While COVID-19 has had a negative impact on the global economy, there, surprisingly it seems to have become a catalyst to the digital marketing industry. As per many business analysts and market surveys, it has proved that the digital marketing industry is going to blossom Since every business is making its way to the online way more aggressively.
When COVID-19 hit, for the first few weeks, it seemed like the end of the world. The recession hit, the stock market fell, and even groceries aisles were emptied. Luckily, COVID-19 became the catalyst for the change that the Digital Marketing Industry needed.
In the recent discussion on the impact of COVID-19 and the future of the digital marketing industry, many outstanding things came in front of everyone. Every discussion ended up with the same conclusion, stating, “the business will remain the same for digital marketers.”
The New “Normal” For Digital Marketers
Amidst Coronavirus Pandemic, the market scenario has completely changed. These changes in every industry have also enforced the ever-evolving digital marketing industry to adapt to the new “Normal” conditions.
While we mentioned that the situation and market will remain the same for digital marketers, still there are high chances of witnessing a struggle for a while among different industries. Unlike every other industry, digital marketing is the one field that serves the rest of the industries across the globe. So, yes, while we stated that the market will be the same, but, if clients are struggling so will we.
Just for instance let’s take an example of the travel industry, due to COVID-19 the industry has undergone a loss of 820 billion dollars, which is huge.
The Major Changes In Digital Marketing Industry Due To COVID-19
Impact of COVID-19 On Organic Traffic
As per the observations, Neil Patel shared on his website, the overall organic traffic has declined due to COVID-19. Since the Pandemic hit, the organic traffic has dropped for most of the industries like Hospitality, Travel, Restaurants, and more. But at the same time, if you are into news, blogging, eCommerce, online education portal your traffic must have skyrocketed.
Not only this, but during these times eCommerce platforms are also working well. However, the scenario is not the same for all the eCommerce businesses, the platform selling luxury items has witnessed a decrease in their organic traffic.
SEO Budget Distribution Structure
Since COVID-19 has forced people to embrace a new way of living, the SEO strategist has also been forced to change its means for better results. Unlike the times before, now it is better to go with the contextual advertising to avoid the losses as more and more people are responding to the same.
The Most Recent Action Plans That Work!
As per the survey conducted by Search Engine Watch, the action plan of digital marketers has changed drastically. Today customer retention holds the primary attention of a marketer as fetching new customers has become a little challenging considering the situation.
Because of this several digital marketers have changed their action plans. Now, they are focusing more on the retention formula which contains strategies like – offering discounts, providing additional services for free, etc.
The Era Of Webinar Is On The Verge of Ending
It seems like the time of webinars is over and the trend of program designs will begin. Not only, it will engage more and more people, but it will also encourage the audience to interact and subscribe. We have already observed several brands already moving towards videos, podcasts, and more and everyone seems to love this idea. Some of the examples you can check to come to a verdict – The Weekly Wrap with Robert Rose or 3 clips with Jay Acunzo.
Less Competition & More Results
As the economy has undergone a huge hit and is expected to go down by 2.7 trillion dollars, many experts have predicted the coming recession. These are the times when you should invest in digital marketing. See it as an opportunity when there is less competition and more room to outrank the existing competitors.
So, clearly, these are the times with less competition and the right time to strike hard.
In the end, we would like to say that we hope this current situation changes and everything gets back to normal, at least the “New Normal”. COVID-19 has definitely changed scenarios for several industries including digital marketing. The only difference here is that it had a positive impact on the industry as it is the right time to invest in digital marketing while your competitors lay back fearfully. There is a famous saying, “Be fearful when others are greedy, and greedy when others are fearful” by Warren Buffet.
So, beat your competition when your competitors are sitting back fearful.
In simple words, go hit hard as the steel is hot.