The digital strategy of businesses will determine whether they pull through the tough times ahead or not. Companies have no choice but to rely on their digital strategy for survival.
Now that gatherings and conferences are almost non-existent, face-to-face businesses face more barriers than ever; companies need to mitigate losses by developing ongoing contingencies.
This is especially important for B2B businesses and non-digital industries as they are most affected and may have the least sophisticated digital growth and customer relations strategies during times like this.
Smaller businesses that rely on word-of-mouth referrals will also be impacted severely if that is the only channel that brings customers.
Digital is likely to be the clear winner
Cancelled events and plans cost larger companies millions. As unfortunate as it may be for the resource and expense spent on past preparations, companies may still recuperate some money through insurance and flexible cancellation policies. It would be wise to re-allocate these monies into the marketing budget for survival.
And as to which branch of marketing these budgets should go to, it is indisputably digital. Social marketing, content marketing, SEO campaigns and influencer marketing are more important than ever now. Even if a company has previously never used any of the listed methods, it isn’t too late to start now as the barrier to enter is low. Not sure how to start? BETA Social is here for precisely that purpose — to introduce companies to digital marketing and to establish a strong digital marketing strategy with the best practices learned through years of experience.
If your company is in an industry that is lagging behind when it comes to digital marketing, you’re in luck! Be among the pioneers of your industry to adapt and get a whole lot more of the market share. Remember, adaptability is key in resiliency. Clients will hardly allow your salespeople to walk through the door to talk about deals in this month and probably the next. Therefore, adapting means using new channels over the web or social media platforms to make sales and create relationships.
There is an increase of remote working and a collaborative approach, as well as the number of companies that are beginning to use digital channels. Companies are starting to embrace the transformation by creating or updating websites, launching e-commerce channels, creating social media campaigns, and using influencers and SEO to reach new audiences.
Some agencies have reported that traditional businesses are willing to spend the remaining marketing budgets in trying something new in times when traditional just simply does not work anymore.
Going live on social platforms
Live social platforms like Facebook Live, LinkedIn Live and Instagram Live provide businesses with a more sophisticated option in social platform use. There is value in partnering with specialists like us, BETA Social, to make the most out of these channels, to achieve better production values and more targeted campaigns.
The coming weeks, or even months, will be especially challenging for companies that are in denial or refuse to adapt and take on new strategies. The shift to digital marketing needs to be made to replace lost opportunities.
The shift to digital marketing should be strategic so instead of being just an emergency fill-in, it serves to add long-term value on normal days. With that, companies and businesses can be more resilient and ready to deal with future unpredictable events.