With COVID-19 spreading across the globe, companies have been facing with the challenge of finding ways to work remotely. It’s our biggest desire that this phase of pandemic will be over soon, but for now, the best solution for most of the companies is switching to an isolated working environment. It’s pretty obvious that most businesses aren’t yet prepared for such an extreme change.
Depending upon the industry you’re working in, some losses are unavoidable, but for many business people it’s about reducing your losses and finding ways to capitalize on possibilities. Of course, this doesn’t mean taking advantage of the vulnerable by selling basic necessities at marked-up prices, rather it means making important decisions that will leave your business more effective at the other end of this challenge.
So, to grow your business more effectively in this currently challenging scenario and also after pandemic phase, following are the strategies which were followed by some successful entrepreneurs.
Understand your organization’s position in your environment:
To make smart and important decisions, you must understand your organization’s position in your field considering parameters like – Who are your main competitors in the current situation? You must also understand where you are headed. Can you shut down your business currently and reopen it unchanged after the pandemic? Can you regain lost ground?
Set Your Goals:
Create a list of targets with a brief description of action plan. If your business is a start-up, you will want to put more force and energy into your short-term goals. Often a new business idea must go through a period of research and development before the result can be correctly predicted for longer time frames.
Create two sets of goals:
- Short Term: range from 6 to 12 months.
- Long Term: 2 to 4 years.
It is not practical to expect that you can meet the needs of everyone as no business can. Choose your target market carefully. Understand the consumers:
- Needs: what unmet demands do your prospective buyers have? How does your business meet those needs at affordable cost and best quality?
- Problems:people will always buy things to solve a specific problem. What problems does your product or service solve?
- Perceptions:what are the negative and positive perceptions that customers have about you, your profession and its products or services? Identify both the negative and positive consequences.
Promote Your Business Online:
Online presence is essential for any business hoping to compete in the modern landscape. Internet describes by a considerable margin that how highest potential in terms of the number of people you can reach. You should prioritize online methods of marketing to reach maximum people to sell out your products or services and to get a kickstart to your business again.
Now a days lockdown has urged people to spend more hours of time online by surfing internet, as per the study previously online spending time was 3 hours 30 minutes in India and now it has increased to 6 hours. Screening time was 2 hours and now its 7 to 8 hours. Today it is a massive opportunity to promote your business online and stay connected with your buyers.
In online marketing you can concentrate on:
- Create Your Website or Application: After lockdown no one will be ready to go to shops and purchase anything. With the current situation in demand for making purchases online, as well as looking forwards to post-lockdown, you will want to guarantee that your website and factors such as usability and page speed are addressed now. Well, consumers might rise from this crisis not only more habitual to shopping online but more likely to stay there. Therefore, you will want to be able to handle the current and developing situation so that people can put trust in your business when they invest in your products.
- Search Engine Optimization (SEO): If you aren’t already working on your SEO during this time, it’s a good idea to give your website a review and optimise any areas where it may be in demand. Ensuring now that your content and design are optimised for search will put you in a better position when things begin to pick up again and competition increases.
- Social Media Marketing (SMM):To get fast and quality buyers you have to promote your business on social media platforms like Facebook, Twitter and Instagram. Reach out to individuals, and make sure to stay connected. In time, you could develop an audience of thousands, serving an anchor stream of traffic to your site.
- Execute an online chat tool so online buyers and browsers have a way to get their questions immediately answered.
- Develop easy, time-saving online FAQs for customers.
- Engage in your customers’ channel of preference (if they are reaching out through social media respond them through social media and if their channel preference is email, respect and use that channel).
- Create a special offer and let people grab the offer and claim later.
- If you want explosive growth with your business, think running a contest. While we often consider contests to be a fantastic way to get new users. It’s the exact approach used by some of the most successful new enterprises in the last decade. If you’re looking to expand your business fast this is a great way to begin. The difference is that contests are much easier to run with the tools available now. In today’s social media environment, Facebook is one of the best places to host a contest that will skyrocket your growth.
- Give your top customer a call and check with them if everything is okay!
Whether you currently implement any of the above or all these strategies, during a crisis there will always be things beyond your control and there will always be opportunities to try a more effective and efficient approach. For your business to thrive you must remain laser-focused on seeking ways to continue to build your business and keep your customers happy.