December of 2019 witnessed the severity of the Pandemic, covid-19 also the global market faced a nerve-wracking change in the marketing field. Traditional Marketing underwent a great crisis, and the world moved into digital platforms for sustaining their business. Thus, Digital Marketing saw increment as small and large businesses switched to Digital platforms for advertising their products.
Lockdown fabricated a flustered environment around the globe. The decrease in profits and the escalated expenditure became a barrier for brands to promote their products. However, this panic situation led
to a Digital revolution in the field of marketing.
How did the lockdown affect the growth of corporates?
According to research, the lockdown reduced the money profit of companies by 71.31%. Several firms decided to withdraw their support/relationship from other companies(including small businesses). It created a blockage in the cash flow among the businesses.
According to Worldbank, From April through August 2020, company sales fell to 45% from pre-pandemic levels, and by October 2020, it was 27%. The shut roads and offices affected cash flow fencing the growth of companies.
Due to this situation, many people became jobless, while some faced decrement in their annual income. According to the reports of ILO, 73.7% of workers face a drastic effect on their financial conditions amid lockdown.
The Digital Revolution
During the lockdown, the traditional marketing tactics acted as deadwood. Companies went deep in the fluid of loss. Digital Marketing was the hope of light for every firm because of being much cheaper than traditional marketing techniques. Thus, brands look for digital marketing as a blessing during tough times.
From large businesses to micro businesses, everyone is investing in digital marketing. Further, Digital Marketing has provided huge profit returns to the brands on minimal investment.
Digital Marketing acted as a saviour for failing businesses by cutting the enormous marketing expenses previously spent on traditional marketing. The brands soon filled the void of loss with great returns using digital marketing.
What is Digital Marketing?
Marketing delivered through digital channels, including search engines, websites, social media, email, mobile apps, text messages, and multimedia messages, is called digital marketing.
Marketing and advertising online are more complex than channel-specific marketing because online marketing is such a vast system of digital channels. To take advantage of the maximum of digital marketing, marketers need to delve deeply into the vast and intricate world of cross-channel marketing and find strategies that work to engage audiences.
The 8 Major Elements of Digital marketing are as follows:
- Online Marketing
- Search Engine Optimization
- Social Media Management
- Email Marketing
- Web Analytics
- Mobile Marketing
- Paid Search
How did Digital Marketing help companies during Covid-19?
After the dark phase of the life-threatening wave of covid-19, social media has become a powerful tool for people to eradicate loneliness, mental issues, and the connection with the world. The world is now reincarnating with the foundation of the Internet.
From entertainment to education, the Internet has covered it all for the people. During the lockdown, the Internet was the only option left for the growth of people in every forte. It resulted in the birth of opportunities for the corporates.
According to research, after the lockdown, 84% of brands shifted to digital platforms to grow their Marketing. Digital Marketing acted as the vital source of growth and advertising for brands during the lockdown.
Some of the benefits for the brands through digital marketing are -:
- Increment in the customer retention rate
- Cost-efficient Marketing
- Targeting the right audience
- A boost in Brand Credibility
- Decrease in the over expense for marketing strategies
- Increases customer royalty because of the regular conversations
The Future of Digital Marketing, Post Covid-19
After the waves of loss surpassed over the heads of every brand, digital marketing surpassed the traditional marketing tactics for the first time in history. Now, Digital Marketing has the buyers/users with an environment of comfort and easy communication with the brands.
According to many Digital Marketing agencies in India, during the lockdown retention rate of visitors was increased by 40%. It was something beyond their expectations. Digitalized Marketing helps brands gain more engagement because of the interactive marketing tactics.
In the future, more brands look forward to opting for Digital Marketing because of its ability to create an alluring atmosphere for the customers through interactive sessions, virtual events, social media, and much more.
According to the reports from many agencies in Dehradun, Digitalized Marketing has become the topmost priority for many businesses. The Digital Marketing agencies look forward to increasing the scope of employment. As the industry grows, the need for employers also increases to sustain the standard of marketing.
People around the globe witnessed the collapse of the economy during the Covid-19 phase. Marketing helped brands build the fade connection with the customers and made them aware of their needs. It is a clear indication that the future will move with the help of technology.