in BUSINESS

Ever since the COVID-19 pandemic struck, many affected countries have implemented movement control orders to prevent the spread. While these efforts are greatly needed to protect lives around the world,, the economy and many businesses big or small have been affected negatively due to the sudden pandemic. It is reported that there is up to a 50% drop in retail sails due to the impact of the virus according to The New Straits Times and down scaling happening of businesses all around. 

Most businesses during these times will definitely suffer big losses. Thus, instinctively they make a hasteful decision to cut down on their costs as much as they can. However, cutting down your marketing budget during hard times might not actually be the wisest choice. In fact, businesses should do the opposite and invest into marketing instead! WHY you may ask? Well before we get to the answer, let these real life examples of well-known companies show you instead.


AirAsia Didn’t Falter 

 

 

AirAsia has faced several crises that affected their business throughout the years. Most notable ones are the 9/11 disaster, SARS outbreak, bird flu, a 2014 plane crash under affiliate Indonesia AirAsia, high oil prices, and a currency crisis. These crises affected the worldwide airline industry greatly. But instead of panicking and cutting costs, Tony Fernandes, the founder of AirAsia, decided to invest in his company’s marketing and advertising department. He stated that most companies cutting marketing during a crisis is a huge mistake and further commented that adversity is a great time to build a business.

Whereas, during the SARS outbreak back in 2003, most airlines were cutting their marketing and flights. However, Tony Fernandes tripled AirAsia’s advertising campaign during that time. Even though AirAsia didn’t completely fill the planes, the company made enough to cover the costs and also managed to establish itself in the industry.

 

General Motors Kept Their Head High

 

 

Furthermore, General Motors also did the same thing. Back in the 9/11 disaster where terrorists hijacked four airplanes and crashed into New York’s World Trade Center. It was a total disaster and a frightening time. People were afraid and unwilling to spend their money. Car sales started dropping and eventually to a halt. But, General Motors took this chance and rolled out their marketing campaign called ‘Keep America Rolling’. The company was offering 0% loans on all its cars and trucks. The campaign was a success as the automobile sales started to increase slightly and the whole U.S. economy began to see hope.

This made the rest of the automobile companies in the industry do the same as General Motors. The company estimated about 1 million total sales of cars and trucks by the end ofthe year. Thus, it was a right call for General Motors to promote the right marketing campaign at the right time. Finding the room to innovate and improve can make the big difference in boosting your business during times when your competitors are holding back.

 

What’s The Best Solution?

Now you may ask yourself, what if I invest more in marketing but it doesn’t actually reach anyone? The real question is, have you actually found where your audience went during these hard times? 

 

The answer is ONLINE. 

 

During the partial-lockdown in Malaysia, the best way businesses can boost their sales and brand is through the means  of digital marketing. Think creating engaging online content, driving website traffic, and ultimately converting sales.

Everyone is at home now finding ways to keep themselves socially fed and entertained thus the internet and social media satiates this thirst. Based on The Star Online, it shows that Facebook is the No.1 social media platform that generates the most user activity during Covid-19 which is higher than the stroke of midnight for the New Year, one of the most popular times to share. Therefore, Facebook is reliable for people as a primary way to get the latest news. Most people use Facebook to understand what’s happening with the virus and try to stay connected with friends and family, particularly as they work remotely from home.

Besides that, we can see the engagement rate of The Star Facebook page increase drastically from 25 February to 19 March 2020 including likes, comments and shares. There are 2.9k likes, 765 comments and 1.9k shares on the latest post; whereas, 737 likes, 320 comments and 155 shares on the old post. To summarize, a 459% increase in the page which means a large number of people browse social media during this period.

Digital marketing is essential to the success of your business, regardless of the industry, times of economic recession or prosperity. Whenever we talk about leads, conversions or even users reaching your website, all is solely done by marketing. Without marketing, people wouldn’t know about your brand or about your products and services. More importantly, they wouldn’t know why your products or services are better than others, in terms of pricing and quality.

Good digital marketing during these times will lead to: 

  • increasing the visibility of your business;
  • increasing the credibility and market share of your business;
  • increasing the number of visitors to your site;
  • increasing the number of returning customers;
  • increasing sales;
  • generate profit growth;

Still not convinced? Why not get a  FREE CONSULTATION with us today instead! 

An ace in Digital Performance Marketing, we at Wedialab cater only the best solutions for all your digital marketing needs. We are a passionate team of young and creative marketeers with a combined experience of more than 11 years in the digital field. We service clients from multiple countries around the world while managing ads spends of more than RM 1 Mil Per month for our clients, from executing Social Media Strategies, Web Programmatic Buying, Search Ads and many more crucial strategies.

 

 

WediaLab

in BUSINESS

 

It’s only March and the year 2020 has already been hitting hard on the world’s populace and economy. Retail businesses around the world are struggling immensely especially due to the COVID-19 spread. As far as the eye can see, the number of people in shopping malls have dwindled to low numbers. This is due to the fact that people are practicing self quarantine in fear of increasing the spread of the virus. More so, many businesses gave implemented a work from home practice for all employees to reduce team activity and social interactions. In extreme cases, some of them even halt all operations for the time being.

 

Guess What? Everybody Is Now Online!

