How to sustain your business in Pandemic
The year 2020 was a bizarre one, it taught us to think on our feet as everything else changed around us as a result of the COVID-19 epidemic. According to a survey, it said that more than 30% of small businesses may go out of business due to this pandemic, and travel and food(restaurants) industries would probably be hard hit.
We have still not recovered yet and trying to fit into this “new normal”. In this article, we will discuss some of the survival tips for your business during this pandemic.
Now, we have seen two major shifts in the consumer behaviour as:
First switch is from enjoyment mode to survival mode. People are not looking for fine dining or exotic perfumes but basic grocery items that will help them to pull through these hard times at home.
Second being from outdoor meetings, conferences and seminars to video conference, calls, emails etc.
These two most common on-going trends have created a lot of demand for online delivery services and at-a-distance businesses such as digital marketing, IT, data analytics, social media influencers, youtubers etc.
Therefore, trends that will be seen most commonly across industries to survive are:
1. Contactless interface and networking- We have seen a surge in digital payments, self-ordering through QR code scan in restaurants or voice shopping through in-store kiosks. So, in order to keep running your business in great health you should ensure to make a good use of technology.
2. Digital framework- It is a must have infrastructure to build and run your business especially when today, we heavily rely on zoom meetings, video-consultation and video classes. There are many other tools that helps to manage your business at a distance such as Trello, Proofhub, Teamwork and many others.
3. Social media marketing/Digital marketing- Most of the small businesses tend to spend less on digital marketing but don’t make this mistake. As all of us are currently sitting in our homes, scrolling down on our laptop or mobile phones giving our major attention to internet. Don’t let this opportunity slip out of your hands and make the maximum use of it. You will get more impressions at less cost if you act now.
4. Online presence- Selling online is no longer an option now, rather it’s a necessity now. Businesses that had no website or social media pages opted to take orders through WhatsApp in order to keep their business intact. Most of the retailers are currently selling online utilizing their workforce for deliveries.
5. Protect cash flow- It goes without saying that having a smooth cash flow is absolutely necessary for any business to survive. It is necessary to implement strategies that help you to keep up sales and cut down unwanted expenses.
6. Strategic communication- Sinсe the раndemiс hаs сhаnged оur life, it has also changed the perception of your products among your customers. Hence you need to change your messaging accordingly. Now the value proposition is different for your product and it should be in accordance with the current scenario. Such as TV ads of Lysol now mentions that it kills all the harmful bacteria and virus including coronavirus.
7. Keep customers happy/Try to win more customers- There are many companies trying to prove more worthy for their customers by doing something exceeding their expectations such as Zomato delivering essentials or helping us with Covid vaccine finder which notifies you with an alert. You can also do something that can make your customer feel special in your own way.