In these COVID- times, waking up is no longer the pleasure it once was. There is a fleeting moment when you feel whole again, but that evaporates faster than the burnt Earth’s summer rain. You try to switch on Television to help distract yourself but what you only manage to do is indulge in further misery. And as a business owner, you’re thrown into the deep ends of hopelessness regarding your business expansion during COVID. Let’s face the facts; no one could have predicted the cruelty of this virus since there was no preparedness. Based on an SHRM evaluation, 62% of small corporations say that they have experienced a decline in revenue since the advent of COVID-19.
Currently, many companies are working remotely, functioning at a limited pace, or shut down completely. It may seem like there are significantly fewer openings to achieve business growth. Despite the disturbing impact it’s having on businesses, there are still some things you and your team can do to grow your business during the pandemic. To set you on a path to greatness during this unprecedented time, we’ve designed a list of easy, quick, and effective ways for your business expansion during COVID-19.
Let’s hear them out.
- Be Deliberate About Your Marketing Efforts
In an economic slump, every nicker matters. Today, marketing decisions need to be data-driven and targeted to offer the best results. Use marketing platforms and technology – otherwise identified as “martech stack” – that assimilate with all your working stations so that you can track how your customers are responding to your ideas and how much money you’re making.
Other than that, consider hiring consultants who have business expertise in your industry to effortlessly boost your profile and uplift customer satisfaction across your platforms. Furthermore, if you want to advance your education, an online MBA no GMAT could be the perfect program for you. It enables working professionals to return to school several years after completing their primary degree without appearing in the GMAT examination. That’ll indeed cleanse your brain with more ideas to grow your business.
- Do The Most for Your Employees
Use this time to support and grow your team. Every company’s success is based on how well its people contribute their skills, energy, and ideas. A diverse and intelligent group is a company’s greatest asset and one that deserves fortification during tragedies.
That may mean reducing board salaries or bonuses to cut the need for layoffs. It may also mean adapting employee work duties to upkeep the company’s fluctuating focus post-COVID efficiently. And it may even mean offering the resources employees require to do their work successfully remotely.
- Get Artistic with Positioning
During the pandemic, regular spending habits have fallen by the wayside. While you may never want to capitalize on the crisis, these modifications present the perfect opportunity for your company to change up operations, adopt and invest in new technologies.
Many restaurants had to close their dining rooms to ensure safety to customers and staff alike, but that has not kept them from running their business. These restaurants have shifted to delivery or even curbside pickup. And some are hiring more employees to meet demand.
Take this time to reassess your business plan and service offering. Think about how COVID-19 will alter the behavior of your customers and what they will require. Perhaps you can digitize your services or products and offer new ways to connect.
- Go Online!
Currently, in-person events are a no-go. However, that doesn’t mean that your conference cannot go as planned. These days, you can connect with people from anywhere through tools like Zoom and live streaming on various social media platforms or host webinars to keep your business running.
If your business does not include tangible services/products, you are in an even better position to shift things online. Even brick-and-mortar gyms like Planet Fitness are offering online classes. Take notes!
Businesses can maintain this movement long after the barriers of stay-at-home have been lifted. Furthermore, even if your business deals with physical items, you can take advantage of existing technology to take most of your business online.
- Consider Your Customers’ Perspective
Look at your business from the vantage point of the audience. Are you affordable? Are you unique? Does the market need you or you’re just a side piece? There is always room for opportunities, but you need a well-executed and efficient approach in times like these.
To support the above statement, social media channels like Instagram, Linked In, Twitter, and Facebook have become even more essential for brands that want to remain connected to their customers in the age of store closures and remote work.
To leverage social media, identify your target audience and pay close attention to what they are doing and posting online. When everybody is feeling uncertain about the economy and their health, you can stand out by responding to your audiences’ current concerns and needs and addressing factors from their perspective.
- Host Virtual Events that will Educate and Interest your Audience
Hosting virtual events that are more than relevant to your target audiences’ needs is an excellent way to offer value while reaching people in the comfort of their homes. Since these events are becoming commonplace, you will need to discover ways to make your webinars stand out and offer value.
Your goal should be to create an interactive understanding. If budget allows, offer incentives such as giveaways and involve expert speakers to entice people to attend your virtual events. End your event with an excellent call to action that will leave your customers feeling connected to your business and willing to continue a bond with you.
Conclusion: COVID-19 Doesn’t Have to Break Hell on Your Business!
Indeed, these are challenging times, and many businesses are suffering as a result. As you’ve witnessed, there are ways to minimize the ever-lasting impact of this upheaval and even keep on expanding your business.
The solutions aren’t blurry; they are listed above!
Here’s a recap: Increase the value you offer, communicate effectively, take care of your people, think creatively about handling operations online, and not capitalize on the catastrophe. With these tips in mind, you can subsist and thrive in the post-COVID world we seem to enter soon.
Apart from that, if you are interested to know about Tips for Expanding Your Business then visit our Business category.
