2021 and the pandemic is still here. As businesses try to adapt and adverts all continually pump out "things are a bit different" platitudes, we thought we'd explore some of the impact of Coronavirus on marketing.
The impact of Coronavirus on marketing strategies
First of all, COVID-19 forced businesses all over the world to turn to the Internet. So, digital marketing services have been on the rise during this period. Of course, competition became fiercer as a result in popular niches.
By contrast, the global market has been flooded with sales and discounts. Which in turn causes the growth of the ad market. As more people stayed at home, the video game and entertainment industry boomed. In short, many changes led marketers to focus on emerging and rising niches.
Advertising and social media saw the highest growth in the last quarter of 2020. Even in the marketing sector itself, job losses and salary cuts reflect this erratic moment in History.
Today, businesses demand results more than ever.
How COVID-19 supercharged advertising agencies
Recently, 3 notable ad agencies (Magna, Zenith, GroupM) showed that the ad market plunged in the first half of 2020. But then, it continually rose during the second half of the year.
In 2021, some forecasts predict that digital advertising will account for almost 60% of ad spend in the US market. Magna confirmed that traditional advertising dropped by 18% since 2019.
According to Bloomberg, the impact of Coronavirus on marketing has been a positive one. Palmeri pointed out how Disney is collecting expert marketers for their online network. As a result, understanding the consumers and engaging them with compelling content is crucial for success.
The influencers' move
In 2021, most influencers are on TikTok. Not surprisingly, TikTok scores higher in the current ranking of mobile apps used by businesses.
Roughly, 40% of brands prefer influencers on TikTok for their marketing campaigns. YouTube is still relevant, even though better engagement is the strength of the former.
Facebook continues to attract most brands selling to older generations.
Online content creators have increased their uploads consistently. After all, the number of viewers skyrocketed.
To specify, lockdowns and restrictions confined more people at home. So, the average individual spends almost 7 hours online per day in 2021. That is, according to Hootsuite.
What about the issues with parcel delivery?
If you ever bought anything online in the past year, you might have experienced parcel delivery issues. Well, you are not alone. Half of the British consumers had the same problem.
UPS and FedEx reported the intention of hiring thousands of new employees since 2020. Yet, some problem remains to this day globally.
The impact of Coronavirus on marketing did not stop the sales. But in the end, parcel delivery issues conflict with customer satisfaction.
Nonetheless, we should see no change in the restrictions, the real root cause, until the end of the vaccination program.