Covid-19: Effect Of Coronavirus to Businesses

Now we have covid-19, which the whole world is fighting against but before the existence of covid-19… In the history of mankind, lots of diseases have come and gone with different symptoms and in many cases, they have few similarities. One of the deadliest pandemics that has struck the surface of the earth is the Spanish Flu. Lasting from January 1918 to December 1920, it infected 500 million people – about a quarter of the world’s population at the time. The death toll is estimated to have been anywhere from 17 million to 50 million, and possibly as high as 100 million, making it one of the deadliest pandemics in human history, behind the Black Death.

Today we have a similar case we are fighting called covid-19

The outbreak of the virus known as Coronavirus nicknamed COVID-19. What exactly is Coronavirus? What effect does it have worldwide?
Coronavirus disease (COVID-19) is an infectious disease caused by a new virus. The disease causes respiratory illness (like the flu) with symptoms such as a cough, fever, and in more severe cases, difficulty in breathing. Coronavirus disease spreads primarily through contact with an infected person when they cough or sneeze. It also spreads when a person touches a surface or object that has the virus, then touches their eyes, nose, or mouth. You can protect yourself by washing your hands frequently, avoid touching your face, and by avoiding close contact (1 meter or 3 feet) with unwell people. There’s currently no vaccine to prevent coronavirus disease (COVID-19). Around the globe, scientists in various laboratories have been working continuously to find a possible vaccine to assist fight this virus that has taken the world by surprise. Never was it imagined or thought that in the first quarter of 2020 the world would be held stand still without any war as the cause, but a pandemic. It has gone global with cases in over 150 countries.

The effect of COVID-19 on a worldwide scale is huge. Beginning with human lives, as at when this article is written, there are over 1.8 million cases and 118,000 deaths, with the United States of America accounting for over 570,000 confirmed cases and 23,000 deaths. Human lives are affected seriously in Italy where a minimum of five hundred persons die daily due to COVID-19 spread. It has affected all major football leagues around the world and has pushed the season’s league calendar more than expected, and this shift has affected other sports tournaments scheduled for this year such as EURO 2020. It was meant to take place from June 12 – July 12, 2020, but is now scheduled to take place next year from June 11 – July 11, 2020. Other events such as the Tour de France, Formula 1 Grand Prix in Vietnam, and even the summer Olympics Tokyo 2020 are now postponed. It isn’t just the sports events but the effect of COVID-19 on the business sponsorships attached to each of these events. How long the epidemic will last and its economic impact is difficult to predict. As a result, the stock and bond markets have entered a period of extreme volatility, leaving investors to wonder: What does COVID-19 mean for the global markets and economy? It turns out to be that the COVID-19 pandemic has given a huge blow to businesses worldwide. Yes, it has. Let’s look at some of them.

Effects of Covid-19 On Businesses.

1. Airline Industry: After the presence of COVID-19 in various countries around the globe, governments affected by its presence issued an immediate lockdown of all airports thereby grounding flights coming in or going out of the country. International carriers got the major hit financially than local carriers such as Emirate Airlines, American Airlines, Delta Airlines, Singapore Airlines, Ethiopian Airlines, Lufthansa Airlines, Turkish Airlines; just to name a few. They are all seeking a bailout fund to assist in running operations during this period. Even the International Air Transport Association (IATA) updated its analysis of the financial impact on global revenue, counting its losses for the passenger business to the tune of $63 billion.
On the other side of events, top giants in the plane manufacturing
industry – Airbus and Boeing, have grounded major production activities in all their factories thereby creating a decision that may lead to over 15,000 employees becoming unemployed in each company respectively. This same measure has also affected major airline companies around the globe to ask for loans from governments and banks that run into billions of dollars cumulatively, notwithstanding the layoff of jobs that would surely affect many employees as well at the end of the day. Surely anyone can be a victim of circumstances by being laid off from a job without a quick replacement at the moment. What does the future hold for many when this pandemic ends? Only time will tell.

