How COVID-19 Is Affecting Global Business
Updated: May 29, 2020
There is no doubt that the COVID-19 pandemic has made a huge impact on the world. People are sheltering in place, practicing “social distancing,” and mandatory quarantines. However, businesses are suffering as well. People cannot go to work for fear of spreading the virus. Restaurants are being limited to take out and drive through. Normal activities had been limited to 10 or fewer people…now it’s those in your household, or no more than 2 people, but still maintaining ‘social distancing’.
What I'm finding rather troubling is that I see the same people going for walks at least 5 times a day, and each time is with a different person. So although there are only 2 people, surely you're not containing the spread by meeting up with various different people throughout the day?
Declared a global pandemic by the World Health Organization, the COVID-19 virus is still a bit of a mystery to most people. We are in a time filled with unknown variables and are reliant on information from the world’s respective governments and medical community. So how are businesses coping with the pandemic? How are they keeping their day-to-day operations going?
Work From Home The New Norm
Businesses that can provide remote work capabilities to their employees have taken steps to do so. This has allowed employees to practice “social distancing” while ensuring minimal disruption to operations. Travel has been restricted and many businesses are simply using a wide range of videoconferencing options to keep in touch and hold company meetings.
There are some industries that are still operating, while others have simply closed down for the time being and have offered some type of compensation to their workforce.
Schools Providing Online Education
While we may not think of schools as a business, they are…just in the business of education. School districts have either closed or moved all classroom activities to an online platform. Colleges and universities have also moved to this format. This includes hands-on education tasks and labs.
Marketing Efforts Still Status Quo
COVID-19 hasn’t affected most companies' online marketing efforts. Some organizations are posting more social media messages than usual to make up for any lost revenue streams due to “social distancing.” For the most part, if you are not using any message in your ad copy that claims to cure/prevent/treat the virus, you should not have any issues with social media content you are posting.
Make sure you review how the changing market is affecting your marketing, especially when it comes to paid social media. With people working and shopping from home, you could see an increase – or decrease – in your clicks and impressions volume. You will need to adjust spend accordingly. Also, monitor comments that people make on your posts to help reduce the spread of disinformation.
Don’t forget to pause non-essential campaigns to help reduce your marketing budget.
Communicate With Your Customers
Communication is key in this uncertain time. You will need to make sure your communications efforts are effective and efficient. Make sure they know that your hours are reduced and offer to reschedule events if possible. You may have to offer a refund to customers who placed deposits on events if they do not wish to reschedule.
If you are maintaining a “Google My Business” account, make updates on that as well. Include information about what you are doing to help prevent to spread of COVID-19. Also, let your customers know if they can order products or services online during the pandemic. Don’t forget to update any ad copy that could be relevant to account for the business changes.
Watch Out For Hackers
Finally, protect yourself and your business from hackers. Hackers are taking advantage of the scaled-back operations most businesses are dealing with. They are spreading their own form of COVID-19 in the form of malicious websites and disinformation. Be wary of any “Coronavirus Specials” that pop up over the Internet, as well as discount codes for products. Cyberattacks are being launched using these tactics.
Use caution when reviewing emails and files from unknown senders. Do not open unknown attachments or click on e-mail links. Plus, make sure you order supplies and goods from a trusted, authentic source.
Do you need help keeping your business going during the pandemic? Contact Us Today and let us help you with your online marketing efforts.
Stay safe everyone…we just don’t know how long this will all go on for!