Markets: – A constantly changing Landscape
COVID-19 pandemic is a Humongous problem for companies everywhere, and it’s practically impossible to ignore the issue – it has changed the way business is executed everywhere. Many owners and work managers are failing to shift the regular marketing strategies to a digital marketing (The new normal). They are overlooking the situation because perhaps they have hope that some sudden turn of events towards normalcy will occur in the times of chaos. Whatever may be the cause but this inability to adapt will cause grave concerns to the economic survival of the company. Indian Markets, for the past few years, are constantly in a transition.
“Market is about two things, Marketing and Sales”
Online Shopping has been one of the major causes of loss to many Retailers and even whole-sellers, especially in urban localities. Because online markets are controlled by big multinational companies they marginalize their profit shares to such a low that, shopkeepers fail to catch up with them. So shopkeepers joined hands with them, this move was beneficial for both as the Online platform’s variety received a boost and reach of Shopkeepers increased to farthest corners of India and World.
Many organizations have shown great adaptability by appointing digital marketing. This pandemic has made it absolutely essential for any trader, businessman, or Shopkeeper to appoint Digital Medium of Marketing and sales.
- The impact – COVID: 19 on Market
There is no business which lies unaffected by the pandemic. In turn, this unaccustomed reaction has had a detrimental ‘trickle’ effect on larger B2B companies work as providers to these smaller businesses.
Every business, be it your neighbourhood departmental store or an enormous multinational firm, can benefit from digital marketing. Customers still need the products and services as much as ever—what these companies need to do is change the way they reach their target audiences. Even if a small enterprise doesn’t have an online page or portal (one in four do not have), it’s not very late to join in the businesses that are thriving online.
- Coming to – HOW TO?
It’s time for the affected businesses to make the transition from a fortress store to a digital provider by contacting their customers, reviving unused online assets like websites and social media profiles, and pedalling full speed ahead.
- Shifting daily operations online
There are very few organizations that cannot make the transition of their daily operations. Credit to video conferencing applications like Zoom, Skype, and many other executives and managers can communicate and impart instructions to staff and hold client meetings from anywhere.
- Sales teams can take orders and reservations and provide services to customers via email, chat, or video. They no longer have to commute; they can even start work early leaving customers with longer support hours.
- Services that were previously delivered in person are surprisingly amenable to video presentations. Clients can pay online and receive a video link to live sessions.
Many businesses are cutting costs on their marketing efforts due to COVID-19, but what they should really be doing is grabbing advantage of the new opportunities that are rising.
This emphasis on digital marketing is not something that they’ll want to slow down on once the lockdown ends. Online shopping is going to stop no-time soon, and most companies will find those web-based interactions to be convenient than in-person meetings.
Stores will reopen but alongside newly adopted ways of selling and engaging with customers.
Talking of Digital Marketing, Digital Services, Digital India, we find one thing common that is Digital. Technologies and Gadgets are sure to expand and improve and in the process, a large number of job and services opportunities will emerge in Technology Development, Gadget Repair, Software development, coding, Data encryption, Data decryption, and Data Handling spheres.
India has the largest workforce worldwide but India stands nowhere in the list of Developed nations. The reason cited for this poor performance is the lack of skill in the workforce. Blaming only the individuals is not right because the Indian education System plays spoilsport due to its monotonous behaviour.
A number of govt. backed Skill Development programs have been launched recently but the major hurdle in the success of these programs is insuring proper implementation.
To grab these upcoming opportunities and chances by both hands we need to be prepared, these opportunities will demand skills like familiarization with Gadgets, computer languages and other technical know how’s? Those, who will fulfil these needs, will surely get an edge.
- Author’s Take
While digital marketing may be regarded right now as an emergency plan, but by the time this is over, everyone will likely realize that it’s more than a temporary measure rather than a sustainable one. So “GO DIGITAL, BE FUTURE READY” and upstage and up veal everything.
~By Shubham Yadav