With the rapid spread of COVID-19 (coronavirus) and the predicted upcoming crisis, many online business owners are starting to ask "How does quarantine affect Internet Marketing?" Many of the experienced and inexperienced specialists have started to panic about what to do next.
Human lives happen to be the main concern at the moment when talking about COVID-19. Yet is also reasonable to consider the impacts it will have over economies across the world. While the extent of this impact is not easy to predict, there are already indications that this may turn into a "ripple effect", if the latest trends should continue.
The Shopping From Home Trend
It has become clear that should this outbreak continue to worsen that online purchases will increase dramatically. This has to do with the obvious reason that more and more people are becoming more reluctant to leave home in order to shop.
Cancellations Of Conferences
Many conferences have already started cancelling their events. For example, Rakuten Advertising recently cancelled its DealMaker London event, which was planned for 1 April 2020. Google also cancelled its 6 April 2020, CloudNext conference based in San Francisco, and made the decision to rather stream it.
Travel Is Predicted To Suffer
The chairman from the IAC has stated that Expedia could earn $30 to $40 million dollars less as a direct effect of COVID-19. Travel is already one of the vital affiliate niches in itself. Yet this will also have an impact on the local-based businesses in both the hospitality and restaurant niches.
The Threat Of Product Shortages
The Harvard Business Review has predicted that the impact of COVID-19 on global supply chains has already begun, which has forced thousands of businesses to either shut down manufacturing and assembly plants or drastically throttle down operations.
The companies that are the most vulnerable at this stage, are the types that solely or heavily rely on the factories based in China for materials and parts. The manufacturing plants have also fallen over the last few weeks and is predicted to stay depressed over the coming months.
The COVID-19 Impact On SEO Consulting
The search marketing communities seem to think that SEO is about ranking as high as possible in the different search engines. Yet ranking is not the only goal, it is just one of the means. The primary aim of ranking has to do with sales.
Ranking in the top positions won't mean much when sales start to disappear, which is exactly what occurred in the 2008 recession when sales started collapsing across a vast range of different industries.
This also had an impact on search marketing as clients started to drop off as they were no longer in the position to afford to pay for this type of consulting. Some of the industries were able to carry on earning, yet just as many were forced into discounting their fees in order to keep their long time clients.
Tips On How Businesses Can Use SEO Marketing To Deal With The Coronavirus Impact
Keep Calm And Carry On Optimising
This is definitely not the time to give up or panic. There have already been many clients that have shut down their marketing operations and pulled their contracts. This is a reaction that could set businesses up for an uphill, and long-term struggle in order to recover.
Regardless of whether the business is a small-sized retail shop, a family-owned and operated restaurant, or a landscaping company, or any other type of privately-owned business, there is the real threat of experiencing a loss in revenue over the next few months.
Budgeting For SEO And Marketing During The COVID-19 Pandemic
When it comes to high-growth businesses, most companies budget between 10 to 12%, yet for maintenance purposes, 7% should be the absolute bare minimum. This should mean that for each 100,000 in gross revenue, the company should have a minimum of 7,000 earmarked for marketing and advertising per year. It is vital that businesses maintain this marketing investment level throughout this pandemic.
Inbound and SEO marketing are considered a longer game. For many businesses, they have already invested heavily in building this workflow and processes, making sure of data quality along with consistent measurement, attracting and building a customer base and audience and, creating content of quality that ranks.
This is an essential time for businesses to remain on course or to tackle those marketing and SEO tasks that could become potentially impactful. Whether the business handles marketing in-house or works with agencies, these are the tasks that teams can get to work on while working remotely or self-isolating.
During economic downturns, many businesses can take advantage of the fact that there is going to be a lot less competition. This usually means that it will become faster and easier to achieve results when it comes to their SEO marketing efforts.