2. Hospitality & Travel Industry: These industries are different but they are closely related because of the similar activities they share. One field that links them together is tourism which is one of the biggest and fastest-growing sectors in the world today and has been considered as a vulnerable industry i.e. in comparison to other industries as a result of the coronavirus outbreak. The effects of COVID-19 to these sectors have affected business transactions and income as well. One of the dimensions in the tourism sector is the use of Cruise ships in creating a getaway holiday on the sea. Just like airlines, cruise ship companies have seen a drop in demand since the novel coronavirus outbreak grew into a pandemic in recent weeks. The top three cruise ship companies in the world – Carnival Corporation & Plc, Royal Caribbean International, and Norwegian Cruise, alongside others have been deeply affected by the outbreak of COVID-19. They have sought for cash infusions that run into billions of dollars to remain solvent after the industry announced a suspension of operations due to the coronavirus pandemic. Unfortunately, some cruise ships such as Diamond Princess, Ruby Princess, Princess Cruises, Oasis of the Seas, Celebrity Infinity, just to name a few got hit by Coronavirus with the presence of a carrier in their midst. Caribbean countries including Antigua, Belize, The Bahamas, Dominica, Grenada, Jamaica, Suriname, St Kitts, St Lucia, St Vincent, and Trinidad have imposed travel restrictions and a few of them also imposed a curfew as a result of the presence of coronavirus in the country.

Globally, this action does not affect the industry alone, it also has a major effect on SME’s that have a business segment locally attached to the major companies in the industry. With a lockdown affecting the closure of businesses and traveling worldwide, entrepreneurs in such fields are bound to face more challenges financially if this crisis lingers because their source of income has suffered as well. Considering the evolving nature of the situation, it is too early to estimate the full impact of the COVID-19 on international tourism. For its initial assessment, the UNWTO (United Nations World Tourism Organization) takes the SARS scenario of 2003 as a benchmark. The UNWTO estimates that in 2020 global international tourist arrivals could decline between 20-30%, down from an estimated growth of 3% to 4% forecast in early January 2020. This could translate into a loss of US$ 30 to 50 billion in spending by international visitors.

3. Supply Chain: There are thousands of small and large production firms with an employment rate ranging from 1,000 – 50,000 that depend on China and Vietnam for pieces of machinery, raw materials and production of goods too. The outbreak of COVID-19 has caused a shaky effect on these businesses thereby causing them to source from other destinations such as India. China is gradually wriggling out of the COVID-19 outbreak in the country with recent statistics at the time of this writing, showing a significant drop in the number of new cases and deaths. Major factories in China are working round the clock to produce ventilators and face masks for highly affected countries like Italy, Spain, and the USA but it hasn’t changed the fact that lots of big firms such as Samsung, Apple, Microsoft, just to name a few that depend on China for production of spare parts of their products; have looked within and outsourced the production of their phone parts to countries like India and Vietnam. What does it mean for businesses?

How Businesses Can Cope

The effect of COVID-19 is a wildfire that devours anything it touches without showing mercy. As viruses know no borders, the impacts will continue to spread. Lots of businesses in various sectors around the world would surely face financial loss. The use of the internet for work-at-home activities has skyrocketed more than ever with many firms such as news agencies utilizing it effectively by converting a room inside the home of a reporter to a replicated temporary studio. Even phone companies like TECNO mobile have recently launched and sold phones by hosting an online launch event of their recent device CAMON 15 on April 2, 2020, due to the COVID-19 pandemic. Various online platforms such as Upwork and Fiverr extend the services of freelancers to companies and individuals that require assistance in carrying out tasks related to working online. If you are an entrepreneur, you can still achieve your business aim by working more online via various social media platforms by creating engaging content on your page. Why? Due to this COVID-19 pandemic, over half of the world population are currently indoors 24/7 round the clock and they are regularly online to keep their minds busy on anything being posted. In essence, businesses can grab this open window of opportunity and make the best use of it.
In summary, the world is at a standstill fighting the COVID-19 virus that is causing rampage daily and causing a large number of financial casualties to economies, businesses, and death to humans that have fallen victims to the virus. It is a disheartening situation locking yourself at home with little provisions pending when the government would lift the lockdown, and the reason is that you want to be safe from the virus and alive at the end of it all. When will that be? We do not know. We all pray for this pandemic to end.

The effect of it on various businesses globally is still rising but businesses can adjust to these present circumstances by making use of online platforms to ensure the objective/goal of the firm during Q1 of 2020 isn’t defeated. Until this pandemic comes to an end, we all need to adhere to these precautionary:

• Stay at home if your area is under lockdown
• Wash your hands regularly. Sanitize your hands always
• Maintain social distancing
• If you observe any warning symptoms, go see a doctor.

