We all are happy to learn about the news of the Covid vaccine. India has almost vaccinated more than 6 lac, health workers, already and the no of cases coming daily are also low. The recovery rate in India is also quite high and touching almost 97 percent. So how these things are going to affect the businesses and what can we expect?
Look, we all understand the basics of the economy. And largely, you see, the economy works and grows; when people invest. People invest when they have faith in the market. Pandemic has created a big faith deficit in the market. It has slowed down the investment drastically. But now, with all this news about Vaccines and recovery rate the same faith is coming back in the investment segment.
If we want to evaluate the Post Covid era, we should focus on the pre-Covid era. For example; let’s talk about media. When Covid-19 hit us, many publications choose to fire their employees and work with limited resources, considering the market position. Especially the print publication. People had stopped buying Newspapers and magazines due to the virus. Hence, they had to shut down the operations for people.
Many companies also went lean, and they are still operating in the same way. Without guess, the first thing they reduced was; the cost of promotional activity.
The entire marketing industry also felt the financial jolt. Many marketing companies shut themselves down due to the low cash inflow.
So, what is in there for all of us marketers? We all are hopeful for the market. I feel that from June this year itself the entire industry is doing revive. We should be ready to cope up with the newly developed consumer behaviour. I suggest that we should keep eye on the latest trend and look for the opportunity present in the market.
Focusing on key trends is going to be the most important thing. In PR as well, we should keep looking for innovative campaign ideas to propagate good campaign.
Last but not the least, we should be hopeful and feel blessed at this point that we survived.