COVID-19 - What It Means For Nigeria's Marketers

By now you would have heard about the spreading virus(coronavirus).

The bitter truth is that the spreading cases are growing much faster than ever and will continue to spread for a while until the proper medication is ready for use.

Just in: Nigeria recorded 5 additional coronavirus cases to the ones that have ever been said.

The sad news is that it is spreading quickly and sure, that would affect how businesses market out there.

Did you know by now health firms are getting roughly around 7,000 new cases a day?

So sad that no one knows the number of people that will be infected or will pass bitterly away during this course(coronavirus)

And sadly, it has caused the global stock exchange market to a severe loss in profit.

Poignonnec also acknowledged that the company 2020 revenue could be negatively impacted by the coronavirus.

And that would surely poise a big treat to brands doing business in Nigeria.

Many haven't affected just yet, I mean, in Nigeria but the coronavirus cases are spreading much faster than you ever think.

Knowing fully well that China is one of major Nigeria's biggest trading partners and with the coronavirus, outbreak emanated from there.

Absolutely, you know what that means.

Nigeria's stock market could suffer some setbacks in profit.

If so, what does that mean to you?

Sure, I would be so clear about everything and how the coronavirus outbreak could be an advantage for some and why it might not do much for others.

So, maybe now we should get into it.

1. Purchase decision will reduce for a while

This so-called coronavirus even hasn't taken much spreading infect yet in Nigeria.

Although they're several confirmed cases surfacing around just yet that really isn't the case for now.

Let's think about it this way, even if the virus didn't surface anymore, businesses are still going to struggle to make up for their sales loss.

And well, that might take some years to recover.

Take, for instance, according to what Neil Patel completely said, in China this so-called coronavirus caused retail sales to drop by 20.5% and the unemployment rate jumped to 6.2 in February.

If companies like Apple and Away shut down their store to help reduce the spread in order to keep their customers, employees, and the local community safe.

It means low purchase decisions and less profit.

Sure, if you're working for the likes of Apple and American eagle during this time period means, all store workers will be compensated.

This means they're going to pay their employees during their temporary shutdown.

But tell me, you might not be so lucky like them because not all companies may be in Nigeria can boast of their financial bank account.

And not just only a few are going to suffer but many would in Nigeria if the coronavirus is spreading much faster.

Just look at Apple, due to the coronavirus outbreak, there was a shortage of its iPhone supply as a result of the company's primary manufacturer.

It's estimated that the cancellation of a major tech event has inclined over $1 billion in direct economic loss.

Just in: Nigeria's central bank announced a credit released of $136.6m to businesses that experience setbacks during the coronavirus outbreak.

And not only that marketers or businesses are losing money spend but they're losing their ROI, traffic, and conversion intent.

2. The consumer search rate is down in the most niche

As per the analysis of Neil Patel, from an SEO checkpoint, they saw a huge drop in organic traffic for most industries(Just a week tracking).

And well, if you stick to the digital media hook they're chances you would have experienced a huge boost in traffic consumption and conversion.

If you're in the travel industry hook-like travel start, maybe they're chances you would experience a huge drop in traffic.

So they're fewer chances people would convert to your offers this period.

As many wouldn't think of traveling abroad just yet until everything concerning coronavirus is finally resolved.

3. Leverage the opportunity

Just take a breath: if the stock market keeps going down many out of these big companies will struggle to pay off their debt.

This shows some companies will go bankrupt, get paid off by the government.

As some can still boost of paying them off, but not for many.

This means it might be too late for most companies.

Do you remember the merging of diamond and access bank?

If it happens your business isn't feeling much impact of the recession.

I felt this is the right time to buy other companies.

As per Neil Patel, The more eyeballs you control, the more power you will hold in the future. 

If you don't know this is the best time to gain market share.

And see improve in your company's revenue.

It might take time but well it worth it.

Conclusion

It's matters that we know health comes first and others follow.

When there's life, there's always hope. Here's the time you show value to your audience and care even more for them

Because they would also give you back what you did when they need it the most.

We know most niches will experience severe loss but people's lives matter.

Let's try as much to stop the spreading of coronavirus and that matters for now.

So, what does coronavirus impact means to your business?

Read here: How To Grow Your Business - The Fast Way Of Driving Online sales

Just in: Inbound Marketing In 2020 – The Definitive Guide

Read also: What’s Sales Enablement? – The Strategy, Benefits, And Why It’s Important

I'm Destined boy, a certified digital and inbound marketer.



Follow @Blogdestined