History has shown that new threats always present opportunities for new ideas. Organizations that will thrive in the post Covid-19 era are those that embrace digital marketing now to scale their businesses.
Early 2020 introduced an invisible creature that put the world into a quagmire – the COVID19 pandemic. It has indeed been a crazy year for everyone throughout the world, including businesses. However, history has shown that new threats always present opportunities for new ideas. Only those who embrace those ideas succeed in this evolving world. For businesses, we will explore the subject further in this blog as it relates to Digital Marketing.
Disruption of the global market by COVID19
It became hard for many businesses to keep their wheels rotating during COVID19. The icing on the cake is that, shockingly, various big corporations (the least expected ones) collapsed during this period. According to AlphaSense, over 100 companies filed for bankruptcy amidst COVID19, where May 2020 presented almost 50% Year-on-year increase in bankruptcies filing. The GDP of leading countries has significantly dropped. With the World Bank’s estimate of global GDP shrinkage by 5.2% and IMF’s projection of global economy reduction by 3% in year 2020, the situations seems only more worrisome.
Where many firms collapsed, a few converted this challenge into opportunities for their business to grow. Other than the obvious pharmaceutical companies and hospitals, the big names on the list includes Amazon amongst online retailing service providers, Zoom amongst workspace solutions providers, and Netflix amongst entertainment service providers.
See anything common among these service providers? They’re the players in the digital services industry.
What digital marketing has to offer to businesses
The buzz word ‘digitization’ is not new. In the growing Internet era, various companies have been working on digital transformation for over 5 years now. However, when 2020 displayed an opaque path for businesses to run, it was the first time when this generation witnessed an economic as well as humanitarian catastrophe. Not only small but also big firms were on the verge of devastation. The situation only reinforced the need of digital marketing as a ray of hope for businesses to survive.
Digital marketing in the UAE
Amongst developed economies, the United Arab Emirates, mainly Dubai’s digital marketing strategy has done wonders in the recent past. In a brief period, the businesses of Dubai shifted from conventional business operations to digital solutions. It helped the UAE’s economy stronger with a way paved for further advancement.
During the past seven months, international organizations witnessed rapid growth in digital marketing. In Dubai, more than 62% of transactions on the Internet made on mobile phones. Social Media has a significant impact on the UAE’s digital market. According to Hootsuite, 99% of UAE residents are active Social Media users, providing a larger room for businesses to explore.
Digital marketing and the post-COVID19 era
Some countries have defeated COVID19 and are in process of getting back to routine lives, while others continue to fight it. However, in the post-COVID19 era, the new normal will differ greatly from the previous one. Therefore, business will have to continue to rely upon digital marketing strategies, instead of returning to conventional methods.
If you also want your business to grow while using digital marketing strategies then, there is no better place than Fitch Technologies. Let us work together to drive growth for your business with our digital marketing solutions. To learn more call +971 4 244 1163 or visit mail us at [email protected]