By the time this article is written, we are far from knowing what this new COVID-19 will cause to the world population in terms of health. We can just hope that the casualties will be kept at a low figure across the globe.
People are looking at the scientific community with hope; it’s the time to show some results apart from continuous panic on climate change and ecological topics. And we hope that the scientists will find the cure in short time. This is the best we can expect. We cannot reverse the damage which has been done already to most of the businesses in the world. The economic impact is huge already, with trillions of dollars in losses today. If the vaccine will appear overnight, there is a fair chance to stop the global economical crisis which have just started.
Yes, as written above, the crisis is here already! The stock markets are down. The travelling and hospitality businesses are dying or in deep pain. If the situation continues without a clear perspective for healing this new virus’ victims, the situation will get uglier each day. The domino effect is going to put most of the businesses down.
So, the light is expected to come soon from the scientists. Otherwise, the spreading of the virus will slow down (thanks to quarantine and other state level measures) and it will eventually disappear, but in time. And we all know it already : “time is money”. The time is now essential not only to save the casualties of COVID-19, but to diminish the “collateral damage” which can be even worst.
Dear scientists – now, more than anytime in the last decades, you are expected to be our heroes. Keep calm and help the humanity! 🙂
I am afraid to think at the worst scenario: all businesses. All of them could be impacted directly or indirectly. The flight companies are already reporting huge losses. What does it mean? Probably they will cut the budgets for marketing and advertising, they will postpone their investments in new airplanes (the Aero industry will suffer). In general, most of the companies act like this during the economic / financial crisis. The first money they use to diminish the yearly losses are coming from marketing and advertising budgets.
However, if all the economy will suffer, it means some (small to big) companies will close the doors, which means unemployment. Unemployment leads to low buying potential, which means low sales volumes on most of non-essential products. This is a vicious circle which attracts everybody in this amazing fall.
This topic is very delicate, as I don’t have all the data yet. Things can change at anytime for better or worse. But I am going to share my vision for mid term.
Some of the fellow Internet Marketing specialists will be fired (either the employer closes the doors for good or they decide to cut the budgets). So there will be even a bigger competition on our niche. But, in the meantime, thinking on mid term – there could be an opportunity to catch big clients for freelancing punctual projects. The budgets might not be so big as they are now, but for a freelancer it could be huge.
You will laugh when I say not to fear if you are a freelancer on SEO or SEM. But keep in mind one thing: you are already familiar with this status. You already work for your own since a while, you don’t need time to accommodate. Your attitude is different than the attitude of newly unemployed people. You fear less. You are trained.
I am not saying we are going to be ok. It’s impossible. We will be affected too for the short and mid term. Our incomes will slightly decrease. We will work more for the same revenues.
It is out of question that our Internet Marketing industry will die. You already know how important is our work. There are just a few businesses which are not interested to be present on the Internet. As long as they wish to be there, they need us! So – nothing to be afraid of.
Keep your eyes open for new opportunities. When a business is in recession, others are prospering. The world will not end, neither our industry.
During hard times, there are “wolves” anywhere hunting for weak negotiators. Do not show fear, they know how to speculate it. Don’t forget what you sell. How many years of learning and experimenting you have in your background. Your previous results. You are the specialist and you know it. They know it too.
You will probably need to be more flexible when negotiating your prices. It’s a normal thing under these circumstances. Show your client (or the future client) that you understand the situation. Be ready to offer discounts, they are ok. Determine a reasonable period of time (if there is an ongoing project) for discounted offer. Let’s say – 3-6 months. Then, you should have the right to re-negotiate according to the new situation. You should help your client and not forget about you! Don’t sell your services (time, knowledge) for a few bucks. The crisis will come to an end.
You know what I am going to do if the Coronavirus will infect all our Internet Marketing industry? I will take advantage of zero pressure from my clients’ projects and will focus on some personal projects. I will have time for my own sites and accounts: to update everything, to check again various technical details.
I am thinking also to build some new websites for my own. I don’t know yet the niches I will approach, but if I am doing my job properly, I might have a big profit by selling the projects when the market recovers.
My fellow SEO specialists, these are hard times but they can be overcome. You are clever people which understand better some aspects and you have the ability to adapt. Let’s stay calm and use our mind to further build new projects and help our clients grow their businesses. And, under no circumstance, do not spray alcohol or chlorine over your body! 🙂