Since the outbreak of the global pandemic COVID-19, many businesses are on a huge loss, but digital marketing agencies might, in fact, leap forward due to the novel Coronavirus. However, to leap forward, agencies need to concentrate on new planning, customer needs, and communication strategies. But, before that, if you own an agency, then you first need to know what impact will COVID-19 have and how things will change.
What changes will it cause on marketing strategies
Due to the effect of COVID-19, at some level, the product market has also been altered for nearly every category and there have been clear changes in online demand and supply. As a consequence, digital marketing agencies should focus on their own product-market fit and also of their customers. This will be the most crucial exercise for the rest of 2020.
How can you win?
You need to concentrate on your customer and improve your strategies around their new challenges. For instance, there has been a drastic decrease in the searches “near me” terms while a surge in terms like “delivery”. There has been a 15% increase in the traffic of YouTube whereas at the same time the advertising revenue has fallen down. Digital marketing agencies need to change their pricing, their services, and the way they take clients to the market.
What changes will it cause in organizations
Without any doubt, due to this pandemic, the way all the organization’s functions will definitely change for a short period of time. Working remotely, the employees and the employers will get used to the current habit. In most cases, rent is not cheap and as a general rule, the profitability in the agency is low. Typically, agencies have between 5% to 30% of net profit and among that cost, rent plays a big part as the agencies usually love to have a good office which helps them to attract staff and surprise the customers. But, if the staff wants to work from home and the customers don’t want to meet in the office, then it’s a big advantage for the company. The best thing is that these savings or money can be invested more in employee success and client success.
But not having an office can lead to bigger problems such as the absence of team or company culture, lack of collaboration, community, and much more. It always feels good to work in an office together with your teammates. Without an office, the agency owners may face challenges related to management and will need to focus on accountability, and operations like:
● Regular show-up with team
● Per week responsibilities
● Time management with clients
How can you win?
This is the duty of every agency owner to decide, but, for the moment a few key things that might help an agency to function properly including video calls are;
● Non-work related things or chatting with team members
● weekly multiple department check-ins.
What changes will it cause in communication?
Usually, clients love to interact with you or have an in-person meeting at their organization or at your organization. They love to enjoy a cup of hot coffee or have a quick snack break. But now, everything has completely disappeared. This puts up a necessity to everyone who attends those meetings just the same way they would do in person, but through a video call.
How do you need to show up for a video call?
Dress up nicely as you dress up regularly for your office, comb your hair properly, and make sure you are sitting in a bright and tidy room with a decent background that is presentable. Also, a nice set-up can definitely impress your clients.
Now imagine a scenario, where you are having a video call with one of your staff members who are in a sweatshirt, messed up hair, sitting in a dark room with their laundry falling apart on the floors. Now imagine a second scenario, where a second staff member is all dressed up nicely, with nicely combed hair, and has clear lighting on their face along with a whiteboard in the background with the company which can be used to note down the essential things. In the course of the meeting, you watch your digital marketing strategies are being mentioned and the same has been delivered to you. It is a completely new experience- the one that you’ve grown to believe in a professional environment.
More and more businesses are going digital and so will the marketing. It is important for marketers to think about the buyer persona and updated strategies. Digital marketing agencies need to respond effectively to employee needs, new customer strategies, and communication strategies, in order to thrive during this pandemic that has impacted everyone around the world.