CoVID-19: Industry Impacts

The last month has been a whirlwind to say the least, in the world of Event Marketing. In an unprecedented turn of events, large conferences such as SXSW, B2B Marketing Expo and many others have been cancelled or postponed due to CoVID-19, leaving event marketers at a loss for how to promote their brands and generate business. Sports arenas and music festivals have taken a similar blow – as has the travel sector. Though, what about other industries? With this in mind, we thought it would be interesting to take a look at macro shifts to see which industries might be UP and which might be DOWN following the spread of CoVID-19.

Understanding the shifts may help you prepare for what is to come for your business, (or your clients’), and could help shed some light on where you could be channeling marketing efforts and ad spend to help limit the impact of CoVID-19. With that said, let’s dive into some metrics! Neil Patel shared some excellent infographics on this, which will be the basis for this post.

As you can see from this graph, the largest growth in conversion has been in the Food industry - followed by Healthcare, Media and Pharma respectively. Current economic uncertainty, coupled with a global health crisis, means that individuals look more to what they “need” than what they “want” – so it is no surprise at all that we see greater conversions in these categories. Of the sectors hit the hardest, conversions have suffered the most in Travel, Construction, Real Estate, and Advertising. Based on this, it would likely make sense to channel advertising dollars into industries with higher conversions – so certainly take some time to examine any brands that you may manage in these growing sectors.

Regarding traffic, the growth and decline trends have been slightly different. Industries with the highest traffic growth since the CoVID-19 outbreak include: Media, Finance, Food and Healthcare, respectively. With an increase in “Netflix ‘n’ Chill” due to shelter-in-place regulations, as well as a greater need to manage and protect personal finances due to economic turmoil – these trends are no surprise either. On the flipside, industries that have suffered the greatest decline in traffic include: Travel (with the most significant drop), followed by smaller decreases in industries such as Construction, Advertising, Manufacturing and Transportation.  

Neil Patel’s article does a fantastic job of outlining the pitfalls of using this data to make a “quick buck” from the CoVID-19 outbreak. While this data should in no way be used to do this, it can be very helpful to understand the greater trends that may be impacting your business and your clients’ businesses.

Over here at Cloud Campaign, we’d love to hear how you are doing and how we may be able to support you. We are all in this together – so reach out to us any time on  Facebook, Instagram, Twitter or LinkedIn and let us know what we can do!

Stay safe, stay healthy and we will be back with more soon!