The ongoing COVID-19 pandemic is impacting almost every part of our lives, from the places we can go to the way in which we spend our time, to the priorities we have, and the way in which we spend our money.
Of course, this has wide-ranging ramifications for marketing, eCommerce, and advertising as well as a number of other sectors such as entertainment, travel, and FMCG.
Digital marketing expenditures have significantly raised over the years. Despite the decrease in marketing budgets because of the spread of COVID-19, digital marketing channels have dominated and will continue to dominate. As per the data from CBRE U.S. retail sales fell by 8.1% in Q2 of 2020, the quarter which is still the most affected quarter by COVID-19, till now.
A second wave of coronavirus in Beijing and a spike in infections across a swathe of the United States has dented sentiment of marketers and sent stocks to their reopening plans. Moreover, the repeated warning by WHO that worst is yet to come has further made businesses and marketers worried. So here we have listed 3 ways in which the second wave of COVID-19 can have an impact on marketing functions.
Returning to work won’t be a U-turn
The first wave of COVID-19 has shot the unemployment rate up to 17.1% and 40 million American jobs, this is already having a lag effect, slowing down the effect.
The second wave will surely make the situation worse, so we have to accept that the return to work won’t be a straight U-turn, we will have to plan out things as per the situation of the market keeping the second wave of COVID-19 in mind. According to the Economist, New York City which was a COVID epicenter during the first wave of coronavirus might take 5 to 10 years to recover. So instead of planning to re-open offices or setting up personal client visits, marketers will have to maximize the use of digital channels and try to target the audience keeping unemployment and other conditions in mind to tackle the second wave.
https://www.martechcube.com/second-wave-of-covid-19-for-marketing/
In our previous blog, we showed you some of the steps you need to take to layout your Digital MarketingIn our previous blog, we showed you some of the steps you need to take to layout your Digital Marketing plan and business process management.
Some may be more appropriate than others for your particular business.Making sure your website is googleable is one of the most important aspects of getting found online.
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