COVID-19: A New Reality for Businesses Worldwide
A tragedy in every sense of the word, the novel coronavirus has infected more than 180 countries and killed over 80,000 people to date. Its effects have rippled through every aspect of our daily lives, forcing us to adapt in ways we’ve never had to before. Self-quarantining isn’t fun for anyone, but it’s absolutely necessary (remember: stay home, save lives!).
Nothing’s off-limits; the COVID-19 pandemic is imperiling millions of workers and the businesses they work for. Indeed, coronavirus has forced organizations large and small to face some harsh new realities of their own.
The coronavirus pandemic has changed the world forever.
We’ve been keeping a steady eye on things since the outbreak began, most notably its impact on the publishing and business sectors. Here’s what we’ve noticed so far.
An increasing number of tech companies are projecting revenue losses. Even industry giants like Facebook and Apple say revenues will likely be impacted because of supply chain instabilities and declining demand.
Ad revenues aren’t safe, either. Digital publishers in particular have indicated that the coronavirus is beginning to affect theirs. In a rare, stunning government filing, the New York Times said that their ad revenue will drop by 10% this quarter. “Uncertainty and anxiety about the virus” were attributed to the decline.
More and more publishers are opting to digitize their print materials, including publications and entire archives. The Daily Lobo, an independent newspaper at the University of New Mexico since 1895, suspended its bi-weekly print publication and published exclusively online. Traditional publishers are enlisting the help of online publishing platforms to convert their print materials into digital content. Consumer demand for Joomag’s products has increased, too.
Some publishers are reporting record-high traffic increases as people seek more information about the coronavirus. “We have seen a huge surge of visits to our sites,” says Pete Spande, publisher and CRO of Insider Inc., ”and coronavirus coverage is the primary driver of that surge.”
Marketing and sales teams are creating digital versions of their magazines, catalogs, brochures, and flyers to stay connected with their customers.
The coronavirus pandemic has created a “new normal” for HR teams, many of whom are starting to digitize their training materials. Online training can create a new foundation for effective virtual learning (and one that could outlast the virus itself).
To help businesses stay competitive and continue delivering fantastic products, Joomag introduced a new, affordable service plan called Start (39$/month). We’ve also launched the Joomag Enhancer — a new tool that lets anyone quickly and easily convert their PDFs into interactive HTML5 publications.
Increased supply chain and shipping challenges, a free-falling stock market, and impending layoffs that could minimize short-term sales gains are hurting ecommerce businesses. But on the bright side and in the long run, “online shopping will get a boost from the lifestyle changes being forced on consumers because of the coronavirus,” says Amish Jani — a partner at FirstMark.
Tech companies are allowing their employees to work from home because it’s the socially responsible thing to do. Doing so gives employees more flexibility in their work, but there’s a catch. Working in isolation can stifle creativity and problem-solving because there’s no in-person teamwork or collaboration involved. Video conferencing, however, is an effective way to manage remote teams from a distance. Video conferences can boost engagement and productivity because they minimize the chances of employees multitasking and eventually losing focus.
We here at Joomag are also working from home and contributing to the ongoing effort to slow the spread of COVID-19. Our customer support team continues to work and provide help whenever it’s needed. We’re with you all the way!
It’s been a rough year so far, and there’s still a lot of it left. But with uncertainty comes opportunity. So many businesses have already stepped up to the plate and chosen to lead by example. Fear and doubt have impacted the digital ecosystem, but many organizations are taking this opportunity to pivot their businesses models and focus on their long-term digital goals. The many brands we’ve talked to all agreed on one thing: a digital strategy just might be the best defense against the novel coronavirus.