The last few weeks the entire human activities around the world seem to converge to a point of fighting the deadly virus COVID 19. The pandemic has urged a situation of locking the human resources to the four walls of the houses. Despite the imminent risk the coronavirus could pose, we have devised many strategies to ensure the essential services by adhering to social distancing norms. Though many constructive suggestions were popping up to outlive the situation, we have already succumbed to a deadly economic crisis which is more alarming than the pandemic. IMF insight analysis on economic and finance have projected that the great lockdown has hammered the economy to its worst downturn. April world economic outlook projects global growth in 2020 fell to -3 percent.
Eventually, it is forecasted that the days ahead of this lockdown period would be the worst of its kind in terms of economic stability and financial opportunities. Recent developments form the Industrial and Business sectors seem to be much alarming. Most of the private enterprises around the world have issued directions for reducing the staff strength and cutting down the salaries or compelling the staff to avail leave without allowances for the long term. Hence lakhs of migrants and the working class are strained with uncertainty about the future. The depleting bank accounts, mounting financial liabilities on account of financial slowdown and lack of employment opportunities are viewed as the looming post-COVID impact on our society.
In the technological space, disruptive technologies have already prompted a revolutionary change in the processes and operations of the industrial systems. These disruptive technologies often disrupt the traditional industries and workforce participation by the introduction of new technologies which are cheaper, better and more convenient. These technologies emerge as a confluence of multidisciplinary technologies and new innovations. In the contemporary workspaces, there are a lot of disruptions happening with the arrival of new technologies like Artificial Intelligence, Machine Learning, IoT, Digital Marketing, Cloud computing, 3D printing, Robotics, Blockchain technologies etc.
However, after this prolonged industrial and business lockdown, the entire system will forcefully disrupt in terms of their processes and operations. Obviously the disruptive technologies will strongly endorse the current systems and break the chain of the traditional practices. As foreseen about the critical post COVID situation of the dearth in employment opportunities in the traditional platform and terrible financial crisis, to overcome it we have to familiarize with the evolving disruptive technologies. Hence it mandates us to streamline our competencies in lines of the emerging technologies and changing scenarios.
As said every crisis or disruption will open new windows of opportunities. One of the proven gateways that we have witnessed during this lockdown is over-dependent on digital platforms to exercise most of our activity in normal life and workspace. In an industrial scenario where marketing is considered as the soul of business, digitalization of marketing activities is going to rule the business space. Hence digital marketing will emerge as the most potential marketing strategy in the days ahead.
It is worthy to note that “It took 38 years for Radio to reach 50 million users, 3 years for Internet, 1 year for Facebook, 19 days for Pokeman Go. Whereas only 13 days for Arogya Setu, an Indian App”. This is the power of the digital revolution and the effectiveness of digital media in reaching millions in no time. Now the internet and social media have become a part of our social life and all human activities seem to converge to this platform. However, it is true that both the digital natives and digital migrants are addicted to social media like – WhatsApp, Facebook, Instagram, twitter etc.
Positively, digital marketing had set its foot firm in the business and marketing sectors as the most efficient and economic strategy for boosting the business. Moreover, the disruptive scenario has prompted the entire business community to opt digital marketing avenues and resources as the most productive tool to bridge industry and community. Impact of lockdown has led to the penetration of Social Medias and its possibilities to the entire community. Irrespective of whether it is social interaction, spiritual activity, recreational pastime, business deal or any e-commerce activity the first option is to depend on a digital platform. Definitely digital marketing will sustain as the cost-effective campaign irrespective of age, sex or demography.
In this context, it becomes quite evident that for any professional in business and marketing irrespective of the profile, a complete acquaintance with the digital marketing strategy will be counted as a mandatory criterion. The business world is now in the lines of smart work culture. Through Digital marketing possibilities a business enterprise could reach out to its targeted beneficiaries and clients in the most effective format and time. For instance, if the business targets middle-aged clients or the people in a specific locality we could filter the audience accordingly so as to optimise the reach with cost-effective and prospective results. Hence in a business scenario all marketing, branding, promotion and sales activities will revolve around Digital Marketing, so every student who plans to define a career in this space should have a genuine awareness of Digital Marketing.
The nature of jobs also is changing; nowadays people are not fully attached to any specific company or job position. It has become quite common that people are serving two or more companies at a time as Freelancers. Digital Marketing is a platform which nurtures the possibilities of Freelancing. A professional according to his competencies could support many enterprises through Digital Marketing avenues. Moreover, Linkedin in its top Job predictions has consecutively listed Digital Marketing as one of the top ten Jobs in the world.
In Social Media, big corporates are depending upon influencers for the promotion and branding of their products. Usually, persons with a large number of followers are paid by the companies for the advertisement of their products and services. Now they are also approaching Nano influencers, those persons having less than 3000 followers for the branding of their products. This opportunity also is evolving as a big revenue source for digital marketing professionals.
Digital Marketing is an industry that continues to grow dramatically year on year. In fact, global social media advertising spending increased by $333 billion in 2019 alone, an increase of 17.6% from 2018. (Source: Emarketer.com website Global Digital Ad Spending 2019).
The latest news of Facebook’s investment on Jio Platforms also proves the potential of Social Media in Indian Market; Rs 43,574 crore investment for a 9.99% RIL stake. “At the core of our partnership is the commitment that Mark Zuckerberg, founder of Facebook, and I share for the all-round digital transformation of India and for serving all Indians…In the post-Corona era, I am confident of India’s economic recovery and resurgence in the shortest period of time. The partnership will surely make an important contribution to this transformation,” said Mukesh Ambani, chairman and MD of RIL in the statement.
Facebook said the deal underscores its commitment to India. India is the biggest market for Facebook with 328 million monthly users and the company’s WhatsApp messaging app has 400 million users in the country, also the most in the world.
“This is especially important right now because small businesses are the core of every economy and they need our support. India has more than 60 million small businesses and millions of people rely on them for jobs,” Facebook post by Mark Zuckerberg.
Digital Marketing has already gone much ahead with job opportunities and career possibilities for every category of people. Now Post COVID impacts have doubled its strength in fetching better opportunities in business and marketing platforms.