The coronavirus pandemic has transformed brick-and-mortar business, possibly forever. Peter Paine, former eBay and Walmart executive and now head of retail partnerships in the Americas for Cover Genius, checked in with Street Fight to share the strategies physical businesses large and small should prioritize to prepare for the near- and long-term future.
The data that Goodway Group uncovered suggests that some marketers have begun to increase spend and re-enter the programmatic marketplace. Additionally, when looking at the regional level, the Goodway Group’s Benjamin Diesbach and his team are seeing that CPMs in many of the hardest-hit states have bottomed out, and they are starting to move closer to previous levels.
The impact on certain states reopening is still being felt, and while medium-to-longer-term dynamics remain volatile, Diesbach is seeing early short-term signs of programmatic marketplace recovery.
The fitness industry has changed overnight as Covid-19 forces gyms across the country to close their doors. While gym owners wait for the go-ahead to reopen their businesses to the public, many are moving their classes online as a way to generate revenue during the pandemic.
Local fitness studios seem to be having the most success utilizing online platforms designed specifically for their needs. Technology companies offering fitness management software and live streaming tools have stepped up to the plate with tailored offerings for fitness studios and gyms, and some are even finding ways to work together with Zoom, YouTube Live, and other popular video services.
Here are six options that are worth checking out.
The announcement follows massive layoffs at the company as advertising plunged along with SMB revenue in the face of coronavirus-fueled lockdowns. But a recent Brandify survey showed Yelp remains a massive presence in the local digital marketing space: 64% of US consumers are somewhat or very likely to turn to Yelp when searching for restaurants, second only to the leader across verticals, Google.
Yelp’s new features will prove especially helpful for businesses in the months, if not years during which Covid-19 continues to affect everyday habits, but a number of the changes align with digital marketing best practices that will serve Yelp clients well beyond the next 12 months. Below is a rundown.
In our own reporting and analysis (and through the words of our contributors) this month, we’ll define the playbook for local re-entry. As business ramps back up, what will best practices be for local staples such as search marketing and reputation management?
We’ve already covered how businesses are digitizing to adapt to the challenges of commerce in a time of social distancing, embracing curbside pickup, social advertising, pop-up distribution centers, online classes, and retail tech. With an even longer-term view, we’ll examine how this period of uncertainty will shape the future of local commerce.
Built by the team at AARP Innovation Labs over the course of just a few weeks, the Community Connections mutual aid aggregation platform gives volunteers and people in need a place to connect. It features a searchable directory of local mutual aid organizations, which are typically informal groups that provide key daily services, such as picking up groceries and delivering medications to people who are at high risk for contracting Covid-19. People can access the platform to find volunteer groups nearby, with links to those groups’ websites and locator maps.
Experts at helping SMBs adapt to a tech-first commercial landscape say the pandemic has led some businesses to tap into their long-dormant potential as digital marketers and sellers, possibly setting them up for gains in the aftermath of the recession. Now that e-commerce is the only path to survival, mom-and-pop shops, aided by martech firms, agencies, and Silicon Valley giants, are capitalizing on cutting-edge marketing and retail techniques, many for the first time.
Thousands, if not millions, of Main Street businesses will close their doors for good as a result of the pandemic. Those that survive will be technologically savvier and sleeker than they were before.
The headlines are everywhere. Open any newspaper, and you’ll see story after story about coronavirus and its impact on American society. But new data on consumer search behavior shows Covid-19 isn’t the only healthcare topic on people’s minds right now.
In an analysis of consumer search trends during the coronavirus pandemic, a team from the healthcare provider scheduling and search platform Kyruus found that search terms seemingly unrelated to Covid-19, such as “diabetes,” “cancer,” and “depression,” continue to rank more highly than those associated with the virus.
One in four small businesses has temporarily shut down, and 43% believe they have fewer than six months until permanent closure is unavoidable. With the small business community in panic mode, budgets for digital marketing have been slashed, and agencies are feeling the pinch.
“Everyone has been in panic mode, and rightly so. Businesses are worried about who might have to be furloughed [or] laid off, getting their PPP loans, what kind of regulations do they need to comply with, [and] what their contingency plans are for keeping any amount of revenue coming in,” says Simon Schwartz, founder of Locasaur. “Businesses are not interested in being pitched new marketing tech.”
Beacons, sensors, security cameras, and touchless payment solutions are all being used in ways they haven’t been before. Technology vendors are even changing up their offerings, or in some cases pivoting altogether, to better serve the retail market during this ongoing pandemic.
Here are five examples of technology providers offering innovative solutions for enhanced social distancing and improved shopper safety during the Covid-19 outbreak.
Petsmart and Kohl’s have it. So do Best Buy, GameStop, Dick’s Sporting Goods, and dozens of other national retailers. With social distancing orders in place across most of the country, curbside pickup is becoming an increasingly popular checkout option for retailers. Integrating curbside technology into existing ecommerce fulfillment programs hasn’t been without its challenges, though, especially given how hastily many of these programs have been rolled out.
Amidst all the uncertainty surrounding the coronavirus pandemic, savvy marketers are finding new opportunities to reach consumers at discounted rates. According to data compiled by Goodway Group, competition within ad auctions has gone down 13% since early March, and win rates are up 54% during the same time period.
The drop in competition within ad auctions is largely the result of brands pulling back on digital advertising during the outbreak. Most experts agree that dropping out entirely is a mistake, since it gives competitors an opportunity to convert new brand loyalists, but continuing to run existing campaigns without acknowledging the current economic and global health realities can be costly as well.
Consumers say they want to help the local businesses in their communities, and many are buying gift cards and launching GoFundMe campaigns to help their favorite restaurants, retailers, and brewpubs avoid going out of business. But restaurants and other essential businesses that remain open still need a way to let customers know how they’re selling their products and services, and how they can place orders without showing up in person.
The neighborhood social networking app Nextdoor is one of a number of platforms working on ways to ease that burden. Yelp, Facebook, and Patch are joining the fight.
Location intelligence firm PlaceIQ bought fellow location data and measurement company Freckle IoT. The financial terms of the deal were not disclosed.
The move comes just a day after the bombshell announcement that location leader Foursquare was merging with location data firm Factual. Speculation that the Foursquare-Factual merger could portend additional consolidation in the location data-driven marketing and insights industry came to fruition quicker than analysts could have predicted.
Location intelligence firm Foursquare is merging with location data firm Factual, the companies announced today. The financial terms of the deal were not disclosed. Factual founder Gil Elbaz will join Foursquare’s executive team and board of directors.
The deal pairs Foursquare’s best-in-class location-based attribution technology and developer tools with Factual’s top-notch audience segments, Foursquare CEO David Shim told the Wall Street Journal. Industry insiders say the move may portend additional consolidation during the COVID-19-fueled economic downturn and positions Foursquare as an even stronger leader in the space.
In the wake of Facebook’s Cambridge Analytica scandal, Europe’s General Data Production Regulation, and the California Consumer Privacy Act, the massive market for consumer data no longer operates unbeknownst to most Americans. But for digital marketing practitioners and the average consumer alike, making heads or tails of the industry is no easy task.
To break down the different kinds of customer data in the market, the impact of data sharing and selling on consumers, and the potential of privacy regulations to shape the industry going forward, Anindya Datta, founder, CEO, and chairman of Mobilewalla, recently checked in with Street Fight.