On a lighter note, social media has played an important role in reflecting public opinion and all while connecting the people’s sentiment across the globe. In a fix to satisfy the public’s need for social interaction, social medias such as Facebook and Instagram has seen a big boom in numbers online.

Everyone is keeping their eyes glued on their phones to stay up-to-date with latest news and not to mention, shop from home. Therefore, this is the prime opportunity to invest in proper social media marketing.

 

Why It’s The Perfect Time For Social Media

As it is the right timing to publish great content on social media and run  advertisements on Facebook, Instagram, Youtube etc to keep your business afloat and ahead of the competition. Besides that, many businesses are opting to halt marketing efforts due to the outbreak thus leading to cheaper costs in running online advertisements.

 

 

Even education institutions have suspended classes and study periods to protect students and as mentioned, avoid social gatherings of large groups.

 

 

Don’t Miss Out On This Opportunity

With that being said and done. What do you guys think that is going to happen next? One thing that’s certain is that social media traffic is going to increase tremendously for the upcoming months. Why? Because everyone wants to be connected as much as possible in these times of crisis.

This is the best time to create brand awareness through social media advertising and content. It will also be cheaper to advertise online, now that your competitor’s advertising rates have dropped. Facebook will charge your company less than before.

Stop holding back and grab the  opportunity to go Digital Marketing today!

If you’re eager to know more about what digital marketing can offer, check this article out!

 

WediaLab

in BUSINESS

 

Welcome to the future! For years, people have been predicting how innovations in digital media, platforms and technology will shape marketing in 2020. And we can safely say that we are grateful enough to live in an era where technology has advanced to this point of sophistication. These cutting edge examples certainly show how far we have come since.

 

Shoppable Posts

Almost every business and company has invested a lot into their social media with a purpose of increasing brand awareness and connecting with their audiences. But what has been becoming a popular trend on social media is shopping on social media pages. 72% of Instagram users have purchased a product on the app. Even more surprising, a survey of more than 4,000 Pinterest users found that 70% use Pinterest to find new and interesting products. This in hand represents a tremendous opportunity for businesses to take advantage of. Whether you use Facebook, Pinterest or Instagram, there are now ways for e-commerce stores to create shoppable posts, making it easier for users to shop directly from your post.

 

Virtual And Augmented Reality

For many years, the technology behind virtual reality (VR) and augmented reality (AR) has been advancing at a steady pace.  What is surprising is that despite VR’s early start, AR is expected to surpass VR in popularity. Many big companies have already made use of these technologies. For example, Ikea is using AR that is integrated in an app that allows users to visualize what a piece of furniture would look like in their homes before they decide to make a purchase. It is because of these amazing capabilities that AR and VR are become a top trending marketing tactic. 

 

Interactive Content

Since content creation is already such a competition in the online space.
Many companies are always trying to make things more interesting for their customers. Today’s customers can be hard to capture just be creating content alone. They are constantly looking for new experiences and more interactivity.
A statistic of 91% of customers are keen on seeking more visual and interactive content. 3 reasons for being so are: 

Interactive content is more engaging and it stands out

Interactive content serves to keep visitors on your page longer

Interactive content is very shareable that allows for awareness to grow

 

Personalization

2020 is going to be the year of personalized marketing. Consumers are quite adept at tuning out generic ads that have no real connection to them. Accordingly, traditional means of advertising are becoming much less effective. So, what can be done? Personalize it!

In a survey of 1,000 people, 90% remarked that they found personalization appealing. More important for your business is the fact that 80% admitted they’d be more likely to give their business to a company that offered them a personalized experience.

Email lists are an old standby of marketers, and they lend themselves well to personalization. Segmented lists with personalized email blasts have been shown to perform than generic emails sent to an entire list. Don’t miss this opportunity to connect with your audience in a meaningful way.

 

Google Ads Smart Bidding

Those involved in digital marketing are already familiar with automation, but now Google has announced Google Ads updates that will likely lead to automation and smart bidding becoming the new normal.

Google Ads makes use of machine learning in order to optimize your bids. This gives you several new abilities to help you maximize your conversion, including:

  • The ability to choose conversion action at the campaign level
  • The ability to set your bids to change automatically when sales start or stop
  • The ability to optimize bids over multiple campaigns with a chosen set of conversion actions

While there are a variety of new trends to keep your eye on, that doesn’t mean that all the old methods have become outdated. In fact, there are several marketing trends that have been big in the past and are expected to continue into 2020.

 

Video Content

Since the invention of the TV, video content has always been very popular in every part of the world. Humans in general are very visual beings and being customers, they respond well to visual content, making video an important digital marketing tool in 2019. It will definitely continue to be important into 2020 and likely beyond that. On a side note, never overlook the idea of live videos. Live video platforms such as Facebook Live and Instagram live are rising in trend as it keeps your audience watching 3 times longer than recorded ones. The daily watch time for Facebook Live videos have quadrupled in a single year, and they produce six times as many interactions as traditional videos.

 

Whether or not these trends may apply to the lives of most people, one things for sure. If your business doesn’t adapt to the ever changing and evolving technological landscape, it will fall out from the competition. If you’re eager to stay afloat and find out more about digital marketing, we have a page regarding tech trends that will help you beat the competition right here.

 

WediaLab