Digital Marketing as an effective tool in achieving Business Expansion in Covid-19 era
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Digital Marketing as an effective tool in achieving Business Expansion in Covid-19 era
Abstract
This study focused on digital marketing as a viable technique for attaining business expansion in the Covid-19 era (case study: Scib Insurance Brokers). The study’s entire population consists of 200 Scib Insurance Brokers, Lagos workforce.
The researcher employed questionnaires to collect data. The descriptive survey research design was used for this investigation. The study used 133 respondents, including managers, marketers, senior and junior personnel. The acquired data were displayed in tables and analysed with simple percentages and frequencies.
Chapter one
Introduction
1.1 Background of the Study
Digital marketing has helped businesses across industries to gain real-time customer information while also creating and communicating value to customers more efficiently. This has resulted in a large expansion in client base and corresponding revenue growth.
Digital marketing research defines the many types of media channels and underlines the objectives of digital marketing, which involves leveraging online media to impact audiences and customer segments.
Khin et al investigated the stakeholders involved in digital marketing, including the merchant, network, publisher, and customer. Digital marketing emphasises the client across several media platforms.
However, it lacks an integrated structure and a strategic direction for various stakeholders to collaborate and progress towards smarter and more sustainable digital marketing.
The practice of digitisation is consistent with the smart city concept, which is promoted by scholars and governments to address the community’s current needs by utilising a broader range of digital technologies, including the internet, digital twins, and three-dimensional (3D) city modelling in geographic information systems.
Companies thus demand smart and sustainable digital marketing strategies and models to aid them in ensuring proper implementation of such creative and sustainable digital marketing tactics.
Coronavirus is a new disease produced by Covid-19 that is currently infecting people’s joints all over the world. The Covid-19 pandemic is one of the world’s most serious health catastrophes, and it was unexpected. According to the Centres for Disease Control and Prevention, covid-19 is a highly infectious and lethal virus.
The Covid 19 epidemic has impacted the joints of life. In the business world, a novel coronavirus in terms of social distance circumstances drives enterprises worldwide to require millions of employees to work from home (Choudhury et al., 2020). At least 316 million people in 42 US states have been requested to stay at home, leaving firms exposed to the shift to virtual workplaces or layoffs (Kim, 2020).
Many employees are quickly adapting to digital transformation; Zoom’s online video conferencing software reports a 78% profit increase, and a Google Meet report reports a 60% increase in user traffic, with people meeting online for 2 billion minutes per day (Kim, 2020).
Employees may not want to return to the actual office once the pandemic has passed. The management believes that some of the consequences of covid 19 on the workplace will be long-lasting, with flexible working hours and digital meetings projected to increasingly replace traditional corporate culture.
The organisation is experimenting with decentralised decision making and new software to ensure that the new digital work culture is as successful and productive as working in a traditional office.
Although firms must execute this transition as efficiently and promptly as feasible, several other repercussions that are critical to business continuity are sometimes underestimated, including the influence of covid 19 on consumer and market behaviour.
Recently, management practitioners and academics conducted research in response to Covid 19, with an emphasis on the digital transformation of the workplace (Kim 2020). The “Mere Urgency Effect” states that people devote the majority of their resources and time to problems (Zhu et al., 2018).
Statement of the Problem
According to a recent poll of 304 organisations, 42% are concerned about income; nevertheless, most managers prefer to wait and see rather than take action to address the situation (Kim 2020). Managers may expect sales to revive only as consumption grows after the pandemic has passed.
However, this pandemic has had an impact on the culture of the location, the culture of customers, and may have changed the structure of the market.
Pandemics also have an impact on digital transformation, including consumer behaviour and how organisations may respond to digital marketing. As a result, the goal of this study is to determine how the business opportunity with digital marketing is affected by the pandemic, as well as the marketing perspective.
Consumer insight during the epidemic demonstrates that the industry is shifting towards digital marketing. The development of online transactions opens up new avenues for marketing success following Covid-19.
The objectives of the study
The study’s aims are:
To investigate the effectiveness of digital marketing during the Covid19 pandemic at Scib Insurance Brokers.
To determine the relationship between digital marketing and business expansion during the Covid19 era at Scib Insurance Brokers
To research whether digital marketing is a useful technique in attaining business expansion during the COVID-19 period in Scib
Insurance Brokers.
Research Hypotheses
To ensure the study’s success, the researcher developed the following research hypotheses:
H0: there is no association between digital marketing and business expansion during the Covid19 era. Scib Insurance Brokers
H1: There is a relationship between digital marketing and business expansion during the Covid-19 era at Scib Insurance Brokers.
H02: Digital marketing is not an effective instrument in attaining business expansion during the COVID-19 era in Scib Insurance Brokers.
H2: Digital marketing is an important technique in accomplishing business expansion during the COVID-19 age in Scib Insurance Brokers.
Significance of the Study
The study will be extremely beneficial to students and any organisation. The study will provide a good understanding of Digital Marketing as a viable instrument for business expansion in the Covid-19 era (Case Study: Scib Insurance Brokers).
The study will provide insight into the role of digital marketing before and after COVID-19. The study will also act as a reference for other researchers who would engage on the similar issue.
Scope and limitations of the study
The study’s scope includes digital marketing as an effective strategy for business expansion during the Covid-19 era (Case Study: Scib Insurance Brokers). The researcher faces various constraints that limit the scope of the investigation;
a) AVAILABILITY OF RESEARCH MATERIAL: The researcher has insufficient research material, which limits the investigation.
b) TIME: The time period allotted to the investigation does not increase broader coverage because the researcher must mix other academic activities and examinations with the study.
Definition of the Terms
Digital marketing is a marketing component that uses internet-based digital technology including desktop computers, mobile phones, and other digital media and platforms to promote products and services.
Business growth: Business expansion is a stage in a company’s life that presents both opportunities and risks. On the one hand, business growth frequently results in a rise in financial fortunes for both owners and employees.
COVID-19 is an infectious disease caused by a recently identified coronavirus.
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