Implications of Coronavirus on Small Businesses
The COVID-19 Coronavirus made its debut during the first few months of the year 2020. Since its inception, many have fallen prey to it and lost their lives. Even today, as we lockdown, millions are testing positive worldwide.
The deadly Coronavirus has changed the way we live and transformed the way businesses have been running all these centuries. We have seen hundreds of companies shattered. Many companies shunned their operations during the COVID-19 coronavirus lockdown and quarantine times. At the same time, we could also see the budding of new businesses (preferably online companies) in the market.
As remote connection and work from home became our new normal mode of working, regardless of business size, every company is bound to choose the path of going online and use digital platforms to sell their products and services. Without going online, amid the COVID-19 coronavirus pandemic, businesses cannot continue their business services and sustain their businesses. The state of being, now, for businesses, will be like “Do or Die.”
An Ocean of Online Selling
Indeed, the small businesses that sold their products and services offline all these years are the ones that majorly needed an immediate pivot to online advertising or digital marketing for the sake of their survival.
The small business owners and entrepreneurs are bombarded with numerous insights on digital advertising and digital internet marketing, often challenging to understand. Of course, the internet era did not leave any stone unturned. Every second, Google faces more than a million searches. The online ocean is experiencing exceptional growth.
Choosing the right online strategy plays a vital role in any business’s approach to internet marketing. Proper strategy, at the right time, to the correct online audience only leads to engagement. Without engagement, prospects or audiences will not be converted into paying customers. For the funnel to get filled, businesses have to strive hard and reach an online community at every possible space like online advertising, landing pages, e-commerce carts, blogs, web pages, community forums, social media, and many more.
Online Advertising: The Current Trends
Here are a few surprising and astonishing facts about online advertising:
- On average, a person gets to see only half of the 1,700+ banner ads that he or she witnesses in a month
- 84% of people expect brands to create content
- Worldwide digital ad spending is predicted to reach over $375 billion by 2021
With these trends in place, no business will fail to try impressing the audiences online. From small brands to giant conglomerates, every business with an online presence strives hard to entice the prospects with their impressive advertisements.
There is another side of advertising wherein people are overly educated and are aware of various products and services. In simple terms, they have become choosier, and they know what they wanted. So, day by day, it is becoming difficult to understand audiences’ behavior online and generalize the persona. Moreover, the online advertising market has become strikingly competitive due to viral content, emotionally connecting adverts, influencers, and other trendsetting marketing methodologies. In line with these, let’s see the flip side prevailing in online advertising or online marketing.
Going Online: The Flip Side
As the market is getting more complicated and crowded than anticipated, and almost all the businesses have entered the online space, spending on advertisements has become expensive. Unless your business has enough funds allocated to invest online, neither your advertisements nor your brand name is going to reach your right audiences. This dramatically affects the inflow to the sales funnel, which in turn impacts customer acquisition.
Honestly, advertising platforms give less than a second to showcase your banner ads, videos, or graphics. But, what if your business is given more time to engage with the online prospects and educate them on your products and services? Indeed, an amazing opportunity in today’s world, right?
About Bid Blab Promotion Platform
Bid Blab is one of the growing and unique gamified platforms for user-generated content. Here, the prospects (members of the Bid Blab) get to participate in the insightful question & answer arena.
This game-like promotion on the Bid Blab platform allows businesses to engage with the consumers who participate in the Q/A forum and native online advertising. Unlike other advertising platforms, Bid Blab offers promotions that last for days of customer engagement. The platform allows the integration of not just text but also images, videos, and web links.
The platform follows a native advertising strategy wherein customers earn credits for entry into promotional offerings and use them to participate in native promotion. This enables businesses to gradually educate the audiences about their value propositions.
Need clarification on how the platform works? Contact us now!
Eye-Opening Benefits with Bid Blab
The huge benefits to small businesses working with Bid Blab include:
- Enough page space to showcase product and services
- Get as many clicks as possible to drive traffic to your site
- Continuous exposure 30-days
- Way better than banner ads or other online advertisements in terms of cost, quality prospects, and duration of engagement with the audience
- Different means to convince the prospects (Promotional space, Product awareness, Word of Mouth)
- Create a craze for the businesses’ new products and product launches
- The traffic to the businesses’ site will not get lost, even if the native promotion expires
- An added advantage of SEO and SERPs
- Both local and national coverage for a reasonable price