How To Adapt Your Ecommerce Business Digital Strategy During The Covid-19 Pandemic
Published: 5/22/2020 11:12:40 AM
The world is going through a global pandemic and things have gotten specifically challenging for marketers and eCommerce business owners in the last few days. At such tough times, businesses at first will search for ways to cut down expenses after analyzing their finances. While it is absolutely essential to make sure that every penny you spend brings in profit but nothing else, it is also important to learn where you must invest.
Cutting down on marketing budgets might be the first thought that may come to mind. But this could be a short-term solution that would worsen the situation and induce long-term consequences. To avoid such consequences here are few digital marketing strategies that will empower your business during this health crisis.
The biggest impact of Coronavirus on business is social distancing and the restrictions on physical gatherings. As per Google, 63% of shopping occasions begin online. Therefore, businesses should take this opportunity to get online and start their own online store or website. With the help of a good eCommerce software, businesses can increase their online lead generation efforts, thereby minimizing their losses. In addition to this, face-to-face meetings are turning out to be less common. Hence, organizations can also run video meetings, webinars, and other virtual gatherings to connect with possible customers.
Use your online marketing budget wisely
When there is any kind of global or national event (whether good or bad) the Internet activity hits the roof. People turn to their laptops, smartphones, or other smart devices to search the web and check the news. During this Covid-19 crisis, page views and impressions have increased manifolds. However, converting those abundant page views is very challenging. Therefore, while CPMs (cost per 1000 impressions) tend to fall down, CVRs (conversion rates) tend to decrease, too. Also, sometimes this happens swiftly, thereby resulting in CPAs (cost per acquisition) becoming even higher.
Instead of focusing on impressions, businesses should now opt for PPC campaigns. They should advertise on platforms and channels that use CPC (cost per click), instead of CPM payment models.
Use social media for customer engagement
In today’s health crisis, social media platforms have emerged as one of the best digital marketing services and are your key advertising tool. These platforms have surfaced as the most effective way to keep your customers engaged. As per the latest study by HubSpot, Facebook, Instagram, and Twitter lead the pack as the most common social media platforms used by marketers. Businesses can use these platforms to communicate with users through offers, discounts, contests, or just ask questions about present situations. This is the best time to communicate with your customers and keep them updated with all the modifications that are taking place in your business for better user engagement. These platforms also allow you to put forward the human aspect of your business.
Work efficiently and strategically
Millions of companies all over the world have implemented a work-from-home policy, meaning that employees are juggling between home, work, and families simultaneously. Here are a few tips to better manage time:
- Focus on short-term results: The situation is uncertain during this health crisis. Hence, employees must focus on what they can achieve in the coming few days.
- Focus on opportunities: During this health crisis, employees and businesses can easily fall into negativity and despair. However, it is very essential to focus on the positive instead of the problems. Also, there are always opportunities to be found.
- Invest in awareness and branding: Rather than investing to convert users who are not ready in such a pandemic scenario, invest in awareness campaigns that will keep your business in the limelight once the crisis is over, thereby enabling customers to return.
In a nutshell, the Covid-19 pandemic is inspiring businesses to evolve digitally and design human-centric campaigns. So, by adopting these new digital marketing strategies is also one more step towards digital transformation to help grow your business.