Over the last two decades, the opportunities in digital marketing have grown tremendously. The growth of internet technology has presented immense growth opportunities for businesses across industries. For instance, by 2021, analysts project eCommerce sales to reach $4.5 trillion.
Despite such potential, many businesses in Singapore didn’t capitalize on this shift in their marketing strategies. The COVID-19 pandemic has thus caught them unawares. All around, both small and big brands are scrambling to build their digital marketing strategies to survive the debilitating circumstances created by the novel coronavirus.
The government projects a bigger hit on the economy than during the Global Financial Crisis of 2008. The Monetary Authority of Singapore (MAS) has said the country will sink into a recession.
With the new normal caused by a global pandemic, businesses have to change tact and embrace digital marketing. This post looks at the importance of this shift, and strategies businesses can use for the transition.
Devastating Effects of COVID-19 on Businesses
To say that COVID-19 has devastated the global economy is an understatement. Since the coronavirus pandemic in December 2019, it has already spread to over 190 countries across the globe in its wake, threatening to debilitate national economies.
The social distancing measures recommended by health organizations and national governments, including curfews and lockdowns, have had a spiraling effect on most industries.
Across the world, there are reports of small and medium businesses experiencing a slow demise. While some of these might restart if the global economy picks up, many of them will not survive. Cancellation of live events, emerging barriers on face-to-face business, and restrictions on global travel are just a few of the aftershocks of the pandemic.
The Silver Lining in Digital Marketing
While things look gloomy, businesses have to search for a silver lining during this disruption. Companies have lost a lot of money through canceled orders, collapsed contracts, weak supply chains among other unfortunate consequences.
However, this is also an opportunity for businesses across the globe to leverage innovative digital marketing trends. Such efforts might entail partnering with a reputable digital marketing agency to jumpstart your company’s online campaigns.
If your business didn’t have any online presence, it’s not too late to start. On the other hand, you can rejuvenate your slow marketing campaigns at this time when more consumers have shifted online. With social distancing measures still in place and without an idea of when these will end, there’s no better time to build your internet marketing strategy.
While most business owners will continue mourning their losses, the forward-thinking ones will view this as a window of opportunity to prepare their businesses for the new normal. Any business can now adapt digital channels as part of its long-term marketing strategies.
Singapore already boasts the highest internet penetration rates in the world. This means businesses can work to identify their target audience in this landscape. Digital marketing Singapore is bound to become the new frontier for any business that wants to survive post-COVID-19.
There’s every reason to go digital now. Take a look:
- Your business can survive the uncertainty caused by COVID-19
- To reach a wider target audience now that most people are online.
- Ease of customization for your marketing campaigns through personalized emails
- Leveraging social proof in digital media to boost the credibility of your business
- You can harness SEO tools to grow the visibility of your business, increase conversion, and build brand awareness.
Going Digital to Survive COVID-19
For most businesses around here, the transition to the digital marketing landscape is already happening. Many companies already had digital assets like social media networks, websites, and emails. These businesses only need great strategies to revive these neglected platforms.
As you adapt to these changing times, here are some ideas to get you started:
- Build a solid digital marketing strategy: Maximize the resources of your digital marketing agency to start on the right footing. Identify your target audience, pick the best platforms to reach your target audience, and create a content strategy.
- Speak to your customers: Whether you are new to the digital landscape or not, you need to talk directly to your customers. For instance, send a coronavirus email, alert subscribers about any coronavirus-related changes, leverage social media to make announcements
- Revitalize your website: Your website is an invaluable tool during this crisis. Use this opportunity to assure customers you are still available to serve them. Go on and update the products or service pages with new photos and descriptions and update your FAQs page. You should also refine your site’s e-commerce framework to make it easier to take orders and offer seamless payments. Pick the best digital marketers in the country to spearhead your website’s rejuvenation.
- Invest heavily in SEO marketing to reach more customers while retaining those you attract.
- Employee induction: Make sure your employees are well versed in the new digital operations.
These are tough times for businesses, and they are bound to get worse. However, by turning to digital marketing, you can mitigate the risks and increase the chances of survival for your business. Go on and design a strategy to prepare your business for the new normal. It might be the best decision you have ever made.