Coronavirus is spreading at an alarming rate all around the world, and here in the united states. This is effecting the global economy and marketing efforts in a major way. When consumers are scared, they become less interested in the frills being marketed to them and more concerned with self-preservation. Here are a few ways your marketing efforts may be impacted by a global pandemic:
With the potential of imposed closures and possible curfews, having a mass number of employees in one area may not be safe or possible. Along with this, a huge amount of the workforce will be effected, not if but when, this virus becomes widespread. With a long incubation period, it’s possible that the virus will affect a large amount of the workforce before they even know that they are sick. The effects of this will be worldwide and deeply felt if pandemic levels are reached.
Less Focused Consumers
Consumers that are fearful are no longer driven by wants and desires which makes marketing to them a huge challenge. Marketing efforts during a pandemic should be focused on helping the consumer and making them feel safe and more well prepared. Pressing urgency during this time is not an ethical or practical way to gain business. It will on spread more panic and fear.
With travel restrictions already heavily in place, and travel hubs being a hot bed for possible virus exposure, leisure travel is at an incredible low. Popular destinations are closing, and those that are open are seeing less and less visitors because of fear of contamination. Marketing for travel during this time is likely fruitless and won’t make a scared consumer want to travel. Offering specials and lower than ever rates may help keep less weary travelers moving. Another way to market travel during this time is to highlight sanitizing procures that are being followed and reassure travelers of their safety.
Supply Chain Disruptions
During a global epidemic, sometimes marketing efforts need to be slowed. This is a result of supply chains being interrupted. With massive amounts of people not reporting to work all over the globe, shortages are inevitable, making advertising certain products and services pointless.
When your business is suffering and you’re preparing for the future, cuts in your business need to be made in the short term to help you stay afloat in the long run. Cutting your marketing budget during this time might be your first thought. It may help alleviate stress in the short term but it could cause more damage long term. Consumers will remember that when things got hard, you disappeared. Instead of cutting marketing budgets, reallocate them. Digital marketing is agile enough to survive pandemics and epidemics primarily because people don’t have to leave their homes to be reached.