How Critical Is Digital Marketing For Every Business Amid COVID-19 Outbreak?
The turmoil of a pandemic like COVID-19 has a rippling effectover every part of the business- managerial oversight, coordination between cross-functional teams, and training and compliance. In the toughest battle of survival, businesses adjacent to the travel industry have been more likely to experience the hit.
The crisismanifolds day-by-day forcing businesses of all sizes to reevaluate their financial strategies for the coming months. It is more of critical financial planning that has B2C companies reassessing their digital marketing strategies, especially with the paid search.
All of this, businesses must evaluate if it is relevant to spend after digital marketing in the tough times when consumers are reluctant to buy.
Reports suggested that ad revenues and earnings from social media channels, especially Facebook have declined sharply across different verticals including retail, travel, FMGC, and entertainment whereas they contribute to 30-45% total revenue generation for companies.
Amid this situation, what should be your best digital marketing considerations and practices?