Impact of COVID-19 on Social Media Marketing
As a result of the ongoing Corona Virus pandemic, the global economy has taken a beating. Major brands have had to make adjustments to their social media marketing strategies. These changes are based on three main factors.
1. Increase in the overall time spent online by consumers
Owing to quarantines and lockdowns being enforced all over the globe, social media has become the most prefered outlet for content consumption, second only to streaming platforms such as Netflix and Amazon Prime. Since most streaming platforms are ad-free, the average person’s exposure to ads in general has decreased tremendously.
2. Shift in the nature of content consumed by social media users
Research data from studies conducted on the impact of COVID-19 on social media marketing has revealed a shift in the peak time of users on social media. While earlier this would be based on the demographic and target audience of the respective brands, the peak time is currently 8 p.m. across the world unanimously. Social media users seem more interested in consuming brand content sympathetic to the pandemic at hand. Therefore, brands have changed their messaging from talking about their products to informing the consumers about what the brand is doing (like donations and/or manufacturing essential goods) to help save the world.
3. Essential and Non-Essential Goods/Services
Brand identity and brand loyalty are a thing of the past. At the current state of affairs, nobody has the means or the time to shop for fun. If the product can be categorized under essential goods/services, the consumer has no choice but to purchase the item due to shortages. This greatly brings down the options the average customer would usually enjoy at the time of purchase. For non-essential goods/services, the waiting time for delivery is practically indefinite. This leaves the consumer with almost no incentive to spend on brands.
Our thoughts and prayers go out to all those who are struggling with the virus. We hope they recover soon. Please stay home and stay safe.