Entrepreneurship in the Covid-19 Era

The COVID-19 pandemic has turned out to be the most significant disruptive event witnessed by this generation. From mainstreaming remote working, cutting global travel to a comprehensive digital shift, the outbreak has changed the way businesses are executed. This transformational effect is not momentary; it is significant and is here to stay.

One of the most notable elements of this transformation is the way organizations have been forced to embrace digital marketing to be able to survive the crisis. As traditional marketing strategies stand curtailed due to the pandemic, businesses have moved quickly to embrace digital marketing and transform the way they attract and engage customers and clients.

As people stay indoors, malls and roads stand deserted there has been a shift to space where businesses and customers interact less physically and more through the online route. Digital services providers will tell you how there has been a surge in organizations seeking to create new websites or update existing ones, creating elaborate social media campaigns, and launching new e-commerce channels. Intelligent content creation and SEO are other elements that are receiving a fresh focus from companies. Truth be told, organizations that embrace this transformation quickly and more comprehensively are the ones that are more likely to survive compared with those who are resistant to change.

Here are some more changing phases of entrepreneurship that are adjusting the ‘new normal’.

The Age of Webinars  –  As live conferences and face-to-face engagement activities take a backseat, organizations are working out new ways to engage with customers. Webinars have emerged as a very popular way of achieving digital thought leadership and getting quality leads. At the same time, customer engagement is also taking place with these digital discussions. That’s why there is a sea of webinars everywhere to spread the message. Even when the crisis ebbs, people are likely to continue to conduct a part of their thought-leadership events through webinars as more and more people realize that they serve the same purpose at a fraction of the cost. Webinars that have now filled the gap of traditional conferences are likely to become a mainstream marketing strategy in the new normal.

Increased usage of data analytics  –  In a digital age, data analytics has always been a value proposition. However, as organizations increase their digital presence, the importance of creating useful databases has only increased. With more people spending a longer time on social media, their chances of seeing ads on such platforms or coming in touch with content marketing blogs are greater. This is why organizations now need to create valuable databases, analyze them, and use this information intelligently to reach out to the target audience. Tracking patterns of consumer behavior, tracking online traffic patterns, analyzing which content retains the customer, and getting a break up of which products are enticing what type of customers are essential elements of data analytics that organizations need to use more to boost their online sales.

Content is the King

Businesses must focus on expanding social media presence by creating intelligent and attractive content. With the shift from outbound marketing to inbound marketing, it becomes essential to engage consumers in subjects they might find interesting. However, it is important to understand that content distributed on social media should not be promotional in nature as it kills consumer interest. Your content must be knowledge and awareness-based. It must engage consumers emotionally through human interest stories rather than blatantly promoting your product.

Courtesy Dr. Narendra Shyamsukha
Founder & Chairman, ICA Edu Skills

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