The Impact of a global pandemic on online business and marketing

Raewyn Taylor, Director - Digimedia Worx

COVID-19 has changed the way in which most businesses operate.  The impact can be seen in the global economy. However, it has also showed that in situations like global pandemics, conducting business online tends to be much more resilient because it offers a safe, contactless solution.

Streaming services are booming
People are spending more time at home, so streaming platforms like Stan & Netflix have had a boost in the number of subscribers. Due to the situation with the virus, a lot of movies were and are unable to continue to film. Premiere dates have been pushed out hence the growing popularity of streaming services.

E-commerce
Because shopping in a traditional way is still seen as a health risk, there’s been sizable e-commerce growth in 2020 and 2021. E-commerce is the safest and most convenient method of shopping. While popular amongst the younger generations pre-covid, older shoppers have now discovered the concept of buying goods and services online.

Conferencing and communication tools
The importance of having a reliable live streaming service is higher than ever with more people working from home. Platforms like Zoom are not only essential for business meetings or seminars, but also the event industry. Sure, you might not be able to host an event for 500 people, but there’s nothing stopping you from live streaming your event.

Remote work is here to stay
Companies were forced to adapt and switch to working from home during Covid. And whilst many cities worldwide are still suffering outbreaks of Covid19, those who have the virus under control are still seemingly continuing on with working from home models. Remote workers typically have more time and fewer distractions, which leads to increased productivity, a huge benefit of working from home for both employees and employers alike.  

Digital marketing and online business
On a global scale nearly three quarters of advertisers have held back on their campaign launches. Why? Mostly because of the uncertain future. But then again, people have been spending more time online. From a Marketer’s point of view, this is a huge untapped potential.

In conclusion
While some industries have plummeted during Covid, online businesses are growing. This is another indicator of our ingenuity and resilience as a species. It is also an example of when industries are able to pivot & diversify, this leads to greater resilience to threats & disasters.

Should you require further information please contact
Raewyn Taylor Digimedia Worx | E:raewyn@digimediaworx.com.au