How to Keep Your Business Afloat During the Pandemic
The COVID-19 crisis has disrupted almost all businesses from various industries around the world. Some big companies and small and medium-sized enterprises (SMEs) closed last year and failed to reopen. It's good that some businesses have managed to survive, while a few others have found ways to thrive.
If your business has remained steadfast and resilient up to this day, stay on top of your game. There are a few crucial steps you must take to help your business get by. While theCOVID-19 pandemic is here to stay, you must not let your guard down.
That said, here's how to keep your business afloat during the pandemic:
1. Check the status of your industry
The US Chambers of Commerce has identified some thriving industries during this pandemic. These include the eCommerce, cleaning, delivery, fitness, landscaping, gardening, telehealth, and home health industries. If your business belongs to one of these flourishing sectors, take advantage of the opportunities presented to you. Otherwise, you have to think of how you can make your business relevant to pandemic situations.
2. Understand your consumers' needs and wants
It's crucial to understand your consumers now more than ever. Due to the COVID-19 pandemic, they have a lot of challenges in meeting their needs and wants. As such, perform due diligence to assess the change in consumer behavior, determine your customers' pain points, and come up with your customer persona. Through these, you'll be able to target the right market and cater to their needs. Ultimately, doing so will help your business stay relevant in the pandemic.
3. Create a value for your target market
After studying your industry and target market, you must create a business value. Ask yourself how you can suffice the needs of people amidst the crisis. See what kinds of products or services you can offer. Keep in mind that most consumers are financially constraint during this pandemic. They will only spend their money on the essentials. If your business can provide your target customers with real value, you can see it grow and thrive during this COVID-19 crisis.
4. Make the necessary adjustments in your processes
Not only have the consumers got affected by the pandemic, but your business itself has also got severely impacted. Think of the pandemic protocols that have affected your physical store, supply chain, logistics, and sales revenue. For this reason, you must do what it takes to make the necessary adjustments in your business processes and applications. Assess your business situations in terms of challenges and opportunities. From there, you can address these challenges and take advantage of the opportunities presented to you.
5. Be robust in your digital marketing efforts
Despite the COVID-19 pandemic, you must continue to promote your business and sell your products or services. The best course of action is to implement some digital marketing campaigns. If you run an online store, for instance, consider employing eCommerce marketing solutions. If you're wondering what online marketing strategies to use, here are some of these:
SEO: This stands for search engine optimization. The process involves improving your website, creating relevant content, and building backlinks. With this in place, you can expect your site and content to take the top spot in the search engine results pages (SERPs). The ultimate goal is to boost your online visibility and website traffic.
PPC: This stands for pay-per-click advertising. Same with SEO, it endeavors to increase your web presence and site traffic. However, there's a difference between the two. While SEO is for organic search, PPC is a form of paid search. It means that you have to pay for every successful click.
Content marketing: This involves producing pieces of content for your business marketing and promotion. These include articles (blog posts and SEO content), images (product photography and infographics), and videos (promotional videos and live selling). As you may or may not be aware, content is king in the digital world.
Social media management: This entails using social media channels for marketing your business and promoting your products or services. Through these channels, you can post display ads and publish content pieces. You can also engage with your customers and build an online community of loyal customers. Whether Facebook, Instagram, or Twitter, social media can help your business and marketing during the pandemic.
The COVID-19 pandemic doesn't have to stop your business from running. However, you must do your part in helping your business get by amidst the crisis. That said, be sure to consider the valuable tips discussed above. With all these in place, you'll be able to keep your business afloat. Who knows? It may eventually grow and thrive even amidst the pandemic.