Social Media Marketing and the Economic Recession

Decided to dive deep into the economic and social climate tonight. With everyone stuck in their homes, social media usage has understandably gone up. However, companies are bracing themselves for a longer recession and have cut spending on all types of marketing. So, the questions I have are:

  1. Is this pause in regularly scheduled content going to give an opportunity for other companies to grab the spotlight?
  2. Will companies double down on social media marketing since it is the cheapest form of marketing?
  3. Is it ethical to promote products/services at all rather than raising awareness, hope, and support for the COVID-19 pandemic?

Here are my answers:

  1. I think the marketing campaigns that will grab the most attention over this period are the ones who show the most compassion for essential workers and those affected by the Coronavirus. This is absolutely an opportunity for companies to show their true colors and gain well-deserved praise for their efforts to help the community.
  2. Even though overall output of content will go down, I think marketing managers will direct more attention to social media since it reaches the biggest audience for the least amount of money.
  3. In my opinion, it is not ethical to continue to push merchandise/services without also contributing to awareness/support efforts for the pandemic. Ignoring the issue would be synonymous to the company stating that there is no problem.

However, those are just my personal opinions! Tell me what you all think!

3 thoughts on “Social Media Marketing and the Economic Recession

  1. These are all really great points! I agree with you that it is better for companies to direct their marketing efforts towards showing compassion and using emotion during the pandemic which so many people have been impacted by in one way or another. However, I’m curious to know if it’s been difficult for businesses to stand out in their marketing during COVID-19 and to prevent their efforts from being immersed in “clutter” of compassionate marketing. Really great post!!

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  2. For question 1, I totally agree with your answer. For question 2, I also agree with your answer. In addition to what you said, I think marketers will go heavy on social media marketing because so many people are using social media more at this time. For question 3, I think it is necessary for companies to promote products and services while raising awareness, hope, and support for the COVID-19 pandemic. I think this is the case since it wouldn’t be in good taste for companies to only promote their products and services, but they still need to promote their products and services to stay in business during this pandemic. One example that comes to mind for how to do this is the Budweiser commercial that showed them turning beer production into water production to send for hurricane disaster relief. I think brands that are helping during the COVID-19 pandemic can show what they are helping since this promotes their brand while showing they are doing something to help.

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  3. Very smart observations! I think they are well thought and I do fell the same as the other comments regarding #3. Hard to make an impact if everyone is talking about the same thing…but it’s also highly necessary.

    Like

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