Scott Levy is one of the renowned names in the world of business and marketing. A best-selling author and tech investor, he has been a thought leader in the domain of digital marketing for 20 years now.
Founder and CEO of Boston digital agency Fuel Online (a company that takes care of digital marketing and enterprise seo for a few of the biggest companies in the world), he is considered by many to be the godfather and pioneer of SEO (Search Engine Optimization).
Considering his expertise in the world of Business and Marketing, we asked him a few questions about the new normal post-Covid-19 and its effect on the business world. This Is what he had to say…
With COVID-19 leading to a long lockdown across the world, when do you think businesses will resume? Also, what kind of challenges will they be facing after they do so?
In most parts of the world, businesses have already started reopening. Furthermore, people have hit their breaking point and are finding it very tough to tolerate the lockdown well. I feel it has run its course and people have spoken their minds. So life will resume and businesses will reopen whether state and local governments are ready or not. There’s only so long you can bleed, before you take matters into your own hands
How will companies run their businesses post Covid-19? Will there be any change in their sales and marketing approach?
You’re going to see companies run lean and mean with stockpile cash. As for sales, you’ll see companies get aggressive to refill their sales pipelines. However, their marketing approach will be slightly different and price-sensitive both on the marketing expense side and the consumer consideration side.
How do you see the future of Digital marketing post COVID-19? Which are the industries that will benefit the most from digital marketing?
I’m actually super excited to find out what’s going to happen. We’re going to see companies pivot, adapt, and grow. We’re going to see new markets and verticals that never existed before. They are going to be marketing up a storm.
As companies across the world reopen there’s going to be A LOT of noise. To break through this noise you’ll need to adopt creative, thought-provoking marketing and messaging strategies.
We saw the world embrace News broadcasts, Talk shows, Sports shows and more live from people’s living rooms. There’s a new norm in transparency and reality today, and marketing will follow suit. We’ll see more companies going live on social media, providing more value to the consumer. There are going to more creative with their messaging and storytelling. You have to or you’ll be left behind in the dust as companies scramble to fire up their sales machines again.
It’s lock down time! Millions of people are spending a lot of time on social media. Do you think companies should use this opportunity for Social Media Marketing? If yes, how?
Actually yes & no. I feel due to being locked indoors with very little to do, and the absolute social media saturation people are going to withdraw from social media for a while. While we saw a Huge increase in social media traffic and usage, I believe we are going to see a huge drop off. People burn out, and will need a break in my opinion. It’ll still be an excellent platform to reach people as it always has been, but not at increased levels as we get back to life. You’re going to have to be creative.
Do you think there will be different kinds of businesses and startups after COVID-19? What kind of business and startups can perform better post COVID-19?
Yes we’re already seeing that. We’re going to live a new normal. Things will never go back to exactly what they were before. We’re going to have new needs, new problems to solve and new opportunities to grab. Remote working, tele-health, and delivery industries still have huge holes and needs and thus we’ll see a new breed of startups and companies pivoting to fill those needs.
What advice you would like to give to entrepreneurs in the current situation?
As odd as this sounds, look at this as an opportunity. This is an opportunity to enter a new space and a new market, with new problems to solve. Pivot, adapt and find solutions to problems.
I invest in companies that solve problems and pain points, and consumers not only buy in to that but appreciate it. If you’re an entrepreneur and just got punched in the mouth, just make sure you “Never Ever Give up.” You did it once before; you can do it again. The secret to success is to be more passionate than the next person, and out work them.
Can you give any suggestions to increase the productivity of employees who are working from home during COVID-19?
It’s Incredibly important for everyone who works from home to maintain a schedule and a sense of normalcy. Get up at a normal work time, shower, and get dressed like you are heading to work. Sounds simple and trivial; but people need a routine and motivation. It’s easy to fall into a rut. Also regular scheduled team meetings are a must.
Do you foresee any kind of technological changes in the marketing of businesses/products post Covid-19?
We’re already seeing here at my digital agency Fuel Online. Clients are finally seeing the need to be transparent, personable and human. As an agency we’ve been preaching that for over 10 years now; but sometimes it’s hard to convince the old guard of that concept. You’ll see a lot more focus on storytelling and putting faces to brands.
Do you have any advice for investors? What kind of business should one choose to invest in, during the next year?
I think this is a huge opportunity for new ways of doing business, using productivity tools. I really like tele-health, and business collaboration tools like Zoom. I think we’re going to see a big emergence of new startups focused around remote workforce efficiency. Companies realize it’s possible to do business this way. Not only is it more convenient for their employees, it will also increase profitability by reducing overheads and office space.