-demand product, make it easy for the customer to sign up for in-stock notifications. Be sure to offer alternative products. Side note: If shipping will be delayed, be honest about it. Even during a pandemic, promise less; deliver more, is a best practice.
If business has slowed down, this is the time to focus on content marketing. In fact, you can review the current content on your website and tweak your search engine optimization (SEO). You should have some COVID19-related content on your website for two reasons: It’s helpful and it shows you care. But you want to provide content that is helpful to customers in other ways. For example, how-to videos or recipes.
The Best Digital Marketing Channels
The best digital marketing channels to take advantage of during the COVID19 pandemic are those that meet your customers’ new reality. When we get through this pandemic, and we will, your business may have changed substantially. Things will not necessarily go back to so-called normal. See this pandemic as an opportunity to improve and possibly expand your business. Doors may close, but it’s up to you to open up some windows.
The marketing basics have not changed. You must base your marketing on customer profiles, a marketing plan that targets those customers, and the analysis of your advertising results. Affix Advertising can help you determine the best digital marketing channels to advertise in during the pandemic – and well into the future. We can provide the tracking and analysis you need to stay nimble during these ever-changing times.