Updated: Sep 15, 2020
The answer is at the root of business growth
Since COVID-19 reached the United States the Business world has had some hiccups, and we’ve even seen the death of businesses. However on the marketing side of businesses a complete revolution is happening. For the first time in the digital age most businesses are being forced to keep up with technology or perish. Why is this? Is what you may be wondering. Allow me to elaborate.
These days digital marketing methods now account for more than 50% of marketing budgets in most companies, and this is only going to expand from offline tactics. Before COVID-19 people were out and about which allowed offline marketing to flourish. This allowed business owners to market how they please via influencers, direct to social media, Blogs, Posters, Business Cards, etc. With this kind of environment marketing was still dominated by who had the physical ability to be in front of everyone. However unknown to those being so successful with offline marketing a new method of easily reaching billions of people was being exploited by the first to realize the amazing features of social networks.
In 2018 U.S Businesses earned $107.5 billion from digital marketing. It became apparent that this was a considerable way to solely do marketing. Although there was no real need to stop doing things the way they have been doing them. The infrastructure has been in place and reteaching/or hiring new employees/or a department is costly. However after the pandemic swept the nation a large shift in marketing budgets also swept the nation.
Mobile data traffic surged 380% in March alone. This is just one of the recent effects COVID-19 has had on consumers. This also means that consumers aren’t looking around but looking on their phone. So unless you luckily catch them when they glance up for a moment, their mobile phone has won. Mobile devices aren’t the only electronics being used more. Video game use is up to 60%.
209.6 Million U.S. consumers and these figures are projected to reach 230.5 Million in 2021. In the U.S alone we have a massive online consumer base that is slowly starting to be targeted more and more. To even the game search engines and social networks alter their algorithms to keep those that know what they’re doing in front leaving everyone else behind to perish.
Anyone can see after reading the facts I've presented that the general use of electronics has boomed since COVID-19. This fact along with government regulations on business operations has caused a huge ding to the effectiveness of offline marketing. Businesses that didn’t stay current with technology and innovate are getting left behind. Businesses such as Remington, Ascena Retail Group, JCpenney, Hertz, and more have filed for bankruptcy since COVID-19.
Innovation is what will drive a business forward. Current Technology is the key to innovation because without new elements to the equation then you can’t get a new outcome. Digital Marketing is the new element that technology has bestowed upon us and as digital marketing grows and changes businesses will have to adapt or perish.