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Should you invest in digital marketing during this crisis?

Digital-Marketing
by
April 1, 2020
in Business News, Marketing
174

In the wake of the COVID-19 pandemic, the global economy has been shaken to its core, leaving many SMB’s struggling to survive. It’s a tough time for businesses, and the future looks uncertain. However, investing in online marketing may be one way for businesses to come out stronger on the other side. In this article, we will explore the reasons why  invest in online marketing during a crisis may be a smart move.

The Best Time to Double Down

Experience shows that during times of crisis, the best time to double down is when others are not. Warren Buffet famously said, “Be fearful when others are greedy, and greedy when others are fearful”. This is a time when many businesses may pull back on marketing spend. However, businesses that choose to invest in digital marketing now will have an opportunity to stand out from their competitors.

Increased Reliance on the Internet

With more people working from home, the demand for online services has skyrocketed. Consumers are relying on the Internet more than ever before, and businesses need to meet this demand. Even during a quarantine, people use Google to look for services and products. This means businesses will still require digital marketing to keep up with the demand.

Ad Credits and Cash Grants

During this outbreak, big tech companies like Google and Facebook are offering millions in ad credits to help businesses stay afloat. Google has committed to offered $340 million in ad credits, while Facebook has promised $100 million in cash grants and ad credits for eligible small businesses. This is an opportunity for businesses to take advantage of these great offers and stay afloat during this crisis. Even small businesses are offering great deals and offers to help their clients tide over this crisis. Think of potential ideas/offers for your clients. Also, renegotiate with all your vendors to see how they can help you in these troubled times.

The Need for Essential Goods and Services

The demand for essential goods and food has skyrocketed during this pandemic. Businesses like Walmart, Instacart, Amazon, Dominos, and others are hiring like crazy more than 300,000 people to keep up with demand. Once life returns to normal, the need for law firms, doctors, home services, and other businesses will fully resume. Others like restaurants will have to adapt to more online orders via website or food delivery apps.

Panic Button Pressing

The key here is not to press the panic button now and make a knee-jerk decision that might hurt your business. One such rash decision could be to halt your digital marketing efforts. We know investing in digital marketing could be intimidating during this time. But, by continuing your marketing efforts now, you are more likely to have an established presence when this uncertainty comes to an end. Thus, your return on investment will be bigger by acting now.

Conclusion

Investing in digital marketing during a crisis may be a smart move for businesses. The current situation presents an opportunity for businesses to stand out from their competitors by increasing their online presence. The increased reliance on the internet and the availability of ad credits and cash grants make this an ideal time for businesses to invest in digital marketing. So, don’t panic, and continue your marketing efforts to ensure that you have an established presence when the uncertainty comes to an end.

FAQs

Should I invest in digital marketing during this crisis?
Yes, investing in digital marketing during a crisis may be a smart move for businesses. The increased reliance on the internet and the availability of ad credits and cash grants make this an ideal time for businesses to invest in digital marketing.

What is the best time to double down on marketing efforts?
Experience shows that during times of crisis, the best time to double down is when others are not. By investing in digital marketing now, you will have an opportunity to stand out from your competitors.

How can ad credits and cash grants help my business during this crisis?
Big tech companies like Google and Facebook are offering millions in ad credits to help businesses stay afloat. Google has committed to offering $340 million in ad credits, while Facebook has promised $100 million in cash grants and ad credits for eligible small businesses. This is an opportunity for businesses to take advantage of these great offers and stay afloat during this crisis.

How can businesses adapt to more online orders via website or food delivery apps?
Restaurants can adapt by offering online ordering through their website or partnering with food delivery apps. This will allow them to meet the increased demand for food delivery during this pandemic.

What should I do if I’m unsure about investing in digital marketing during this crisis?
If you’re unsure about investing in digital marketing during this crisis, seek advice from a reputable digital marketing agency. They can help you make an informed decision and create a strategy that will work for your business.

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