COVID-19 and eCommerce | How Market Disruptions Create Rare Opportunities
- Posted On: June 02, 2020
- Category: CMO Tips
- Posted By: iffelinternational
COVID-19 has been the cause of immense market disruptions over the past several months. Many businesses that previously had a steady and reliable income receivables have been rendered high risk for closure. Depending on industry, business model, and structural flexibility, there are also an equal number of companies that have benefited and grown from sudden market shifts. Marketing, particularly digital marketing, has experienced an equivalent shift in dichotomy. With companies that previously dominated particular fields through SEO and paid advertising, gaps have formed and will continue to form that will allow for underdog businesses to rise up and fill that void space. Regardless, eCommerce marketing will be an integral part of every industry.
Advertising budget cuts, was one of the sudden impacts we saw became immediately clear after the state of emergency was declared. When it comes to budgetary concerns and overall spending of large companies dominating one particular market, Google and Facebook, advertising spend dropped off almost immediately. Having to redirect funds to more pressing matters, these companies were forced to cancel large marketing contracts that have ensured digital supremacy. Now, as marketing spend has dropped dramatically, two effects have taken place. First, the cost of paid advertising spots were reduced – a short-term effect that has since diminished. Second is that websites that had been putting large budgets into becoming digital authorities in their field have had to cut back or eliminate an integral aspect of their marketing budget. As a result, diminished SEO campaigns will be causing a void to appear due to a lack of valuable content being published in that space. As a result, previously occupied digital real-estate will start to become available for new authoritative companies to take its place. Proactive business owners and executives are grabbing market share by investing in digital marketing.
SEO is a long-term investment and has lasting contributions to the value of your online presence, so it stands to reason that the companies that have allocated resources to building their digital marketing will remain ranking for some time. Usually, a campaign that has been paused takes 1-4 months to fall off, meaning that search terms that companies were previously ranking very highly for become more vulnerable to competition. For companies that are looking to grow their online presence and claim this valuable real-estate while the market has dipped, now is the perfect time, as an aggressive and lean SEO campaign usually takes around 3-5 months to start translating into valuable rankings. As a whole, we’ve seen an influx of businesses with the foresight to invest in their marketing and outreach while these ample opportunities present themselves. Using our SEO2Sales tactics at Iffel International Inc., we can utilize this shift in dichotomy to claim and solidify valuable search engine rankings.
Shifting to a Digital Economy
For small businesses that once relied on physical store-fronts and traffic, the COVID-19 pandemic has been understandably detrimental. However, with a sudden pushed towards eCommerce businesses that previously have not invested in a digital storefront an eCommerce website may be necessary for survival. Even as non-essential businesses begin to reopen, it may be advantageous for business owners to shift to a hybrid retail and digital approach. For many, the logistics of finding a space to use as a distribution center can be difficult, but as large outlet malls and other retailer locations become vacant it may be a great opportunity for businesses to step in and develop a packing and shipping center.
One of the more difficult aspects of designing an eCommerce website is mimicking the pleasant browsing experience that enticed your buyers in the first place. We have extensive experience matching business aesthetics with a pleasant and user-focused experience that will help retain and grow customer base. In combination with our SEO2Sales methodology we can increase your brand exposure and capture a national or international audience for your products.
For an initial complimentary consultation with your Chief Marketing Officer at Iffel, contact us HERE
Book a Free Assessment Today
Turn Your Website Into A Sales Engine.