The effect of COVID-19 on Marketing

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A review of Influencer Marketing Hub’s statistics in the face of the Covid-19 global pandemic.

The events of 2020 so far have played out like a B-rated Sci-fi movie or better yet, the stuff doomsday prepper dreams are made of.  Whether or not the mentioned suffices as description, the crux of the matter is most plans for business have gone topsy-turvy because of the coronavirus and life as we know it may return limping.

While we have been mostly confronted by doom, here are some positives to take away from this period:

 

1 in 4 companies have retained or increased their marketing activities:

 

 KLAVIYO (a marketing platform) has been surveying its network of 30,000 businesses throughout the coronavirus crisis and surprisingly a number of businesses still had optimistic sales forecasts with more than 28% of respondents saying sales were going up.

 

Brands have increased their spend on online advertising.

With the move from sales at bricks and mortar stores to online shopping, brands have increased spend on online advertising as the world’s population stays indoors, this has also applied to B2B companies.

 

Influencer posts have accounted for over 2.9 Billion engagements on Covid-19!

 CreatorIQ analyzed over 1.4 million Instagram influencers’ posts. They looked at posts that had the hashtags #coronavirus, #covid19, #covid, #pandemic, and #coronavirusoutbreak. The most popular of these tags was #coronavirus, which was used in 466,175 posts and 1,882,051,405 engagements. There were more than 800,000 influencer posts resulting in 2.9 million engagements.

 

Engagement on posts is up!

 

With most of the world’s population of internet users at home, engagement on social media posts seems to be up.  CreatorIQ analyzed posts made by influencers with regards to social good campaigns. Overall engagements on PSA/ information-sharing posts by content creators have passed 1.5 billion, on 480,000 posts.

The most popular hashtag was #stayhome, featuring in 173,005 posts, and 512,286,746 engagements.

 

A 60% increase in conversion to online food stores.

While it’s very exciting to have a lot of traffic coming to your website, the conversion of those visitors into actual customers or clientele is much more important.  Areas, such as the Finance Sector, have seen noticeable increases in traffic, but sizeable drops in conversions. The food sector stands out in terms of conversions, with a nearly 60% increase in conversions. This is as a result of people practising social distancing and moving their shopping online.

Categories- Influencer

Source: Coronavirus (COVID-19) Marketing & Ad Spend Impact: Report + Stats (Updated April) 2020, accessed 6 June 2020, <https://influencermarketinghub.com/coronavirus-marketing-ad-spend-report/>.