THE IMPACT OF THE COVID-19 PANDEMIC ON ONLINE MARKETING IN BUSINESSES
THE IMPACT OF THE COVID-19 PANDEMIC ON ONLINE MARKETING IN BUSINESSES
Maksym Zakharko
Head Of Digital Ad Operations,
Poland, Warsaw
ABSTRACT
The article analyzes Internet marketing under COVID-19 conditions. Under the conditions of the pandemic, many businesses were forced to restructure their business processes and adapt them to the harsh reality. Internet marketing in the conditions of the pandemic provides market players with new opportunities and opens new horizons.
Keywords: Internet marketing, COVID-19, pandemic, online, SMM, business, services, advertising, self-isolation
The relevance of the work is a contemporary review of the conditions of digital transformation of enterprises to improve the sustainability and efficiency of business. The rapid proliferation of digital technologies is transforming the business processes of enterprises and the way they deliver services to consumers. The expansion of new digital platforms into traditional markets (transportation, banking, hospitality, education) provokes the "squeezing out" of entire business segments. The speed of implementation of new digital solutions in market processes is so great that it sometimes causes negative attitudes on the part of significant segments of consumers and their uneven adaptation to digital services.
The global economic slowdown associated with the COVID-19 pandemic directly affects the development of Internet marketing. As millions of people have moved to self-isolation or quarantine, remote work, or no income at all due to small business closures, the use of electronic communications, and as a consequence, Internet marketing, has increased significantly.
Figure 1. Consumers interest in on-line delivery
Consumers are now interested in all kinds of delivery (with on-line ordering), on-line education, on-line services (photo, classes with children, tutoring services), on-line trade and on-line entertainment. With the development of information technology, availability of smartphones and tablets, increase in the percentage of the population using mobile devices and PCs for communication and information search on the Internet, manufacturers and distributors, following the service providers, began to actively use Internet marketing technologies to market their products[1, p. 11].
And if earlier the basic attention was given to such expensive marketing tools as development and advancement of the Internet site, market research by means of the Internet (competitors, goods and consumers), creation and SEO - advancement of Internet stores, then as competition on the Internet spaces grew, the accent of producers of goods and services was transferred to the sphere of social networks and virus marketing. [2, p. 11]
The views of Internet - marketers on the functions of the site and its promotion channels have also changed. The main criteria for evaluation of the Internet - marketing tools became cost (conversion rate and cost of the lead); duration (speed of the effect and the ability to maintain it for a long time); consistency (the need to spend time on regular actions to work with the tool) and the target (the ability to increase the most lagging figure in working with the audience). [3, p. 25].
The COVID-19 pandemic has made significant changes in all areas of the economy, causing stagnation and decline in some segments and growth in others. All branches of economy and spheres of services, continuing to function during COVID-19, began to pass actively to on-line and to develop channels of on-line promotion, with accent on SMM and e-mail dispatches.
The main trend of today is the development of multichannel trade. Such approach is dictated by customers themselves - they like to buy goods at a convenient time and place: in a store, on the Internet or via mobile devices.
Today, most companies offer separate bundles of products for different categories of customers. In return, customers themselves expect much more options for individual choice. Buyers want to create it themselves, and not just choose more or less suitable goods from the existing ones, so that they meet their needs to the full 100%. [2, p. 11]
Experts believe that this trend over time will only intensify. And in five years, the volume of the retail market of Internet commerce in Russia will amount to 2.78 trillion rubles. Despite the fact that at present there is stagnation in the overall audience of Runet, virtual stores have reserves for growth.
The development of online business in the coming years will be due to an increase in the number of orders from one person. By 2024, the share of e-commerce will reach at least 8.5% of retail turnover. Based on the results, this figure was less than 3.5%. [7]
By 2026, the very process of product selection and ordering will transform from a boring monotonous shopping experience into an exciting interactive game. For this purpose, augmented reality technologies will be actively used.
Given the current situation, there are two options:
1. Every business should strive to go on-line [6].
2. Increase the frequency of contacts with customers through social networks.
For small businesses, especially those affected during the COVID-19 pandemic, a special guide to conducting online marketing activity has been issued, recommending the following steps:
1. You need to link your map and geolocation to your website
2. Include a description of the business in your online service listing
3. Subscribe to other local pages (Local Chamber of Commerce, Local Better Business Bureau (BBB), local media, other local small businesses and small business owners.
After analyzing all of the above, we can conclude that quarantine has changed the way people are used to it. They have started to buy more online, are wary of crowded places, and do many things on their own that they used to go to specialists for.
During the COVID - 19 pandemic, on-line marketing underwent a significant transformation. The advertising budgets of large producers have decreased, so the emphasis has shifted to low-cost direct channels of communication with customers (social networks, direct e - mailing). At the same time modernization and optimization of Internet sites began, improvement of content and adaptation of their format for work with mobile applications. All manufacturers of goods and services, who had the slightest opportunity to support their business using this segment of promotion, moved from off-line to on-line.
The active development of digital technologies has led to the formation of a digital services market consisting of various sectors, one of which is online commerce. Note that the development of digital services as a promising and most relevant trend of the national economy has not yet found proper consideration in scientific papers. The development of the market of digital services in general, as well as the sector of online commerce is associated with innovative activity of market participants.
The COVID-19 coronavirus pandemic led to a series of crises in the national economy and acted as a catalyst for digital processes. Online commerce, previously seen as a supplementary marketplace, has become the primary way for an organization to continue to function and meet the needs of its target audience.
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