COVID-19 Crisis: Digital Marketing for the new normal
By: Vajra Global
Health-related questions: Infectiousness, prevalence, and lethality of the virus; availability and deployment of antigen and antibody tests; capacity of healthcare systems to meet the unprecedented challenge
Social-related questions: the duration and effectiveness of social distancing, length of the lock-down, effects on the mental health of the public from being isolated from society
Finance-related questions: market lock-downs, and other mitigation and containment strategies; the near-term economic impact of the pandemic and policy responses; the speed of recovery as the pandemic recedes
The strain on the market has been quite high. Prices of risk assets have fallen sharply. Many equity markets—in economies large and small—have endured declines of least 30% at the trough. Credit spreads have jumped, especially for lower-rated firms.
Whenever decisions are taken, a trend-analysis is conducted to be able to foresee different possibilities. This COVID-19 pandemic is unprecedented. What we can do in this scenario is to make educated guesses on how to keep our businesses alive and kicking.
The first thing to do is to understand and accept the fact that with the lock-down, the demand for your non-essential products and services will be low to zero. The question of how long cannot be answered. But the question of how to survive can be guessed.
With a solid cash-crunch everywhere, it makes sense to go easy on the digital marketing front. It is a logical and straightforward decision. Why promote something you cannot sell?
But we also need to take a look at the bigger picture. This lock-down is not permanent. There is a bright shining light at the end of the long COVID-19 tunnel. We might not see it now, but it is there.
And keeping that in mind, we need to make sure that we are not entirely closing all digital marketing doors. We need to keep a few windows open and keep an eye on how things will look at the end of the crisis.
Page Updated Last on: Jul 01, 2020