24-Apr-2020 04:44 PM Digital Marketing
Coronavirus shook the whole world with its unprecedented effects. Almost all sectors are at a tipping point trying to cope with these effects. How does this situation affect B2B marketing? How can B2B marketing be remodeled to meet the post Corona demands? Is moving the B2B marketing online as promising as it looks?
In February and March alone, the Corona fear led to an increase in cancellations and rescheduling of several major events, with a loss of tens of thousands of dollars. Marketers in home isolation are racking their brains to come up with ideas to redefine their marketing strategy. At this crucial time, it is wiser to adopt significant changes in marketing rather than playing it safe. So it makes perfect sense to move B2B marketing online and meet the crisis head-on.
There are certain companies, especially those in the healthcare sector and online streaming services, around the world that are positioned to benefit from this situation. However, most others are facing a number of challenges:
The companies which were on the path to success are now finding it difficult to maintain a steady revenue.
The unexpected lockdown around the world is directly impacting global supply chains. Hardware, B2C, and retailing companies are at a higher risk while software companies, even though least exposed to supply chain disruption, are also facing challenges due to the economic slowdown.
The situation has hit travel companies the most as they are directly in the line of fire. B2B companies are none the better as most of them depend on in-person meetings/events for business development and sales.
One of the main advantages of going online is the absence of face-to-face interaction, which saves a good amount of time that can be put into updating corporate websites. Digital marketing also makes the outcome of online events measurable. This is a great opportunity to polish all the features of the company's promotion strategy like website content, SEO, content marketing, and social media. The selective building of online marketing efforts will reduce the risk and keep the company afloat in these difficult times.
The ability to adapt quickly to the customers’ change in lifestyle and priorities is the biggest trait of successful brands. People are turning towards their smartphones to alleviate the feeling of boredom and isolation. And, those companies that can adapt and offer them value during this unfortunate time will win their loyalty. Customers tend to stick with companies who stuck with them. It’s simple logic. Offer customers value through top-notch content. This will help businesses overcome this situation and emerge victorious.
This is the best time for marketing executives to revamp their websites in order to ensure that their company is well presented. Reset the goals for marketing campaigns and closely evaluate the performance of past efforts. An in-depth look will help you understand the real needs, with which you can create the best digital marketing strategy exclusively during this pandemic.
You never know what is going to happen. But it is crucial for your business to adapt quickly and overcome challenges.