Image credit: freepik

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Social Media: 7 Easy Ways to Make Your Video Go Viral

Have you ever wondered how popular videos from your favorite social media video creators like mark angel comedy, Mr. macaroni, basket mouth and a whole lot more go viral? Or you are even wondering how do I even start to make my video go viral in this digital age where video content is king, all I can tell you is welcome on board; you are on the right flight to finding all the answers you need to make your video go viral on any digital platform you can mention be it Facebook, YouTube or even Instagram we have all the answers to make your next video go viral.

So, let’s begin our journey to finding the answer to all your questions on how do I make my video go viral.

For starters, what is a viral video? A viral video is a video that becomes popular through a viral process of Internet sharing, typically through video sharing websites such as YouTube, Facebook, Instagram as well as social media and email.

According to recent statistics by SEMrush 500 hours of video are uploaded to YouTube every minute worldwide (Tubefilter, 2019). That’s 30,000 hours of video uploaded every hour. And 720,000 hours of video uploaded every day to YouTube. Not just that YouTube Growth Trend Statistics In 2021, there are approximately 1.86 billion YouTube users worldwide, up from 1.47 billion in 2017. It’s estimated that by 2022, there will be 210 million viewers in the U.S., up from 192 million in 2018. In May 2019, there were 500 minutes of YouTube videos uploaded every minute.

What about Facebook? According to editor’s choice Facebook Video Statistics (Editor’s Choice) More than 4 billion video views take place on Facebook every day. 500 million viewers watch 100 million hours of video content on Facebook daily. 65% of all Facebook video views come from mobile users.

A recent statistic shows that 5 million videos were posted within 24 hours of the launch of Instagram Video. 50% of business Instagram accounts have posted an Instagram Story. 5.2 million users watched branded Instagram videos during Q1 2017.

Now you understand how huge video contents are in this digital age, so what are the practical ways to make your next video go viral?

Here are 7 practical ways to make your next social media video go viral:

Do some research first
Write compelling and informative titles
Use the Correct Tags and Hashtags.
Make Videos on Trending Topics.
Consider your timing.
Keep it short.
Stay engaged.

Below we’ll go into detail on each of these tactics for making your next video go viral on any platform be it YouTube, Facebook or even Instagram.

Do Some Research First

Don’t just post a video on any video sharing platform be it YouTube, Facebook or Instagram, creating videos on non-relevant topics will make it extremely difficult for you to succeed.

It’s important for you to study your niche. So, what do I mean by this? What I meant is study the kind of videos you want to create, ask yourself what kind of videos I may be comfortable in creating? be it comedy videos, cooking videos, or even motivational videos. This will help you uncover the popular subjects in your niche.

Write Compelling and Informative Titles

Titles are make-or-break when it comes to your video’s performance. Ask yourself: are you presenting your content as “must-see” or “meh?”

The key to crafting killer titles is grabbing your audience’s attention without resorting to clickbait headlines. People crave content that’s entertaining, and they likewise want to know what your video is about from the word “go.”

The takeaway here is that you should definitely spend time mulling over engaging titles rather than sticking with the first idea that pops into your head.

In terms of specifics, an oft-cited study from Tubular Insights notes that YouTube video titles should stick between 41 and 70 characters. Meanwhile, tools such as CoSchedule’s headline analyser recommends 55 characters for an engaging headline.

Use the Correct Tags and Hashtags.

Using the right video tags can help you get a sharp edge over your competition. Many video content creators are not using this strategy. This is why they are having a tough time with getting a significant number of views for their videos

Make Videos on Trending Topics.

Trending topics will give your videos more exposure. Your targeted audience will always make an earnest effort to keep abreast of the latest news. They want to know more about the subjects and topics that interest them.

Consider Your Timing.

If your goal is to go viral, you’ll probably want to post your content on a weekday. Some people recommend posting early in the week, too, so that you have as many days before the weekend as possible when you have a captive audience.

The reasoning behind this distinction is that many people are digesting content at work, on lunch breaks, or when they are otherwise browsing the Internet during the workweek. While you can still definitely go viral on the weekend, there may be fewer people looking for content at any given time. Additionally, you’ll want to avoid posting on holidays (unless your content is relevant to the holiday).

Keep It Short.

