The 2020 Coronavirus Effect and your Marketing Strategy

Is your business ready for what comes next?

From sensitization to sanitization: Let us all buckle up!

Corona virus is not how we wanted to walk into 2020. A virus has brought the supposedly the most evolved and entitled species to its knees. And the world has just crumbled like a cookie, and the economy has never been more vulnerable. Though the governments all over the world are trying to slash rates and buy treasuries, this global pandemic has put us all in a financial crisis, which seems impossible to be braved.

The worst part is pandemic now aren't limited to a country. Covid-19 has engulfed us all and the dystopian reality of deserted roads, closed signs on businesses, and empty trains have started to look more real than ever.

Businesses are hit all over. Companies are letting their staff go, and productivity is at an all-time low. China, of course, has been the worst hit as the lockdowns have resulted in a plunge of retail sales, industrial output and the fixed asset investment.

Europe and the United States aren't far left behind in this doom. Italy, which is the worst hit and mostly now the epicentre of COVID-19, is on a complete shutdown for businesses, travellers and residents. The U.S. had its ratings shot down, suggesting to cut back on spending and the need for some rigorous measures to the supply chains.

While the exact coronavirus effect is mostly unknown, a survey conducted by E consultancy and Marketing Week has indicated that businesses are already feeling the heat. The pandemic has off tracked marketing activities for almost all the companies. The launches have been delayed or under review for more than fifty-five per cent of the UK-based and North American companies.

According to Kevin Hassett, the former top economist in the Trump Administration, "The odds of a global recession are close to 100 per cent right now."

This shit is real, man.

However, when you hit rock bottom, the only way left is to go up. As businesses brace themselves against the financial crisis and #coronavirus effects, we tell you how to ramp up and make use of the time.

Slow down

We all are feeling it. Mother Nature wants us to stop, halt in our tracks, take a breath and figure out what the hell we have done. There must have been several events like Mobile World Congress (MWC) 2020 that you were looking to participate in stand cancelled. In a business, attending a trade show or participating in it, everything has a cost attached to it. As for now, it looks like money down the tube.