COVID-19 has been the spark to ignite a truly digital economy and as SMBs we should embrace the change and keep our dreams alive. The statistics may be disheartening but the trends are promising.
How will the next chapter of your story be written?
- 3 key predictions on how Australia and the world is transforming
- Digital is key when it comes to running your business
- Ideas and steps on how to get your business seen and chosen in an increasingly digital world
- We’re here to help! If you have any questions, contact us today on 1800 876 673
Two-thirds of small businesses in Australia have experienced the impact of the COVID-19 pandemic (Source: Coronavirus: SME Policy Responses, May 2020). With 41% experiencing a drop in income of 50% or more in the last two months.
Our clients are turning to us and asking the hard questions. How can we survive? What do the next three months look like? Will this downturn ever reverse? What is normal?
The world is changing. Embrace the digital transformation that is taking place to become more resilient, thrive, and grow.
Our Top 3 Predictions: What’s Going To Happen Next & What Should You Now Consider?
Time to ride the second wave of e-Commerce growth as consumer confidence recovers
Australians are shopping online more than ever before. Australia Post has reported a significant growth in e-Commerce, up by 80% in the 8 weeks following the WHO’s announcement with 200,000+ new households shopping online in April 2020.
Let’s target our customers online with eye-catching media and creative wizardry – KPMG, based on the Global Financial Crisis (GFC) aftermath, believe consumers will stay online with their purchasing behaviour as they have grown accustomed to this during the lockdown. Activity will return to shopping malls but digital will likely play a much larger role.
“We saw this enduring shift in consumer shopping behaviours as the economy recovered from the GFC. During the crisis period, many Australians experimented with online shopping for the first time as they looked for new ways to save money. As the purse strings eased, it became clear that everyday Australians had embraced eCommerce – and growth almost doubled over the next four years.”
Digital advertising to bounce back in 2021
Advertising spend has dropped a record 40.4% in May however “digital is forecast to rebound by 11% to surpass two-thirds of total advertiser budgets” (source: AdNews, June 2020). Instead of thinking it’s the end it’s time to think about starting a new chapter, ready to continue telling your story and its success ahead.
Have you thought about how you’re using social media adverts to reach new customers? Reports indicate an 8.8% increase in time spent on social media with the daily average now 82 minutes (source: eMarketer, April 2020). The digital opportunity here is enormous and with platforms like TikTok and Instagram continuing to add business features there are now more avenues than ever to reach your target audience.
Increased consumer expectations as people rely on digital means to get what they want
With increased spend and drive online comes higher expectations for smoother processes and quick response times. For example, maximise your active social media following by engaging with them using community management and creating exciting content. Reply to comments and messages as people may expect quicker response times – this will also increase brand loyalty and form a deepened connection with your followers.
It may be time to do an audit on your digital footprint to see what is working for you and change what isn’t. Revisit your website and step into your customer’s shoes. A slow website could be the difference between reaching your monthly sales target or not, as it is proven that page speed has a direct impact on conversion rates.
Digital Is Key When It Comes To Running Your Business
The magic of digital can keep the conversation going and put your brand in front of more prospects and customers. Facebook’s SMB Report (May 2020) has found 51% of businesses report increasing online interactions with their clients. 36% of personal businesses that use online tools report that they are conducting all sales online. 35% of businesses that have changed operations have expanded the use of digital payments.
But what does this all mean for you and how your business operates?
Keep your business in the spotlight with a great digital strategy that:
- Maximises online sales
- Connects with consumers
- Keep your brand story at the heart
The Makings Of A Great Digital Strategy
In an increasingly digitised world, do you feel confident that you can transform your business to succeed in the future?
- What channels are you currently using? Such as your website, email, social media, print and distribution
- Are you being seen and chosen? Look at the channels you are using and track its reach and impressions compared with the conversions being made with leads and sales.
- What are the online habits of your customers? Where are they shopping? (1 in every 3 minutes spent online is on social media)
- How easy is the customer journey or user experience on your website to contact you or buy your product?
- Are you contacting your customers directly? Don’t forget to think about letterbox distribution. (80% of mail is opened vs. 25% of emails)
If you still feel uncertain about how to begin your business’s digital transformation then reach out to GDR Group because we are ready to write your next chapter with you.
Your Next Chapter
GDR Group is 40 years strong, boasting unrivalled in-house media expertise, an award-winning CEO at its helm, and a Managing Director fresh from Newscorp. We have navigated through many a crisis including the GFC and now a global pandemic. We can help guide your next chapter to achieve your business goals:
- Call us today to claim a FREE media consultation session with the team at GDR Group including Michael Wilbow (Managing Director). Mr Wilbow, the former News Corp Australia, GM Sales SMB & Real Estate, Head of Sales at Australian Associated Press and Client Services ANZ and the Australian Radio Network as General Sales Manager, will take charge of your advertising & media with the mandate of making you more commercially successful.
- Trust GDR Group to delve into your digital footprint and understand your brand. Let’s ensure your story is being communicated effectively to your (new) customers online.
- See results with GDR Group that not only connects your business with your customers but also demonstrates a return on investment so that together we continue to tell your story.