The rise and spread of the coronavirus worldwide (also known as COVID-19) has sparked adjustment and new normals for all brands and marketers. These are the lessons so far from a marketer’s perspective.
Every new turn is media updates on the coronavirus pandemic, and it has put many in a frenzy with what’s next. Brands all over are readjusting their business models and strategies to align with what’s going on in the world. These are just a few lessons this crisis has taught me as a marketer.
Communication and messaging is more important then ever
Now is not the time to be exploiting these hard times for your personal gain. Audiences are looking for empathy and a sense of hope. Communication to your audience is key to how you handle this situation. Fear is already at the center of this pandemic as the rising of cases + deaths continue to climb.
As a marketer, you want to offer assurance that we can get through this together. Be helpful and not harmful.
Brands are going to suffer and this is a harsh reality.
Small businesses and brands all over are getting hit the most. The economy as a whole will be dented by the virus. It’s projected that it will cost our global economy $2.7 Trillion in order to fully recover from all that’s transpired.
Brands are losing out on revenue and spending will be stagnant as we push forward during this crisis. Traffic on websites and digital ad spending has plummeted. For brands such as Facebook and Google, they have totaled a loss of $44 billion .
The importance of video and virtual connection has never been more crucial
While brands are losing revenue, the importance of connectivity through video has become crucial in these hard times.
Facebook has elevated its Live Video with features such as Live Producer in order to help brands reach out and connect to their audiences during this crisis.
With people across the globe practicing social distancing and staying at home, usage of live video has grown across all platforms.
The rise of digital media usage amid the crisis
Since the world is under self quarantine, the opportunity for digital media usage has soared for every channel imaginable – especially for platforms like Tik Tok. In mid-March, Tik Tok saw an 18 percent increase in the download of its app. Many people around the world have taken heed of the platform to share light hearted and fun videos to cease the tensions of this crisis.
Other platforms also saw a boost in usage as well. Isolation has sparked this spike in usage – because quite frankly, what else is there to do. However, these are sensitive times and how you interactive with your audience online can make all the difference. This goes back to the communication point I brought up earlier. While the world is on the platforms, we just have to be mindful and careful what we are saying to them.
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Moore Digital 