The world is going through an unprecedented crisis in recent decades. Millions of people locked in their homes, businesses closed, people unemployed … and this situation, of course, affects all businesses, including digital marketing.
Using my own experience and the reports that I have read in different media and countries, we can make a list of issues that need to be taken into account at this time:
– Many companies are waking up now to the digital world, since they see it as an option to continue surviving while your physical space remains closed. This is a great opportunity for website builders and e-commerce managers in general, as well as logistics companies. It is necessary to offer good prices and flexible plans so that SMEs can take risks in this world without investing money that they do not have, since they can become safe and profitable clients in the future.
– Since the physical events have been canceled And many people have started working from home, the world of videoconferencing has grown enormously, and that must be taken into account when creating business models focused on online education, there are fewer people who are afraid of these tools.
– Marketing departments around the world are also feeling the effects. It is estimated that 6% of sellers are altering your short-term media strategy. However, only 9% are making long-term changes.
– Marketers who see a cut in budgets will benefit by move towards cheaper and more flexible channelssuch as programmatic advertising, where consumer presence and available impressions are increasing. Digital ads, social networks and online videos are channels that are likely to increase in the short-term media plan, although at the moment there is a general price drop that benefits advertisers and hurts the media that put their advertising in your news.
– Advertising outside the home, such as subway billboards, will have much less exposure, so it is assumed that you will end up investing more money on digital advertising than in traditional advertising.
– The uncertainty of the future is understandable, and that makes for a while Really low CPMs. With many affected companies cutting their digital marketing budgets, we are seeing up to a 47% drop in CPM and CPC prices (due to a decrease in competition). Again, this is an ideal opportunity for some marketers to acquire new clients at a lower cost than before.
As tips, we can say
– It is important to stay focused on the long term and not shy away from new growth opportunities. – You have to be patient and not make important decisions in these uncertain times. Everything will eventually stabilize, although the new normal may change some rules. – Reducing budget spending too much, when it is not necessary, could negatively affect the brand when the pandemic is over. – Online activity does not stop, there is a constant flow of breaking news, and that makes the visibility of the news ends up being lower. It’s normal, it doesn’t just happen to you.