With the outbreak of the COVID-19 coronavirus pandemic impacting much of the global economy, Sri Lanka was in no way spared from the crisis. The government imposed social distancing rules and extended curfews have forced all employees of companies ranging from large to small-scale businesses to work from home, halting much of the normal business transactions and activities. While this has affected the Sri Lankan business ventures on a large scale, it has also impacted sales turnover as the customer buying rate has drastically lowered over the course of the pandemic’s outbreak.
At this point of the weakened economy in Sri Lanka, your company or business may need to work hard and fast to retain your customer base and to continue to keep them satisfied with your product, and what better way to take your product to a wider base of customers than with online marketing?! Here are a few advantages of using online marketing to reduce the financial impact on your business during the COVID-19 pandemic and why it is beneficial for your customers.
1. An effective method of reaching your target audience
Marketing strategies such as social media marketing are most effective when taking your product to potential customers during a crisis period. With everyone spending their time at home due to curfew and government restrictions, your potential customers are likely to be spending their time scrolling through social media platforms in the comfort of their homes. This means there is higher engagement in your clientele with your product, backed with an effective marketing campaign.
2. A step ahead of your competitors
At this very moment, your competitors maybe deciding to halt their marketing efforts as it may seem fruitless to market their product during this crisis period. This means there is more room for you to take your product ahead to the market! Take use of the reduced online presence of your competitors during this time to boost up the customer engagement with your product to get ahead of your competitors’ marketing operations.
3. Getting acquainted with your potential customers
The more you spend time strategising and implementing effective online marketing strategies to market your product, the more successful you can be in building a community of potential customers for your business. Create more engaging content with your online platform where your customers can get to know your product in depth, effectively converting them in to paying customers.
4. Increased familiarity of your product for your customers
By maintaining relationships with your potential customers, it becomes easier for them to familiarise with your product during this period of time. Make ample information about your product available to your customers as much as possible with effectual marketing strategies, because the more they spend time learning about your product while spending time at home during this crisis period, the more likely they are to choose and purchase your product once their normal routine operations resume!
5. Post crisis success!
What you reap today, you will sow tomorrow. Instead of halting all your marketing processes due to the crisis situation in the country, why not use this time to create more awareness of your product by putting extra effort in to creating constructive online marketing strategies and engaging content for your online platform, and implement them strategically? This will keep you ahead of the competition when the pandemic eventually passes, bringing sure success for your business.