by Digital Marketing Philippines | Guest Contributor | DIGITAL MARKETING
As the on-going pandemic is still threatening globally, different markets and fields have been undergoing changes, adapting to the so-called new normal.
Described as worse than the Global Financial Crisis back in 2008, the current pandemic age made numerous economies face unfamiliar and strict health protocols. Yet these have been slowly easing up since some businesses are now allowed to reopen and serve customers in a limited count.
To meet the market's needs new business strategies are immersing, carefully shifting to the new normal, entering the Age of the Pandemic like outsourcing SEO.
Economic Impact Of The Pandemic
Under the virtual lockdown, everyone across the globe is affected by this new way of life, especially in purchasing needs and the selling markets.
Decline Of The Global Economy
According to IMF, the global economy was expected to get a significant output drop of 3% in 2020. Even strong economies of the United Kingdom and the United States of America aren’t an exception and were forecasted to have a fall in their GDP by 14% and 10% respectively. The economical result of this pandemic has a domino effect that was slowly reflected in each country’s economic status.
Reduces Manufacturing And Retails Activities
Since people are now staying inside the comfort of their homes, most business establishments were forced to close or limit their operations. Some changed their operations into online platforms to continue their business.
Unemployment Rate On The Rise
As manufacturing slowed down, many workers lost their jobs after businesses shutdowns. The current shift to online platforms has also caused cuts to cut the industries’ work labor force. Now, business owners tend to do everything in the comfort of their homes, with some help from their families to close relatives, instead of hiring people they aren’t really familiar with. Few industries kept their business in the running, yet they have also ended some contracts as there are less people to serve in stores, specifically this happened to fast food chains.
How To Restart Marketing In The Age Of Pandemic?
As from WHO's advice, the best way to stay safe and the strongest defense against the virus, aside from the vaccines, is to stay at home. Thus, business owners are now switching to online operations such as live selling and posting, handmade and homemade products that will be delivered on the same day of the order or through batch shipments. But how do business owners survive and connect to their consumers without having face-to-face contact?
Increase Your Presence On Social Media Platforms
Most people are now getting the hang of using smartphones and connecting to people through their applications, and even older ones are somehow knowledgeable now. Marketers are now focusing on their social media accounts to attract customers, promote their products and connect to their consumers.
Reexamine Your Brand Messaging
Since the global situation is really far from what it used to be, brand and advertising messages should be reevaluated to see if it is in line with the current state of the market. In order to hook new customers and keep the old ones, businesses should be able to change accordingly to what is in demand, to what is more comfortable and convenient to their target audience.
There are far more changes to happen as we continue to adapt to what's being modified, especially since the global economy is slowly rising from the ashes of the pandemic threat. Marketers should be prepared to get into the new normal and take advantage of everything they can to get into the marketplace once again, like outsource social media strategies and more.
If you want to learn more about how the marketing field changed in the midst of the pandemic, you can read this infographic from Digital Marketing Philippines.