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 research looked at digital marketing as a viable instrument for business expansion in the Covid-19 era (Case Study: Scib Insurance Brokers).
The study’s overall population is 200 Scib Insurance Brokers, Lagos employees. The researcher collected data using questionnaires as the instrument. This study used a descriptive survey research approach.
The survey included 133 respondents, including managers, marketers, senior workers, and junior personnel. The acquired data was organised into tables and analysed using simple percentages and frequencies.
Chapter One
Introduction
1.1 Background Of The Study
Digital marketing has helped businesses in a variety of industries to gain real-time customer information and more efficiently generate and deliver value to customers. This has resulted in a huge rise in client base and top-line growth.
Digital marketing research identifies media channels and illustrates the goals of digital marketing by influencing audiences and customer segments through online media. Khin et al investigated the digital marketing stakeholders, comprising the four essential stakeholders of the merchant, the network, the publisher, and the client.
Through various media platforms, digital marketing emphasises the customer. It does, however, need an integrated structure and a strategic direction for these stakeholders to work on and advance towards smarter and more sustainable digital marketing.
The practise of digitization is consistent with the smart city concept, which is promoted by academics and governments as a means of addressing the community’s current needs by utilising a broader range of digital technologies ranging from the internet to digital twin and three-dimensional (3D) city modelling in geographic information systems (GIS).
Companies, as a result, require smart and sustainable digital marketing strategies and models to help them through the implementation of such innovative 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 epidemic is a global health crisis that cannot be expected in modern times.
Covid-19, according to the Centres for Disease Control and Prevention, anoints pathogenic and lethal viruses. The Covid 19 epidemic has impacted life’s joints. A novel coronavirus in terms of social distance conditions compels enterprises all over the world to ask millions of workers to work from home (Choudhury et al., 2020).
At least 316 million people in 42 US states were urged to stay at home, and firms were later vulnerable to the move 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 every day (Kim, 2020).
Employees may even refuse to return to the real office once the pandemic has passed. The manager believes that some of the consequences of covid 19 on the workplace will be long-lasting, as flexible working hours and digital meetings are projected to increasingly supplant traditional corporate culture.
To make the new digital work culture as effective and productive as working in a physical office, the company is exTperimenting with decentralised decision making and new tools.
Although firms must execute this transition as successfully and rapidly as feasible, numerous other crucial repercussions for business continuity are sometimes underestimated, particularly the impact of covid 19 on customer and market behaviour.
Recently, management practitioners and academics conducted research in response to Covid 19, concentrating mostly on the digital transformation of the workplace (Kim, 2020).
People tend to devote the majority of their resources and time to problems, according to the “Mere Urgency Effect” (Zhu et al., 2018).
Statement Of The Problem
According to a recent survey of 304 organisations, 42% are concerned about income; nevertheless, most managers prefer to wait and see rather than taking action to address the situation (Kim, 2020). Managers may anticipate that revenues will only begin to rebound once the pandemic has passed.
However, this epidemic has an impact on the culture of the place, the culture of customers, and may change the market structure. Pandemics also have an impact on digital transformation in terms of consumer behaviour and how firms react to digital marketing.
As a result, the goal of this study is to determine how the economic opportunity with digital marketing is during the pandemic, as well as the marketing perspective.
Consumer feedback during the pandemic indicates that the industry is shifting to digital marketing. After covid-19, the rise of online purchases opens up new avenues for marketing success.
Objectives Of The Study
The objectives of the study are as follows:
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 in Scib Insurance Brokers throughout the Covid19 era.
To determine whether digital marketing is an effective method for attaining business expansion in Scib Insurance Brokers during the Covid19 era.
Research Hypotheses
The researcher developed the following research hypotheses in order to successfully complete the study:
H0: During the Covid19 age, there is no association between digital marketing and business expansion Scib Insurance Brokers in
H1: There is a link between digital marketing and business growth during the Covid19 period i Scib Insurance Brokers n
H02: In Scib Insurance Brokers, digital marketing is not an efficient instrument for accomplishing business expansion during the Covid19 era.
H2: In Scib Insurance Brokers, digital marketing is an excellent instrument for accomplishing business expansion throughout the Covid19 age.
Significance Of The Research
The study will be extremely beneficial to both students and organisations. The study will provide a good understanding of Digital Marketing as an effective instrument for Business Expansion in the Covid-19 era (Case Study: Scib Insurance Brokers).
The study will provide insight into the function of digital marketing before to and following covid19. The study will also be used as a resource for other researchers who will be working on a similar topic.
Scope and Limitations Of The study
The study’s scope includes Digital Marketing as a viable strategy for Business Expansion in the Covid-19 age (Case Study: Scib Insurance Brokers). The researcher comes upon a constraint that limits the scope of the investigation;
a) RESEARCH MATERIAL AVAILABILITY: The researcher’s research material is insufficient, restricting the scope of the investigation.
b) TIME: The study’s time frame does not allow for broader coverage because the researcher must balance other academic activities and examinations with the study.
Definitions of terms
Digital marketing is the component of marketing that promotes products and services through the use of internet and online-based digital technology such as desktop computers, mobile phones, and other digital media and platforms.
Business growth is a period in a company’s life that is filled with both opportunities and risks. On the one hand, business expansion frequently results in an increase in financial fortunes for both owners and employees.
Coronavirus disease (COVID-19) is a viral infection caused by a newly discovered coronavirus.
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