Socialbakers CEO Shares Insights From Coronavirus Report
Offering a possible light at the end of the tunnel, Socialbakers CEO Yuval Ben-Itzhak recently appeared on The Tech Talks Daily Podcast to discuss the findings in the State of Social Media Report: The Impact of COVID-19.
“We are living now in a very special time with COVID-19 really changing people’s behaviors, and that impacts how brands are operating,” Ben-Itzhak said. “With all of the lockdowns and people staying at home, they now have more time to engage with content over digital channels.”
Ben-Itzhak and podcast host Neil C. Hughes talked about some of the positive angles to be found during this time, including the turnaround in ad spend and CPC in East Asia, which portends a possible return to a version of normal in other regions as they get through the coronavirus pandemic.
“In some regions in the world it looks like the end of the world is happening now, but no, it’s going to pass,” Ben-Itzhak said. “In regions that are recovering we’re seeing that people are more busy, so the supply is going down and brands are bringing back spend and the advertisements.
“That’s the more optimistic view of the world right now.”
Ben-Itzhak and Hughes also discussed what Socialbakers clients are looking for right now, which is namely data visualization of how their regions and industries are handling the pandemic. While some brands are just trying to survive, others that were prepared for the digital future are in positions to thrive.
And as those brands complete transitions to being fully digital companies, the Socialbakers platform is one of the tools they could use to really scale their operations.
“I think the brands who realize and embrace (digital transformation) and who manage to achieve that will be the ones who survive and see new opportunities in the market,” Ben-Itzhak said. “… So we’re very optimistic and preparing our operation for the new reality.”
What Are Social Media Platforms Doing to Help During COVID-19?
Key Takeaways
- The more a brand is digital, the more it can leverage the current market situation
- You can’t afford not to communicate; if you go silent, you will disappear
- Business will look very different after the pandemic
- How do brands need to respond to new behaviors?
- AI is here to support, not replace, human labor
Did you know that Socialbakers has its own podcast? Check out the most recent episode of The Social Cast, The Crash Course on Virtual Events, and subscribe below to never miss an episode:
Yuval has more than 20 years experience managing tech companies. He is a frequent industry commentator and regularly shares his insights on social media trends and marketing technology with international media like Reuters, The Financial Times, and the BBC.