How is Coronavirus (COVID-19) Impacting Small and Medium Businesses & How Can They Respond
Coronavirus or COVID-19 was declared a pandemic by the World Health Organization on March 11, 2020. The world as we know it has been going through times of grave uncertainty trying to deal with a lot of situations that many of us may have not imagined.
While answers are few and far between, here are some basic guidelines for SMBs that are dealing with new business patterns during these troubled times.
During the first week of March Google stated that search interest for coronavirus increased 260% globally. Given the magnitude of the situation, spikes in search terms are noticeable. Due to the pandemic, searches for related topics and resources have also seen a recent swell in traffic.
DECIMARK has been keeping an eye out for actions our clients and small and medium businesses can take when it comes to digital marketing to ensure the tiniest interruption to their operations.
Understand Google and Facebook's Response to the Coronavirus Outbreak
In the wake of the medical emergency, Google has made it easier for users to search for information on COVID-19 symptoms, vaccines, travel guidelines, etc.
Additionally, the search giant has also actively worked to block content on platforms like YouTube that claim to prevent the virus in place of certified medical treatment. Google Ads (earlier AdWords) and Facebook have blocked advertisements capitalizing on the current situation with false or misleading claims.
Legitimate businesses that do not use content dissimilar to what has been described will not be affected by these policy measures. However, market changes due to the pandemic mill likely affect their business and they would be well advised to adjust their digital marketing strategy accordingly.
Analyze Your Digital Marketing Accounts
Changing market situations will affect how paid search and social advertising accounts perform. Change in clicks and impressions will lead to a change in cost. Therefore, it is important to keep abreast of developments as they unfold.
Paid search is a reflection of what the current search trends are. Therefore, if a particular service offering or a product isn't at the top of people's minds at the moment, that is something that businesses need to deal with.
Businesses need to review a decrease or change in the volume of impressions, clicks, traffic, and conversions. Google Analytics and Google Ads will be among the first to signal a change and assist in making timely modifications to ad accounts.
Announce Changes in Regular Operations
Effective, timely, and efficient communication is at the core of a successful customer relationship. Under any circumstance, advertisers and business owners need to continually build trust with their existing and future customers. The best way to do this is through email, text message, or an update on the business website.
In the wake of the Coronavirus pandemic, several businesses and stores are having to down shutters or postpone operations. In this scenario, business owners need to consider the impact on their customer relationships and take appropriate countermeasures. This can be in the form of refunds, free-reschedules, or delivery service.
A recommendation by Google is for business owners to update their operational hours and other details within their Google My Business profile. There is also the option to mark a business 'Temporarily closed'. These updates will be eligible to show on Google Maps and the Business Profile on Google Search. You can read more about some of the advantages of a Google My Business profile here.
"Marking your business "Temporarily closed" won't affect local search ranking and it will be treated similar to open businesses. Businesses offering pickup or delivery services should not mark the business "Temporarily closed," otherwise those services won't show on Google".
Tailor Your Digital Marketing Strategy
Coronavirus or COVID-19 has brought about a sea change in almost all walks of life. Repeatedly washing your hands for 20 seconds, wearing masks when outdoors, and abstaining from shaking hands is now part of the new normal. Products like cleaning solutions, hand sanitizers, face masks, antiseptic wipes, etc. are flying off the shelf these days.
Work culture around the world has dramatically changed with an increasing number of the global workforce having to work from home or remote locations. This has led to several companies implementing mandatory policies for their employees working remotely.
Industries like travel and tourism and those related to travel like hospitality, aviation, etc. are especially hard hit as most governments across the globe have issued travel warnings to their citizens.
While these changes can be stressful for business owners, the best that digital marketers can do is to put forward a clear and accurate plan of action.
Businesses that deal with in-demand commodities should ensure that their advertising plan reflects the current status and not what may not be in stock. Advertising campaigns for products that have seen a marked decline in demand should be paused and the budget re-aligned.
Businesses in the verticals that have seen a clear down-turn can look to decrease advertising budgets or pause certain campaigns temporarily. Ad spend can be diverted towards branded or established keywords that are guaranteed to generate quality traffic.
Regularly Monitor the Constantly Evolving Situation
The spread of COVID-19 has impacted the health and lives of communities across the globe and businesses are rightly prioritizing health and safety above all else. Staying up to date with the latest information and developments especially within your industry and market is key.
At DECIMARK, our expertise in digital marketing - Google Local, SEO, Social Media - and our constant monitoring of the situation, helps our clients plan and adapt their online marketing strategy during these unpredictable times.
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