How Novel Coronavirus Hits The Businesses?

From CEO of Eclick Softwares and Solutions Pvt. Ltd. – “We are all on a battlefield. Don’t panic, it’s time to fight together against COVID-19”.

The Novel Coronavirus or COVID-19 outbreak has impacted the whole world badly. This pandemic is not only affecting the public health but it also affects the global economy. Most of the industries are struggling. Basically, the Novel Coronavirus starts presenting the sad realities of consumer behaviour in the digital age.

Let’s take a closer look at how COVID-19 hits markets and businesses.

How Novel Coronavirus Hits The Businesses?

Impact on the global stock market

According to the world economic picture, Novel Coronavirus has created a great impact on the global stock market. London’s FTSE100 share index has dramatically fallen. Apart from that, other European markets also start declining. Even many global players and marketers are also struggling. A number of marketing events are cancelled due to the impact of fear.

Organic traffic dies down

Due to COVID-19, organic traffic starts dropping down in many industries and companies. According to the statistics and SEO standpoint, there was a massive drop in traffic for several industries like travel, transportation, telecom, retail, software, web design, etc. The Coronavirus outbreak has impacted negatively these industries.

Conversions are dropping down

Everybody knows the conversion rate is defined as the visitor’s percentage to a specific business website that can complete a goal conversion out of the total visitors. Unfortunately, Coronavirus is affecting this conversion rate. According to the rate of conversion standpoint, there was also a huge drop in conversion in many industries like manufacturing, finance, website design, construction, eCommerce, real estate and more.

Some tips to make marketing strategies and effective communication in this crisis

Though, the saddest reality is that Novel Coronavirus (COVID-19) is quickly spreading globally, it’s not the time for panic. While it is quite difficult to forecast when COVID-19 will hit you and your business, you should always take the proper measures and assemble the crisis management team so that you are able to manage everything when a crisis occurs. You should consider 4 major tips below.

• Assemble the crisis management team
• Create alternatives to deliver your services
• Build new communication plans and several possibilities
• Pick up the proper communication channels

Whether you are the owner of a landscaping business, retail shop, restaurant, or other online businesses, you should make new marketing strategies as well as effective communication in this crisis. You can experience ROI losses in the upcoming months but no need to worry, things will surely normalize.

COVID-19 impacts many business operations around the world. As we mentioned above, everything will surely get back to normal. Many companies and industries are starting to mitigate the impact of COVID-19 by creating new strategies.

 

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