Taking your business to the next level is not going to just happen. You need a strategy -- and you need a team of experts. With both of these things behind you, you can successfully build your brand and reach your local audience.
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Why should businesses invest in strengthening their online presence during the pandemic?
During the pandemic, businesses that strengthen their online presence can capitalize on the shifting consumer behavior towards online shopping. With restrictive measures like lockdowns in place, people are spending more time at home, leading to increased engagement with brands through online channels. One key advantage of prioritizing online presence is the potential for significant growth in digital sales. For instance, even though Nike initially projected a $3.5 billion drop in revenue in the fourth quarter of fiscal 2020, the company reported a remarkable 36% increase in digital sales. As a result, Nike's shares rose by as much as 11%, demonstrating the positive impact of e-commerce.
Moreover, the United Nations Conference on Trade and Development (UNCTAD) highlights that the pandemic has accelerated the transition towards a more digitized world, reshaping online shopping behaviors in ways that are likely to have lasting effects. Therefore, businesses that invest in strengthening their online presence not only adapt to the current situation but also position themselves for long-term success in an increasingly digital landscape.
By collaborating with an online marketing consultant, businesses gain access to expertise in effectively reaching their target audiences through the right digital channels. These professionals can provide valuable insights into emerging consumer trends, allowing companies to uncover new revenue streams and drive repeat sales. Ultimately, investing in online presence enables businesses to unlock the immense potential offered by digital platforms and maintain a competitive edge during these challenging times.
How has the COVID-19 crisis impacted online shopping behavior?
The COVID-19 crisis has significantly impacted online shopping behavior, leading to a surge in digital sales and a shift towards a more digital world. With the implementation of restrictive measures like lockdowns, people have been forced to stay at home and rely heavily on online shopping to meet their needs.
One of the notable effects of the pandemic on online shopping is the increase in digital sales for businesses. Despite projected revenue drops for companies like Nike, there has been a substantial rise in digital sales. For instance, Nike reported a 36% increase in digital sales during the fourth quarter of fiscal 2020, which had a positive impact on their shares, resulting in an 11% rise.
The United Nations Conference on Trade and Development (UNCTAD) confirms that COVID-19 has accelerated the shift towards a more digital world, prompting significant changes in online shopping behaviors. Their survey indicates that across various product categories, online purchases have seen an increase ranging from six to ten percentage points. This emphasizes the growing reliance on e-commerce platforms.
Interestingly, while online purchases have risen, the average online monthly spending per shopper has seen a significant drop. This can be attributed to the economic uncertainty and financial challenges faced by individuals during the pandemic. However, it is predicted that many consumers will continue to embrace the digital habits they adopted during the crisis. UNCTAD suggests that 36% of shoppers are likely to continue shopping online more frequently even after the pandemic subsides.
Overall, the COVID-19 crisis has pushed people to engage with brands and make their purchases online due to restrictive measures such as lockdowns. This has resulted in a notable increase in digital sales, alongside a shift towards a more digital world. The lasting impact of these changes suggests that online shopping behavior is likely to continue evolving beyond the pandemic.
How much does a digital marketing consultant typically cost?
The cost of hiring a digital marketing consultant typically ranges from $100 to $175 per hour. These professionals are experts in their field and can effectively enhance your marketing strategies while delivering measurable outcomes. The precise cost may vary depending on factors such as the consultant's experience, expertise, and the scope of your project. Investing in a digital marketing consultant can be a valuable expenditure, as their guidance can help you optimize your marketing efforts and achieve tangible results.