The outbreak COVID-19 is considered the hardest crisis to face the global economy recently. Some analysts even put it comparison versus the Get Depression of 1929. With this overwhelming crisis, there had been lots of news stories, analysts’ opinions and articles. But, to keep it simple; this piece is presenting five concise and statistically based messages:
1 – Make Sure to be Among Winners
No crisis could be having all-negative impacts, always there are winners and losers. A survey by Klaviyo showed that while about 45% of businesses suffered from sales decrease; but there are yet about 24% of businesses benefited from sales increase; especially the essential sectors: housewares, food and beverage, health and fitness.
2 – Defend the Advertising Spend
According to Klaviyo, more than 75% of companies keep spending for advertising at least with the same levels or even more, as most of brands noticed that cost per 1,000 impressions (CPMs) got down and cost per click (CPC) is the same or ever lower.
3 – Leverage the Higher Media Consumption
According to Nielsen, the consumers are spending more and more time online; and this led to some 60% increase in the amount of content they tune in. With the social media is in the center of this media consumption; consumers tend to be more engaged with social media conversations as they need to stay connected, informed and actively advised.
4 – Leverage the Higher Technology Adoption
People; and businesses; found themselves, and all of a sudden, having no option except more technology adoption! in fact, this is the time for companies to invest in technology solutions, according to a research published by one of the S&P Global Marketing Intelligence Firms, about 75% of firms worldwide are expanding work-from-home policies and thus investing significantly more in a group of the supporting technologies
- Employee communication and collaboration (43%),
- IT infrastructure; internal & cloud (35%),
- Mobile devices and services (37%),
- Bandwidth and network capacity (32%),
- Information security (28%).
5 – Tune your Thinking in a Post-Crisis Mode
In the normal crisis situations, businesses strive to find a solution. However, the COVID-19 outbreak is not an ordinary crisis that is going end and to leave the world as it was. NO! in fact the COVID-19 is a life changing crises; your actions in response to this crisis would be – in the most of cases – a permanent policy. For example, 39% of companies affirmed that their work-from-home measures in the current crisis would be then adopted as permanent business policy (according to a research published by one of the S&P Global Marketing Intelligence Firms).