Chances in crisis? - Success despite COVID19
2020 will go down in history as the year of the COVID-19 pandemic. Worldwide safety precautions are changing our lives, even if that just means that we are forced to stay at home. In the business world travel restrictions, social distancing and lockdowns hit self-employed and small businesses particularly hard. Not only the fear of getting infected but also the fear of going bankrupt wears people down.
The economic consequences of the lockdowns are not really accessible so far. Worldwide governments are trying to grant allowances to spare people from long term damages.
But people miss out to realize that this crisis also bears big business opportunities for them.
Nobody can afford to let those go to waste.
Let’s think about what can help you out and how you can profit from those changed circumstances.
Although the current situation is a huge existential cut for many business owners it’s also an ideal time to come up with new advertising strategies to gain different exposure. Big marketing agencies try to reach out to new customers online. Most business owners agree that a strong online presence is a necessity to successfully navigate through this crisis.
Now is the perfect timing to launch your online presence. The COVID 19 crisis has led to an incredible boost in all sorts of online businesses. That is a fact. With social distancing digital services are the only way for people to satisfy their consumer needs. For business owners specifically targeted social media campaigns and an extensive web presence is essential.
Stay present and engage with new target groups. Show your customers you are still there for them. Not without success large corporations like Nike reach out to people with very easy and straight forward messages. Just to show support and gain their attention. They show sympathy with people in their current situation.
Moreover, you have to evaluate if there are any new customers you can target with your product and services. Do you have the opportunity to go online with even more services? In many industries like consulting, education or even yoga increased online services got noticed.
Think big – Develop new markets. Until now you mainly worked in regional markets? Smart online marketing enables you to approach potential customers worldwide. An international online presence – ideally multilingual- can multiply your sales opportunities.
Time to partner up. You have a great product or service but you don’t have the opportunity to market and sell it the right way? Have you ever thought about starting a cooperation with companies that are able to help you out with this? With a strong vending partner, you have the opportunity to minimise your own financial risk and lower your accrued costs. Or you can even do some clever cross selling strategy with your new partner. Concerning marketing and distribution you can always get some professionals in who show you how things are done.
Difficult times call for good deeds. Show your affiliation with your community. Many companies are unable to sell all their products. But before those products go to waste you can help out members of your community. With any donations in kind you will stay present within your community and people will perceive you and your company in a positive manner. On top of that new customers might be gained.
Be flexible. New times call for adaptations. Show you are flexible with your delivery and payment policies. Try to fulfil as many individual requirements as possible. With that flexibility you can attract even more customers and those customers will repay you with their future faithfulness. They won’t forget that you helped them out in difficult times!
Think about the future. Consider that: Each investment and every improvement you are implementing now will let you walk out stronger and even more powerful.
We all have the potential to create new advantages. Turn a crisis into a business opportunity.
We hope your business goes well but most important of all: Stay healthy and hang in there!