Currently, markets are in a very fragile position. The overall economy of the world has nosedived due to the coronavirus scenario. Businesses are in total chaos with multiple big brands closing shops and rendering millions jobless. The situation is worse for the middle strata and the smaller business organizations. The fact remains that the business community was unprepared for the same. In fact, the whole year of 2020 seems to be going in as a never-ending black cloud of confusion and uncertainty for all.
All Hope Is Still Not Lost…
A silver lining to this black cloud for the business scenario has been the opening of unlimited technical resource availability and digital markets that can get work done even when people are sitting at home. Thus, there have been businesses, as well as businessmen, and businesswomen who, owing to their farsighted digital marketing strategies, have stood up to these challenges and turned them around in favor of profitability.
‘Technology is a must’.
This is a simple statement that clearly emphasizes the importance of web and mobile presence in today’s times. Every futuristic company and brand is now online. So are its employees, so are its market, its buyers, its intended buyers, its suppliers and marketers, and its brand image. Moreover, this platform requires a fraction of investments in comparison to a physical store and has the prowess to open the doors of a world clientele. Thus, the digital world is powerful enough to make or break a business.
Digital markets nowadays have been more active and have had varied customer orientations and requirements. Let us analyze and enumerate digital market trends that we think can help businesses to finally start clocking in numbers:
Shareable Content is the new norm:
Anything that can be digitized can be transferred and shared by a click throughout the world. Your product image, content, and description files, text, videos, can be transferred within seconds. Businesses should be using this trend for direct benefit. Thus, all the company and product or service content, company descriptions, brochures, catalogs should be available in digital models and shareable formats. It is, in fact, the new ‘word of technological mouth’.
Harnessing mobile options:
The mobile world has made this powerful web more accessible by enabling it on smartphones and other handheld devices. Nowadays, there are mobile applications available to ease most of the jobs requiring any kind of human effort. These applications are playing the role of pseudo-stores available to customers everywhere. Moreover, they can be customized and loaded by customers as per their requirements. In fact, they are new business models. As per world statistics:
There are already 3 billion smartphone users in the world. Wherein China, India, and the United States are the countries with the highest number of smartphone users, with each country easily surpassing the 100 million user mark.
Thus, if a business can be helmed on a mobile application and pushed into the smart devices of the intended customer, it is no more a luxury, but rather a business necessity. Corona times have clearly proved that the coming era is dominated by online apps, and if, as a businessman, you are not looking into its development, you are lagging.
Have a mobile app already? You can further delve deeper into the mobile application development mistakes that can take away from your digital marketing strategy.
Social media is the new ‘party place’:
Amidst lockdowns and people stuck at home, social media platforms are the spaces that let people keep in touch and keep track of their friends and loved ones. With everyone spending a lot of time on social media platforms, it becomes the optimum space to advertise and sell products and services for all businesses.
In fact, a look at the customer trends highlights a new key factor of a very high number of direct sales happening within the advertising posts on ‘Instagram’, ‘Facebook’, etc. Even LinkedIn has developed as the perfect platform for B2B sales. Thus, all ‘networking’ is now happening on social media and you surely cannot turn a blind eye.
Artificial intelligence is the future:
Digital marketing is unmissable and so are its escalating costs. To keep track of both, and yet target the intended customers more effectively, businesses require artificial intelligence. It is like the ‘experienced head salesman’ of a business’s web store who knows about the clients that shall make the purchase. Artificial Intelligence provides the necessary insight into the mindsets of viewers and helps target them easily. Thus, for a successful marketing strategy in 2020, you would require it in your kitty.
A compassionate mindset:
The world is dealing with a crisis situation with no respite in sight. Things need to be sorted in one way or the other for each individual. People are losing jobs, loved ones, and lives. So, the overall environment is in a general gloom. Thus, businesses should be taking in account the mindset of the viewer as well as their intended customers. Compassionate endeavors, helpful posts, social messages, hygiene maintenance for society, etc. shall draw audiences and attract consumer sentiments. This marketing trend has already witnessed mileage gains for the biggies,
for instance, the markets have been witnessing a number of stay-home initiatives.
It could work in its own right for the medium- and small-sized entities, too.
As of now, work, markets, socializing, fun, entertainment, knowledge, education, news—everything is available online. A poor individual in Africa or war-torn Syria is able to share his circumstances and plight with the rest of the world and hope for help and reaction. This is the true power of the internet and mobile world and the connecting social media platforms therein.
Bonus tips to improve your digital marketing strategies:
Develop a buyer persona:
A buyer persona refers to your ideal customer, which is based on all digital marketing strategies you’re planning to carry out in the future. Whether you’re developing your next business-to-customer (B2C) marketing or business-to-business or B2B marketing strategy, understanding your ideal customer will bring you plenty of benefits, including the following:
- Improve customer engagement: By understanding your customers’ needs and shopping behaviors, you’ll create effective communication and marketing strategies. Having a buyer persona can help you reach more customers and more opportunities to engage with them.
- Strengthen your existing digital marketing strategies: With a clearer picture of the preferences of your buyers, you’re able to improve your existing strategies, eliminating tactics that won’t work, and further strengthen your effective digital marketing campaigns.
- More Sales: Expect more sales by analyzing what triggers your ideal customer to make a purchase, providing you with a steady flow of cash flow for your business.
Revamp your website design:
A good startup business should have an effective business plan, with clearly outlined and measurable goals. Aside from having a good business plan, effective startup marketing always starts with a great website. Establishing a good web presence is crucial for your startup business to benefit from digital marketing strategies. A good website should have appealing graphic design and content.
Here are some expert tips for creating a great website for marketing purposes:
- Color transitions: These are color transitions that were recognized in the past, and are making a comeback in logo design. Today, simple one-color logos are not enough. You can use more gradient such as blue and purple, or red and orange.
- Use custom illustrations: Natural and botanical elements strike a perfect balance between simplicity and maximalism. If you own a beauty wellness shop, you can customize illustrations using these elements. It also applies to sports, health, and online fitness stores.
Conclusion:
The fact still remains that the markets are moving. However slowly, but they are gaining back momentum. Technology has heralded a new era of digital markets. Make this power work for your business, too, with the appropriate digital marketing strategies and trending tools.