DIGITAL marketing AS A POWERFUL TOOL FOR BUSINESS EXPANSION IN THE COVID-19 ERA
Case Study: Scib Insurance Brokers. The study population consists of 200 employees of Scib Insurance Brokers, Lagos. The researcher utilized questionnaires as the data gathering instrument. Using a descriptive survey research design, this study was conducted. The survey utilized 133 respondents, including managers, marketers, senior staff, and junior personnel. The acquired data were tabulated and evaluated using straightforward percentages and frequencies.
1.1 Background of the study
Digital marketing has helped businesses across industries to get real-time customer information and more efficiently produce and deliver customer value. This has resulted in a substantial rise in client base and top-line growth. Digital marketing research covers the sorts of media channels and emphasizes the objectives of digital marketing through the use of online media to affect target audiences and consumer segments. Khin et al. have investigated the stakeholders involved in digital marketing, specifically the merchant, the network, the publisher, and the client. Digital marketing places an emphasis on the customer via various media platforms. However, it lacks an integrated system and a strategic direction for these stakeholders to work on and advance towards smarter and more sustainable digital marketing; hence, these are necessary. The practice of digitization is consistent with the smart city concept promoted by academics and governments to address the current needs of the community through the use of a broader range of digital technologies, from the internet to digital twins and three-dimensional (3D) city modeling in geographic information systems (GIS). Therefore, businesses demand intelligent and sustainable digital marketing strategies and models to ensure proper implementation of such creative and sustainable digital marketing tactics.
Coronavirus is a novel disease produced by covid-19 that is currently harming the joints of living organisms worldwide. Covid-19 pandemic is one of the current worldwide health concerns that cannot be foreseen. According to the Centers for Disease Control and Prevention, covid-19 is a lethal and infectious virus. The Covid 19 epidemic has impacted the joints of living organisms. In the business sector, an unique coronavirus in terms of social distance circumstances compels multinational corporations to need millions of employees to work from home (Choudhury et al., 2020). At least 316 million people in 42 U.S. states have been told to remain home, and firms have subsequently been susceptible to the transfer to virtual workplaces or layoffs (Kim, 2020). Many employees are swiftly adapting to digital change, Zoom's online video conferencing software estimates a 78% increase in profits, and a Google Meet study indicates a 60% increase in user traffic, with users meeting online for 2 billion minutes every day (Kim, 2020). After the epidemic has receded, it is possible that employees will not wish to return to the office. The manager believes that some of the consequences of covid 19 on the workplace may be long-lasting, with flexible working hours and internet meetings progressively replacing traditional corporate culture.
The organization is experimenting with decentralized decision-making and new software to make the new digital work culture as successful and productive as working in a traditional office. The influence of covid 19 on consumer and market behavior is sometimes overlooked, despite the fact that firms must make this transition as efficiently and swiftly as possible. This is especially true given the importance of these repercussions to business continuity. Recent research conducted by management practitioners and academics in response to covid 19 has primarily focused on the digital transformation of the workplace (Kim, 2020). According to the “Mere Urgency Effect,” individuals devote the majority of their resources and time to problems (Zhu et al., 2018).
Description of the problem
According to a recent poll of 304 organizations, 42% are concerned about income; nevertheless, the majority of managers take a wait-and-see strategy instead of taking action to improve the situation (Kim, 2020). Managers may anticipate that sales will not rebound until the pandemic has passed and consumption has increased. However, this epidemic has an effect on the culture of the location and the culture of the customers, and it may alter the market's structure. Pandemics also impact digital transformation in terms of consumer behavior and how firms may change their digital marketing strategies. Consequently, the goal of this study is to determine how the commercial potential presented by digital marketing during the pandemic compares to the marketing perspective. Insights gleaned from consumers throughout the pandemic indicate that the market is moving to digital marketing. After covid-19, the rise of internet purchases offers new marketing success chances.
The purpose of the study
The study's aims are as follows:
To assess the effectiveness of digital marketing during the Covid19 pandemic at Scib Insurance Brokers.
To determine the relationship between digital marketing and business expansion at Scib Insurance Brokers throughout the Covid19 era.
To determine if digital marketing is an effective instrument for business expansion in the covid19 era for Scib Insurance Brokers.
The researcher formulated the following research hypotheses for the successful completion of the study:
Scib Insurance Brokers found no correlation between digital marketing and business expansion during the Covid19 era.
There is a correlation between digital marketing and business growth in the Covid19 age I Scib Insurance Brokers n
H02: During the covid19 age, digital marketing is not a successful technique for attaining business expansion at Scib Insurance Brokers.
H2: Scib Insurance Brokers' digital marketing is an effective instrument for accomplishing business expansion throughout the covid19 age.
Importance of the research
The research will be of great importance to students and all organizations. The study will provide a thorough understanding of digital marketing's effectiveness as a strategy for business expansion in the Covid-19 age (Case Study: Scib Insurance Brokers). The research will shed light on the function of digital marketing prior to and following covid19. The paper will also serve as a resource for future researchers who investigate relevant topics.
Limitations and scope of the study
Digital Marketing as an Effective Tool for Business Expansion in the Covid-19 Era is the focus of this study (Case Study: Scib Insurance Brokers). The researcher faces a constraint that restricts the study's scope;
a) AVAILABILITY OF RESEARCH MATERIAL: The researcher has insufficient research material, consequently limiting the scope of the investigation.
b) TIME: The time allotted for the study does not allow for a broader scope because the researcher must mix it with other academic activities and examinations.
The meaning of the terms
Digital marketing is the aspect of marketing that employs internet and online-based digital technology such as desktop computers, mobile phones, and other digital media and platforms to advertise goods and services.
Expansion of a business is a stage in a company's life that is laden with both opportunities and dangers. On the one hand, business expansion frequently results in a rise in owners' and employees' financial well-being.
Coronavirus disease (COVID-19) is a newly found coronavirus that causes an infectious disease.
DIGITAL MARKETING AS A POWERFUL TOOL FOR BUSINESS EXPANSION IN THE COVID-19 ERA