COVID-19 has created a wave of absolute uncertainty in the business world. This ongoing turmoil may be the perfect opportunity for businesses to reach out to consumers, and build solidarity.
Business as Usual and COVID-19 Pandemic
According to the Business Insider, the industrial production in the US posted a record low, with a 13.7% decline in April. Moreover, auto manufacturing has dropped by more than 70%. Consequently, this has dampened the spirit in the job market to a new low. In April, the unemployment rate reached a record high since the great depression with 14.7%. As economists scratch their heads, over 20 million people lost their jobs in April.
COVID-19 and New Opportunities
Despite the tremendous harm to people and the global economy, there is a silver lining to the story as well. On the flipside, the COVID-19 pandemic has led to over 20-40% website traffic growth in Industries like Food, Healthcare, Media, and Finance. Below is a chart that explains the recent trend.
So, there is a reason to cheer for global enterprises. Moreover, these hard times are also changing the way we converse with one another. For example, in the US, conventionally, supporting businesses during a financial crisis has been the norm in mainstream media. However, during this pandemic, business personalities like Marc Cuban, the owner of Dallas Mavericks have gone on record to say that the US government needs to put money into people’s pockets to spur demand. This is a major shift in the way we view the global economy. And, if this is anything to go by, we will likely witness a shift towards more solidarity between people and businesses as we fight our way together to rebuild the global economy.
Business Email Marketing
Now, you may wonder why knowing the conversation around may be important for businesses. After all, how personal can organizations get with their customers? But, herein lies the most important opportunity during this pandemic. It is difficult for people to get out there and buy anything today. However, a crisis is the best way for businesses to connect with their consumers, and strategies like email marketing can help you achieve this goal for as little as $49. Below are 3 reasons why you need to consider email marketing immediately.
Email marketing is one of the best ways for businesses to reach their consumers. Emails can be personal, yet do not breach privacy. Marketing emails also provide ample room for substantial content through long posts, while providing an opportunity for superb graphic integration, among others.
Among various end-use entities, governments use email campaigns regularly to interact with people. Moreover, according to a new report, despite the lowering spending in the economy, over 61% of consumers are ‘likely’ or ‘very likely’ to choose branded products over generics. Hence, emails with extended credibility can be a perfect way to enter the lives of consumers and guide their choices.
Increase in Engagement
The rising shift to remote work has led to increased email marketing engagement across the globe. This trend is really important for businesses to consider, as many reports reveal that remote work trends will likely continue after the pandemic. It is estimated that 18% of the total population works remotely now, with full-time job opportunities. So, if you want to invest in the future of businesses in a meaningful manner, email marketing is the way to go.
The pattern for engagement is visible across various reports. For example, email engagement tends to be lowest on Sunday, and highest on Monday. According to a new email marketing report, 22% of people tend to open their marketing emails on Monday, or Friday, the highest engagement. On the other hand, Sunday remains the best opportunity for click-to-open rates, standing at 14.7%, 13.8% on Wednesday, and 14.1% on Saturday.
Pay Per Clicks
The growing impact of COVID-19 has resulted in lower conversions for many industries. So, despite the increase in engagement for email marketing, the conversion rate for emails has gone down in COVID-19, according to Email Uplers. This may sound like a red flag for businesses; however this is what makes email marketing the tool to consider during these hard times.
Email marketing is a cost-effective mass communication tool. As mentioned earlier, the costs of email campaigning can be as low as $49. Moreover, email marketing companies are stepping up to invest in the long-term future of email marketing, thanks to changing trends. For example, Email Uplers has announced a pledge to support businesses with a banner, long-posts, and email campaign for free for a time to come.
So, while restaurants, barbershops, and retail stores are closed, the communication between consumers and enterprises is stepping up to build new bridges.
Business and Future of Email Marketing
According to a recent advisory issued by the World Health Organization, it is important for the general public to ‘Find opportunities to amplify positive and hopeful stories’. This could be an important advisory to businesses as well. And, below are some of the best examples for businesses to maintain a hopeful and empathetic tone for email marketing.
This sample above is a great email template example of inspiring confidence and tackles issues like loneliness, which have gripped people across the globe. It is important for businesses to recognize the pitfalls of issues like loneliness and remind their consumers, they are willing to do everything necessary to provide solid support.
As mentioned earlier, emails can be a great tool to communicate important information. This is especially ideal for industries like healthcare, wherein the anxiety and stress level of people is at its highest during this crisis. Check out the email sample below from Lyft’s email campaign.
For most consumers, their safety is of the utmost value to them during this crisis. This is likely to hamper some industries, especially the restaurant business. Hence, it is important for small restaurants and other businesses to ensure their consumers that they are taking every precaution possible to protect their consumers.
Lastly, Don’t Throw in the Towel
This is perhaps the greatest tragedy of our times. This crisis has spanned across continents and unleashed a wave of uncertainty, that we have never witnessed before. Hence, it is important to remember that we need to stay strong during this crisis, and perhaps, use some wisdom from people like Warren Buffett. Buffett once said, ‘Be fearful when other people are being greedy, and be greedy when other people are being fearful’. Despite the looming gloom and doom, the crisis will offer new opportunities for business growth. However, these will be far and few in between. Keep your eyes open, and invest in proven strategies like email marketing to secure your future at the lowest costs.