If you are like most business owners, you are likely putting all your resources into trying to retool your business and figure out how you can stabilize your revenue stream. However, you may also wonder what you can do to help ensure your business survives the COVID-19 pandemic.
The answer is – plenty!
Here are some of the top things you can do to help maximize your chances for coming through this crisis ahead of the competition, here.
Optimize Your Contact List
Today, most consumers use email and check it more often since they are working from home. But they are also on LinkedIn, Facebook, Instagram, and Twitter. While email is great, social media is also an effective way to reach your customers so you can market to them effectively.
You also need to remember to tailor your message to the medium you decide to use. What works for Facebook may not be effective on LinkedIn.
Go After a Bigger Market Share
Most of the biggest players in any space – the ones who have low margins and high overhead – have slowed down significantly (both consumers and employees) because they have been forced to stay home. They are spending much less on research and product innovation, which means you need to be ramping up.
You can use this time to find out what your customers will need in both the short- and long-term and develop products that will meet this demand. You can use this forced timeout to innovate to ensure your ongoing success.
Increase Outreach Volume
Your customers want to hear from you. Thanks to the opt-in email, which has been around since the early ‘90s, people will sign up to receive your content. While this is great, if you do not have anything useful or meaningful to say, the customer is going to tune you out.
This is not the time to use the generic “this is what we have to offer this week” messages. You need to connect with your customers on a more personal level. Offer to provide help with the management of their changing needs in the online-only environment. If you can stay relevant, then your message is going to be read and well-received.
Build Stronger Personal Relationships with Suppliers and Customers
While you may not be able to get coffee or lunch with your best suppliers or customers, you still need to maintain personal relationships. When someone is forced to be more selective about who they interact or work with, they are going to gravitate to those who understand and know them on a more personal level.
To do this, you can offer a video-chat session. Discuss how things are going and other personal information.
If you want to ensure your business comes out on the other side of this pandemic and that you can continue on a trajectory of success, use the tips and information here. It will pay off and help ensure you get the desired results for your business. If necessary, hire the professionals to help you meet the changing needs of your customers.