The novel coronavirus has left the global economy in shambles. A lot of industries are incurring heavy losses and unemployment rates are rising steadily across the globe. Companies across multiple industries fear that the economic impact of Covid-19 will be felt for many years to come. The ramifications of this outbreak would be primarily felt on their long term profits and conversion rates.
In this time of crisis, businesses need to realign their strategies and focus on building customer trust and loyalty to optimise conversion rates. With the widespread feeling of fear and uncertainty, businesses must understand and prioritise not just the essential needs but also the emotional needs of its customers and employees. This is a vital step to gain brand loyalty and achieve long term success and sustainability.
The conversion rates for most industries such as travel, construction and transport have taken a massive hit in the last couple of months. The only industries that seem to have seen growth in their CRO are Food, Pharmaceuticals, Media & Healthcare. To ease the impact of this pandemic, businesses need to analyse the current shift in consumerism, restructure business and marketing strategies, cut out loss-making areas and focus on revenue-making opportunities.
Here are some strategies for you to focus on to maintain and revive your conversion rates during this pandemic
Trending keywords and topics
As we mentioned in one of our previous articles, SEO is one of the best investments that businesses can make at this time. You need to stay up-to-date on the latest trending keywords and key phrases that people are talking about right now. Incorporate these trending topics into your content and use your platform to distribute important information. Create personalised content based on your target audience. This will help your business to build loyalty and trust among your customers. These keywords can help you gain insights into the consumer psyche. These valuable insights can help you build a more customised and personalised service/product.
Given the current situation we are in, it is not wise to blatantly promote a product. Businesses need to realign their digital marketing strategy to ensure that their campaigns don’t come off as opportunistic or tone-deaf. Hard selling your products or services can backfire. Companies need to show their support for the fight against the novel coronavirus. There are multiple examples of big companies like Zara & ExxonMobil using their facilities to mass-produce masks and sanitizers. These are the stories that the public wants to hear about. Therefore businesses should move away from aggressive product advertising and instead focus on highlighting their humanitarian efforts.
Businesses need to maintain constant communication with their customers to give them a sense of belonging and safety. Use multiple channels of communications like emails, social media, text messages, apps and websites to keep your target audience informed and updated. Businesses need to assure their customers that they are operational and taking vital steps to ensure the safety of employees as well as the customers.
People are turning online to find information related to coronavirus. Sharing vital covid related information will help your customers stay informed. Sharing relevant content that would resonate with your target audience would really help you build brand loyalty and enhance customer engagement.
Update ad messaging
Many companies are updating their logos and taglines to reflect the current global climate. Tweaking and rewriting your ad messaging can help to avoid a negative brand experience. When your customers feel like their emotions are being taken into account, you are more likely to see higher conversion rates and more positive user experience. This can have a massive impact on long term profit and brand loyalty.
With the novel coronavirus affecting countries differently, it’s important for companies to focus on diversifying their digital reach. By including different geographical regions companies can increase their traffic. Creating region-based content can help you increase your organic traffic, and in turn, help increase conversion rates.
Companies need to adapt to the change in consumer behaviour and realign their business strategies to stay afloat. Companies need to communicate with their customers and understand what they need. Building trust and loyalty is a critical component of any company’s strategic growth plan that helps them to achieve higher conversion rates. At Alkye, we specialise in CRO to help your digital business maintain and increase sales and drive forth the growth of the company.