Since the beginning of 2020, it feels like the only thing we have been reading about online is the novel coronavirus, also known as COVID-19. Everything started with worrisome news about an unknown virus that surfaced in Wuhan and was causing pneumonia. In just a few months, COVID-19 spread through the whole world.
The digital marketing world was also quickly affected. Initially, we started getting emails from airlines, hotels, tour operators. But with time, emails and notifications started coming from every industry. Things started to get weird.
Long-term economic effects of the COVID-19 outbreak are still murky. When it comes to affiliate marketing, the industry covers such a wide range of niches it’s certain that every affiliate marketer will find themselves in a different boat.
How will the affiliate marketing world be affected?
At this stage, lead generation has not seemed to be drastically affected. Most companies have moved their staff to remote working which has kept the flow going. However, these leads are not easily converted into customers. As people are losing their jobs, they feel less inclined to spend money, especially on something new.
However, just as in every business, there are a few exceptions to the rule. Food, media, pharmaceutical, and healthcare industries have all experienced plenty of revenue growth. Panic buying has led to Clorox, Kleenex, and Dettol to experience unprecedented profits during a time where most other industries are barely making ends meet.
Marketers are starting to rethink how they should be targeting their customers in this pandemic. Campaigns need to be rethought and adjusted accordingly. Affiliates that are SEO and content-focused are working to improve their website and produce more engaging content to enhance organic visibility. They are focusing on producing better quality content, but also on incorporating trending topics to their blogs, vlogs, articles, etc. Businesses from all spheres are trying to find how their product or service fits into the horrors of the pandemic: Alcohol companies are producing hand sanitizers, car manufacturers are making medical equipment like ventilators to help hospitals cope, restaurants have completely transformed to delivery service.
Is it time for forex affiliates to change their marketing strategies?
Extraordinary times call for extraordinary measures. Marketers around the world started brainstorming whether it would be incorporating the novel coronavirus into their marketing strategies.
The truth is: it depends.
For the forex industry, 2019 was a quiet year with little market volatility. But the 2020 game with a bang as the pandemic caused markets to decline lower than they have been in a decade. Volatility is not necessarily troubling from FX brokers. Unstable markets can ben quite lucrative for some traders, and according to data compiled by Finance Magnates,” first quarter of 2020 is set to deliver a sizeable boost for FX and CFD trading volumes.”
FX marketing departments around the world have been asking themselves the following questions:
- What are the effects of COVID-19 on our traders?
- What can they do to benefit from the situation amidst the crisis?
- How do we reach out to traders without sounding insensitive?
No business wants to sound insensitive to the situation that happening worldwide, but brokers know that their customers could benefit from the markets’ reaction to the pandemic. Brokers are encouraging traders to pay closer attention to the markets. There is a lot of intraday trading as clients try to bottom from volatility.
People have turned to financial markets to help them survive the pandemic. With many people being left without a stable income, trading seems to be like an opportunity market.
So what can forex affiliates do?
The current global situation is not a place to be humorous and insensitive. With the tragic loss of life followed by the gloomy forecast of the upcoming recession, this is not a time to be funny.
But for forex affiliates, this is a time to educate traders on the effects of COVID-19. As people are turning to trading it is a great time to teach them more about forex, crypto, strategies, etc. Guides, webinars, well-informed articles, and even just motivational posts can help people reform their trading strategies and increase their returns.