Digital Marketing, Crisis Marketing, Marketing Strategy
July 6, 2020
Two-thirds of small businesses in Australia have experienced the impact of the COVID-19 pandemic (Source: Coronavirus: SME Policy Responses, May 2020). With 41% experiencing a drop in income of 50% or more in the last two months.
Our clients are turning to us and asking the hard questions. How can we survive? What do the next three months look like? Will this downturn ever reverse? What is normal?
THE WORLD IS CHANGING. EMBRACE THE DIGITAL TRANSFORMATION THAT IS TAKING PLACE TO BECOME MORE RESILIENT, THRIVE, AND GROW.
Time to ride the second wave of e-Commerce growth as consumer confidence recovers
Australians are shopping online more than ever before. Australia Post has reported a significant growth in e-Commerce, up by 80% in the 8 weeks following the WHO’s announcement with 200,000+ new households shopping online in April 2020.
Let’s target our customers online with eye-catching media and creative wizardry – KPMG, based on the Global Financial Crisis (GFC) aftermath, believe consumers will stay online with their purchasing behaviour as they have grown accustomed to this during the lockdown. Activity will return to shopping malls but digital will likely play a much larger role.
“We saw this enduring shift in consumer shopping behaviours as the economy recovered from the GFC. During the crisis period, many Australians experimented with online shopping for the first time as they looked for new ways to save money. As the purse strings eased, it became clear that everyday Australians had embraced eCommerce – and growth almost doubled over the next four years.”
Digital advertising to bounce back in 2021
Advertising spend has dropped a record 40.4% in May however “digital is forecast to rebound by 11% to surpass two-thirds of total advertiser budgets” (source: AdNews, June 2020). Instead of thinking it’s the end it’s time to think about starting a new chapter, ready to continue telling your story and its success ahead.
Have you thought about how you’re using social media adverts to reach new customers? Reports indicate an 8.8% increase in time spent on social media with the daily average now 82 minutes (source: eMarketer, April 2020). The digital opportunity here is enormous and with platforms like TikTok and Instagram continuing to add business features there are now more avenues than ever to reach your target audience.
Increased consumer expectations as people rely on digital means to get what they want
With increased spend and drive online comes higher expectations for smoother processes and quick response times. For example, maximise your active social media following by engaging with them using community management and creating exciting content. Reply to comments and messages as people may expect quicker response times – this will also increase brand loyalty and form a deepened connection with your followers.
It may be time to do an audit on your digital footprint to see what is working for you and change what isn’t. Revisit your website and step into your customer’s shoes. A slow website could be the difference between reaching your monthly sales target or not, as it is proven that page speed has a direct impact on conversion rates.
The magic of digital can keep the conversation going and put your brand in front of more prospects and customers. Facebook’s SMB Report (May 2020) has found 51% of businesses report increasing online interactions with their clients. 36% of personal businesses that use online tools report that they are conducting all sales online. 35% of businesses that have changed operations have expanded the use of digital payments.
But what does this all mean for you and how your business operates?
Keep your business in the spotlight with a great digital strategy that:
In an increasingly digitised world, do you feel confident that you can transform your business to succeed in the future?
If you still feel uncertain about how to begin your business’s digital transformation then reach out to GDR Media Group because we are ready to write your next chapter with you.
May 12, 2020
March 31, 2020