The COVID-19 pandemic has brought about an unprecedented health crisis. While tackling the effects of the CoronaVirus and imposing lock-down on the world, it has triggered an economic downturn. This has only increased the uncertainty and unavoidable fear in society. The latest Global Financial Stability Report shows that the financial system has already felt a dramatic impact, and further intensification of the crisis could affect global financial stability.
Health-related questions: Infectiousness, prevalence, and lethality of the virus; availability and deployment of antigen and antibody tests; capacity of healthcare systems to meet the unprecedented challenge
Social-related questions: the duration and effectiveness of social distancing, length of the lock-down, effects on the mental health of the public from being isolated from society
Finance-related questions: market lock-downs, and other mitigation and containment strategies; the near-term economic impact of the pandemic and policy responses; the speed of recovery as the pandemic recedes
The strain on the market has been quite high. Prices of risk assets have fallen sharply. Many equity markets—in economies large and small—have endured declines of least 30% at the trough. Credit spreads have jumped, especially for lower-rated firms.
Whenever decisions are taken, a trend-analysis is conducted to be able to foresee different possibilities. This COVID-19 pandemic is unprecedented. What we can do in this scenario is to make educated guesses on how to keep our businesses alive and kicking.
The first thing to do is to understand and accept the fact that with the lock-down, the demand for your non-essential products and services will be low to zero. The question of how long cannot be answered. But the question of how to survive can be guessed.
With a solid cash-crunch everywhere, it makes sense to go easy on the digital marketing front. It is a logical and straightforward decision. Why promote something you cannot sell?
But we also need to take a look at the bigger picture. This lock-down is not permanent. There is a bright shining light at the end of the long COVID-19 tunnel. We might not see it now, but it is there.
And keeping that in mind, we need to make sure that we are not entirely closing all digital marketing doors. We need to keep a few windows open and keep an eye on how things will look at the end of the crisis.
The reasons are simple. Brand awareness should be maintained, no matter what. Consumers and prospects should be able to recollect your name when they require what you provide - be in product or service. Your hard work over the years with respect to your SEO ranking on the search engine should not have been for nothing.
Keeping all these points in mind, we have created the top ten activities that you must focus on concerning your digital marketing. Allocate funds accordingly, be diligent and stay relevant.
Do remember, as people cannot go out now; they go online a lot more. Make sure that they find you.
Ideas to keep up and improve brand awareness
1) LinkedIn profile
The face behind the brand plays a critical role in connecting with the audience. Enhance your Linkedin profile no matter what. Keep the platform active with your advice and opinions. There are a lot of scared people out there. They are looking for all the support and comfort they can get. Showcase yourselves as the thought leader and present yourselves in the best light possible.
2) Email marketing
The unrestricted access to your subscribers’ behaviour can allow you to learn more about their habits and interests. Use this opportunity to reconnect with them, check on their well-being and understand their current requirements. Send polls and newsletters regarding your company and how you can be there for them when the markets slowly reopen. Personalization is key.
3) Free downloadable assets
Give the audience a reason to visit your websites. Give them not just the purpose but a takeaway after the visit. Keep it trending with the current COVID-19 situation. Clarify their questions with various options such as e-books, polls, interesting competitions, etc.
Make them want to come back to their website even if they are not purchasing anything at the moment. When the circumstances change, you will be on their minds. Don’t stop working on your brand awareness—every little thing matters.
4) Webinar - to talk about your products and services
Webinars allow your audience to place a name with a face and a voice with a name. This helps build a bond with real-time conversations. Gain the position of the expert in the field and promote your brand without the need to sell hard.
5) Engaging audience and prospects with a YouTube Channel
Your YouTube channel will be your path to higher engagement with the target audience. Bring tremendous business exposure at an economical rate. This COVID-19 lock-down demands controlled costs. An engaging YouTube channel can be your GodSend.
6) Optimize Your Website For Search Engines
Seeing as Google is the first place one goes to for anything, your visibility on this platform is golden. Consumer awareness is so high that no one even thinks of purchase unless it is literally Google-Approved. Don’t let the current market scenario bring you down - both morale wise and on the Google Search Engine. Optimize your website and stay on top, no matter what.
7) List Your Products In Business Directories and List On Google My Business (Local Business Listing)
Places such as IndiaMart for B2B and JustDial for B2C are prominent choices to promote yourselves. List for free and stay relevant. With Google’s personalized services tailored to your location, manage your GooglePlus Profile and claim your listing.
8) Use The Power Of Social Media
Gain popularity on Social Media. It is THE PLACE to be in. Get the feel of the audience and answer questions. Clarify doubts and solve issues. Because that is where people go when they are stuck, they look for answers on the internet. Be there to receive them with open arms. And they are bound to reciprocate.
9) Attend online-meets conducted by others
Events and meetups are great places to meet new people. It is a good idea to understand how other people are solving similar problems. This COVID-19 has treated everyone equally, so you are not alone. Search for business events and attend them for free. Share your thoughts, receive new ideas and grow your network at the same time.
10) Offer a deal and promise them complete service at the end of the COVID-19 lock-down
If you can come up with a mouth-watering deal, you can get a good number of prospects at no cost. Remember to live up to your agreement when it is time to deliver. Your reputation speaks volumes.
The Indian Government is working hard to enable survival during this crisis. They have arranged to release ₹18,000 crore tax refunds to businesses and people. All the pending income-tax refunds up to ₹5 lakh to be released immediately. The move is set to benefit around 1.4 million individual taxpayers as well as 100,000 businesses.
It follows the recent government step to offer relief in interest, fee and penalty for late filings of various statutory forms amid a nationwide lockdown to tackle the pandemic. The ministry has also decided to issue all pending goods and services tax (GST) and customs duty refunds, which would benefit businesses, including micro, small and medium enterprises.
The COVID-19 lock-down has presented you with the opportunity to understand the difference between the wants and needs of the audience. Think outside the box. Use this opportunity to spend more time on your brand and your employees. The focus has now changed. It’s time to be unconventional. New problems demand innovative solutions. Because, this is the new normal. It’s time we accept it and prepare for what’s coming next.
If not now, then when?