In the digital age, attention spans are shorter than ever. What does that mean for your content? Nobody (okay, almost nobody) wants to watch a ten-minute video unless it provides really clear value to them. Content that is most likely to go viral tends to be shorter in nature, ranging from a few seconds to a few minutes at most.

Stay Engaged

Finally, when you hit the “post” button, your job isn’t over! For one thing, you’ll want to keep monitoring the engagement and potentially interact with your audience if you start to gain traction. If your content is successful, you’ll also need media outlets to have a way to contact you to continue to fuel your success.

On the other hand, if your content isn’t successful, treat it as a case study and adjust for future content. Note any trends in engagement, what worked and what didn’t work, and any flukes that may have affected your content. Then, use that information to optimize your approach next time you have great content.

With these tips in mind, you’ll have the best shot at getting your content to go viral. May the odds be ever in your favour!

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Article was originally posted in technext.ng

Tiktok vs Instagram: Who is the king of video sharing

Tiktok Vs Instagram Introduction

There is always an augment between tiktok vs Instagram which is the world No 1 video sharing platform and advertiser on a tight budget are always finding it difficult between choosing tiktok vs Instagram which to spend their advertising budget on.

Tiktok Vs Instagram The War For The No 1 Video Position

It’s always a fight for everyone especially generation Z, there is always this question people always ask between tiktok vs Instagram which should I spend more of my time on, so today we are going to answer all your questions and give our suggestions on both platforms so without further ado lets dive in to get all your questions answered on the tiktok vs Instagram war.

If you don’t know Instagram’s influencer market is estimated to be worth over $13.8 billion dollars. More than half a million sponsored posts have been posted on Instagram in 2021 so far. While 89% of marketers say Instagram is the most important channel for influencer marketing, newcomer TikTok has quickly become one of the most popular platforms in the world in less than two years and a rising platform for influencers.

The Coronavirus stay-at-home order seems to have only escalated TikTok’s new user growth. TikTok became the most downloaded non-game app worldwide during March 2020 with more than 115.2 million installs. For comparison, in 2019, Instagram only averaged 111.5M downloads per quarter.

Just like Instagram, TikTok gives users of the app the ability to like, comment and share, however, it stops there. There aren’t options to repost or save content, however the app continues to have an impressive 689 million monthly active users globally as of 2020, Just recently tiktok announce an active user of 1 billion monthly active users globally.

It is known for its virality and one-of-a-kind content, making it so unique and impactful when it comes to influencer marketing.

Tiktok Vs Instagram Comparison

As a brand, there are multiple ways to get involved with a TikTok influencer. This includes creating challenges, which often go viral, meaning this is a sure-fire way to get your brand, its products, and services, noticed.

65% of TikTok’s users are between the ages of 16 and 25, which is something brands should be mindful of, ensuring that this also correlates with their own target audience and their demographics.

TikTok also offers analytics tools, where metrics such as video views and profile views can be found, as well as useful information about an account’s followers, which is particularly beneficial for brands when seeking a new partnership or collaboration.

Now, Instagram is the most popular social media app when it comes to influencer marketing, however, that doesn’t mean it is the best for you and your brand.

The needs of each business differ greatly, and so, this changes the platforms in which you need to utilise.

Instagram is so popular due to its versatility. With the ability to create and share professional-looking photographs, as well as short and long-form videos, Instagram caters for almost everyone, but that also depends on your target audience, too.

The content we see on Instagram is very much carefully curated – on main feeds, anyway. Instagram Stories are great at showing real-time content that is much more ‘off-the-cuff’, and features such as Reels and IGTV allow influencers to showcase their creativity and passion for content creating.

The largest portion of Instagram users are aged between 25 and 34 years old, so, to get the very most out of your influencer marketing campaign, this should resonate with the target audience of your brand.

Since brands have been using Instagram for paid ads and Influencer marketing for a long time, the site has earned a reputation among users as an ad space.

Tiktok Vs Instagram Conclusion

Both social media apps offer their users an entirely contrasting experience. With differing audiences and a completely different offering in content, TikTok and Instagram are great for influencer marketing campaigns for their very own reasons.

In terms of TikTok vs Instagram, it isn’t necessarily a case of which trumps the other, but which best suits your brand.

Think about your target audience and consider the content you’d like to represent your brand and its products or services, and you’ll find your answer.

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