We never know what we are capable of until we go through it. This is proved by the way digital marketing is catering to its consumers during this pandemic. Economists are of the opinion that a whole new world will open up for digital marketing post-COVID-19.
Digital marketing has become an important alternate source of income for years now. Starting from online shopping to online work, digital marketing has only flourished.
As the world is reeling under the pressure of staying at home, digital marketing strategies are being revised time and again to cater to the consumers.
With stepping out of the house becoming a big no-no, digital marketing post-COVID-19 must ensure that we have all our needs one click away.
In 2018, India recorded 120 million online shoppers. Having a CAGR of 25%, the online shoppers’ count is expected to reach 50 million by 2025.
But with the ongoing pandemic, online sales have hit 100 %. Be it work or groceries, everything is available online. This has made it clear that digital marketing is the future.
The Digital Boom
The present pandemic situation has already paved the way for the rise of Digital marketing post-COVID-19.
People are opting for everything online. Be it clothes, utensils, everyday essentials or medicines. With more and more companies going online, the online sales too are on the rise.
As the approach of the consumers are changing, digital marketing strategies are being changed to bring in new upgrades.
Not Personalized but Integrated Approach
Digital marketing has to keep reforming with the changing needs and demands of consumers.
Since almost the entire world has moved online, experts suggest digital marketing post- COVID-19 era must have a more integrated approach.
By an integrated approach, experts mean that the brands must keep track of changing behavior patterns and needs of the customers.
Earlier digital marketing focused on a more generalized approach. It aimed at serving all the customers in a general way but presently it should have a more personalized approach towards the demands of the buyers.
Marketers must read customer behavior and upgrade their services from time to time to hold their place in the market and stay ahead.
Diaz Nesamoney, who founded Jivox just before the financial crisis hit 12 years ago opined that marketers in the post-pandemic era have to change their approach towards digital marketing.
Talking about the changes that can be made, Nesamoney said that Marketers have to understand which technology is useful to them, how they can save money, and how to recover their business from the ongoing loss.
He further added that business models should be based on the above parameters and rest should be discarded if they cannot promise true marketing ROI.
In this context, the traditional funnel structure comes into play. This business theory tracks consumer behavior from the time he searches for a product until he makes a purchase.
But, the digital marketing post-COVID-19 will take a new turn and previous strategies will wear out.
According to digital marketing strategies, carefully placed ads on social media or relevant searches on e-commerce sites have been a way to attract the attention of consumers.
Similarly, product reviews and specifications have also played a role in catering to the interest of the customers.
However, if the digital marketing post-COVID-19 era still focuses on the funnel structure, it may miss out on the changing behavior patterns of the consumer.
ROI is the Key
As more people move online, a company needs to work more on its brand presence online. It must also focus on marketing their products online.
All the high Return on Investment (ROI) tactics including tools, advertising, digital channels, and conversational marketing will witness a considerable increase in the investment during and post coronavirus.
Digital Marketing as a Profession
According to economists and market researchers, digital marketing post-COVID-19 era is going to go through a distinct transformation. As per their opinion, the major business will shift online while restaurants and physical stores will only remain as an alternate recreation.
A study revealed in 2017 that the need for digital marketers is 56 %. However, marketers catering to the needs stand at only 24 %.
Digital marketing would certainly be needing more manpower by the next year. The need for digital marketing experts will be on the rise. Entrepreneurs will realize the changing market demands and may shift online with their business.
More outsourced work for India
As the youth embraces digital marketing, India will witness an increased workflow from outside the country.
With the changing digital marketing strategies by the new generation, foreign companies are likely to approach Indian marketers virtually to enhance their consumer market.
Related Professions to Make Way
Mirko Martich, Nursen Ulker, Nitin Chaturvedi, and Brian Nuwadi wrote in ‘The Future of Retail Supply Chains’ that several supply chains are unaware of how to tackle the speedy demand and convenience in a way that is cost-effective. They also added that most businesses are already subdued under the new world.
Digital marketing is not only about marketers and consumers. Digital marketing post- COVID-19 will demand experts in several other related fields. For example, the need for good website designers will rise.
Data Analytics to analyze the changing behavior pattern of consumers will also be in demand.
Small and Medium Brands to Join Hands
Digital marketing post-COVID-19 era is also likely to observe a unison of small and medium businesses with big brands.
As the online world grows bigger, changed digital marketing strategies will demand businesses to partner with other brands.
As for the small and medium brands, it should be a big leap. Often such brands are not able to cater fully to the growing demands. By partnering with bigger brands, it will help them to meet such demands and work with new models.
As for the consumer, a one-stop-shop is the best alternative to physical stores or malls.
As digital marketing records more traffic each day, the rise of the virtual world seems inevitable. Consumers are feeling safe as well as well-catered to shop online. Digital marketing post-COVID-19 era is going to open a new virtual world that we are yet to imagine.