The immense options available on the internet at low prices has intensified how difficult it is to get brand loyalty. But, with COVID – 19 and the lockdown in place, it has become even more difficult for brands to maintain the brand loyalty they built, especially those brands which were highly dependent on offline stores.
With these unprecedented times, many companies are facing a drop in revenue. Keeping this in mind, companies are pulling back their brand’s marketing dollars, if not getting rid of them completely. Here are a few reasons why this can actually harm your business in the long term.
People Still Need Products and Services
Despite being in lockdown and working from home, people still need products and services. Stay in front of your target audience with the help of your brand’s marketing strategy. Your target audience may not convert immediately, but at least they won’t forget about your brand.
Your Competitors are Still Out There
If your brand is planning to stop online marketing altogether, remember that your competitors are still out there. With lesser competition, their brand gets more impressions and visibility. This could lead to them capturing some of your market share.
Maintain Brand Presence in the Market
Remember, we’re not going to be in lockdown forever, and the market will open up sooner or later. By stoping your brand’s online marketing, your brand is losing out on market share and existing brand loyalty. This is will be harder to recover once the market opens up again.
Capture Your Competitors’ Impression Share
Just like your company, your competitors may also be considering reducing their brand’s marketing budgets. This means that there may be a drop in impression share for their business. That’s where you jump in. Capture the impressions your competitors are losing out on due to a decrease in investments. Learn about PPC campaign management online with ShiruDigi.
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