Businesses have shown signs of struggles in the early stages of lockdown imposed due to the pandemic. Many businesses that didn’t had an online presence were kind of left behind in this scenario. The businesses that were new to the online dynamic struggled to understand their audience and how their brand would fit into the specific type of audience.
The main reason for this is that the modern world has never faced this magnitude of disruption that has been caused by COVID-19. Sure, technology has been beneficial but this biological virus has gone past that phase. The modern world does not know how to tackle the marketing amidst a pandemic which causes marketing loss for many companies.There have been lot of studies and surveys being carried out by various organizations to monitor the impact of coronavirus on businesses. The key findings were somewhat expected. Many businesses had their strategies changed which was a common theme seen in the results.
Another main takeaway was the budget cuts and how the management is dealing with it while marketing. The businesses saw a swift shift in paradigm as marketing was being done virtually. Customer engagement was surprisingly not a concern for many as it was determined that new customer reach was not a challenge but it opened new avenues for their businesses.
Face-to-face engagements are not physically possible at the moment but online engagement is seeing it through. Customer events are a very good source of engagements and many marketers are planning on continuing the trend even after the lockdown.
Infographic by: linkedin.com