Coronavirus and the Marketing Industry: What Happens Next?

Not unless you live in some random isolated forest, the global COVID-19 pandemic has affected you somehow. It is constantly at the forefront of every person’s mind, particularly businessmen. People keep thinking: Will I be infected? If I already have, will it relapse? Businessmen, on the other hand, keep questioning whether they will recover, and how they can be strategic to adapt in such tough times.

It is therefore imperative for us to address the marketing sector in the economy. Marketing is the window through which people identify with businesses and commercial organisations. Amidst the pandemic, marketing has evolved to target the changing population, focused on protecting themselves from infection. As such, marketing has to adapt to the life of citizens as they cope through social distancing, isolation, and all measures set in place to control the disease.

The million-dollar question is: For how long will this go on and how will the marketing sector change? This article seeks to explore a deep insight into the matter. Before anything, it is important to note that unlike most countries, the UK government is yet to authorise complete lockdown. In other countries, because of the limited movement, marketing has primarily shifted to online platforms. Large sporting events have also been cancelled, leading to the loss of sponsorship deals, making the TV ad market decline as well.
That said, here are expected changes in marketing amidst the COVID-19 pandemic:

Online marketing may increase

We anticipate an increase in digital advertising over the next couple of weeks, possibly months. As people spend more time indoors and decrease physical contact, they will automatically shift to online shopping and social media to connect. For a business to reach its clients therefore, it has to shift with them. To support this, a study by Dentsu Aegis Network on 155 clients showed that 14% of them, had shifted to an online front.

Moreover, people are travelling less, and commuting less, so mobile and virtue opportunities are expected to rise. Social media checking, according to Global Web Index has increased across all generations of people, recorded as follows: 15% increase among Boomers, 29% among Gen X, 30% among Millennial’s, and 27% among Gen Z. Additionally, 4 in every 10 users are also checking the news more. Perhaps it has nothing to do with boredom, but rather freedom from constant scrutiny by the managers since people are working from home and can check their phones regularly.
Social media ad spend is set to increase.

Most of the time when people are on their phones, they will be on social media to meet friends, relieve themselves from loneliness and boredom, interact, read the news headlines, and generally keep tabs on things. It is therefore evident that social media is becoming a routine for many, hence marketing will shift to social media platforms. As such, statistics suggest consumer-led brands will harness the power of social media to engage their audience. As a result, social media spending will rise by 22.2% as a result of coronavirus.
True to this, we are already experiencing a rise in influencer marketing. A recent study also indicated a 76% increase in daily accumulated likes on Instagram ad posts over the past two weeks.

What content do people need amid coronavirus?

Marketing professionals such as digital marketing agency Basingstoke  and enthusiasts like facilitators and content creators have a responsibility to be conscious of the ongoing crisis as they go about their endeavour’s. Consumers need your services and products, but more than anything, they need support. People expect the leading brands and organisations to pave way for philanthropist and considerations for others. Since studios are unavailable, content creators could be used as a trusted partner to brand marketing messages to the target population.
Above all, they should ensure that the content is centered around mental well being and keeping safe naturally, as well as remaining positive even when faced with a catastrophe such as this.