IMPACT OF VIDEO MARKETING DURING COVID-19 PANDEMIC ON SALES OF MICRO, SMALL AND MEDIUM ENTERPRISES
Bilikis Omowunmi ADEBISICOVID-19 broke out in late 2019, triggering the collapse of businesses and economies worldwide. One of the main reasons for this disruption was the lack of adequate documented research on how businesses had previously coped with pandemics and similar crises.
During the height of the lockdown, many creatives, brands, business owners, and individuals embraced video content creation in various forms for different purposes. For business owners, the adoption of video marketing was a strategic move to stay connected with customers and their audience. This study investigates the role of video marketing on sales for Micro, Small, and Medium Enterprises (MSMEs).
To achieve this, the study employed a triangulation method for data collection. Firstly, demographic research was conducted using a questionnaire to gather participant data. Next, a sample of participants meeting the criteria for this study was selected for in-depth interviews to obtain detailed insights. Data collection involved audio recordings, accurate transcription, and rigorous analysis to draw meaningful results.
The majority of respondents utilized social media and video marketing. Notably, 90% of interviewed participants stated that video marketing had a positive effect on their sales during the lockdown. Furthermore, all interviewed respondents agreed that video marketing helped attract people to their businesses and subsequently build their customer base.
Given these findings, it is recommended that business owners be sensitized to the benefits of having their businesses online and attend relevant training to maximize digital platforms. Authorities and organizations should organize free or low-cost training focused on educating business owners about using various social media platforms for business growth. Additionally, business owners must take responsibility for learning proper bookkeeping and understanding their business’s performance metrics to effectively track growth and sustainability tactics. This approach will help identify which systems are effective for the business.
Further quantitative research is recommended to investigate the relationship between the number of social media platforms used for video marketing, online behavior of entrepreneurs, and the resulting increase in revenue and visibility for their businesses.