Turn Panic into Productive Action
The arrival of Coronavirus (or the COVID-19) has affected businesses of all sizes. From self-employed freelancers to huge corporate enterprises, all have stumbled and are facing a unique situation with unexplainable outcomes.
The large enterprises, though not prepared for this kind of situation, can take care of themselves and their employees – thanks to their financial and management backup. Freelancers on the other hand can apply for unemployment benefits, and can somehow manage to get through this situation. But it is the small businesses that are taking the brunt of the pandemic.
Most of the small business owners are now at home, with the bookings canceled or orders put on hold. This may be temporarily, but with uncertainty of the duration of the COVID -19, they are worried when they would get their next bill paid. They are not even sure if they can run their business like earlier.
It is time for the business owners to stop grieving and think about some practical ideas to overcome the situation. It is difficult when the entire world is panicked and it is hard to stay optimistic, but we need to cope up.
Seize the moment by staying ahead of your competition
A historically proven fact is that if we get it right during the lean time, there would be a huge impact on the growth of the business when the normalcy returns.
So during this time, when all your competitors are sitting at home worried about the future, you need to proactively work to get ahead of the competition.
Yes, the COVID -19 has hit every business in one way or the other. But you can’t sit and wait for the situation to unfold, you need to proactively work to make your business survive, in fact, succeed during this critical time.
When the traditional method of business is paused, you can plan moving it online to reach out to customers during this period. Whatever is your business model, I am sure, it can go online.
Your business might have a website, but you have to proactively act on it. Online presence and effective marketing during this uncertain period can help the SMEs stay ahead of their competitors. Not only will this help you during this period, it can help bringing in the new leads and sales in the future as well. A professional digital marketing agency can help you with this – take their help.
Use social media and communicate more often
Social media has evolved as a prospect for online marketing communication. And, it is the easiest and cheapest way for advertising and branding your products and services. More to it, the social media platform is where you can target customers and receive the maximum attention of the diverse audience.
The social media platform can be used for virtual consultations, providing helpful tips, and to effectively communicate with the clients. This helps to keep your business running and build trust with your customers during the crisis and even after the lockdown is over.
Most importantly, social media not only conveys the message, but also creates an opportunity for direct feedback from users. And so, for a quicker connection with the consumers, use the digital medium during the lockdown period for a better connection with the clients.
Rethink business model and invest in digital practices
Now is the perfect time for addressing the online marketing items that have been placed on hold and overlooked for other activities. It is the time to understand the online needs of the customers, resolve any on-going issues and to connect to more customers. Think about it!
When we look forward to the time post-COVID-19, every businessman will have to rethink their business model. Digital services can no longer be side-lined for any of the businesses. Instead, it and should be the core of the SME business models as it helps the business to be versatile, resilient, and can be used to respond to any similar crisis in the future.
Since going out is not safe, many people are using online services. Search traffic has increased significantly in the last few months. It is the time for small business owners to consider online marketing methods like SEO, Social Media Marketing, Google Ads – complete online marketing for that matter.
Think long-term and stay positive
The corona outbreak is definite to be over after few months. Eventually, lockdown will come to an end. When the normalcy returns and customers start to get stabilized, we need to bounce back effectively.
Your business should be ready to operate in the new environment, with the change in the consumer behavior that has already been altered. So, when the business is restarting, it is also important to plan the new way of doing business.
Remember, just like the SMEs, consumers would also take time to adapt to changes after lockdown. There would be many who would come out readily to buy products and services. Yet, a major group of people will be more cautious about their visit to the physical business location and may choose to transact with a business online. Hence, your business plan must re-assert its value to the customers as quickly as possible by adapting new ways of doing business.
Be ready for the bounce-back surge
While re-engaging your customers with the products and services through the digital platform, it is important to think about ideas towards a sustainable business model post-COVID-19.
The situation may look worst with the crisis that every one of us is going through currently. Let the lockdown phase end slowly and then you can rebound with a much better small business model.
The valuable take away from this pandemic is the significance of technology in modern business. Creating an agile, relevant and robust technology would help in the effective operation of the business in the future. COVID-19 crisis has accelerated the acceptance of new-age technology in the business -Don’t Get Left Behind!