As such, it’s crucial for businesses to evaluate and adjust their digital marketing strategy to optimize for this new reality and position business for success today and long after the pandemic has subsided.
The businesses that make the BEST adjustments will not only be the ones who survive, and thrive in, the current crisis, but those that will be in the strongest position when we emerge from this shutdown and the economy returns to “normal.” Keep in mind that the current disruptions are likely to reshape everything moving forward. A revamped digital strategy is not just valuable now but will pay huge dividends in the future as digital marketing and online business become more and more dominant.
COVID-19 pushed the envelope, but the writing was already on the wall – marketing is racing toward a more digitally-focused paradigm. Make sure you are ahead of the curve.
The most important thing to keep in mind is that this is not a time to stop or slow down digital marketing efforts, but a time to reorient such efforts and invest additional resources – perhaps those now saved from canceled in-person events – toward your digital strategy and online ads.
Study after study – including a prominent study of 4,700 public companies by Harvard Business Review – have proven that companies that maintain or increase their spending during economic downturns outperform companies who slash or freeze spending once the economy picks back up. You can bet this is what your competition will be doing.