The COVID-19 pandemic has completely changed our normal way of doing business.
It is a time of turmoil, especially for small and mid-size businesses that don’t have the cash reserves of larger corporations. Despite all the uncertainty going on during this time, however, there are still things you can do to keep your business afloat.
1. Keep your customers up to date.
With so much uncertainty, your customers will be wondering what changes you are making in your day-to-day operations. You might have to close your bricks-and-mortar store or reduce hours to give employees time to sanitise your facility. You could be experiencing delays in fulfilling online orders.
Regardless of your operating changes, many people will be understandably worried about placing an order or coming into your store due to concerns about catching the coronavirus. This makes proactive communications regarding any changes or preventative measures you’re taking an absolute must.
Most retailers have now added COVID-19 notifications at the top of their home page highlighting changes. Others are using email lists and social media profiles to spread the word. Proactive communications can give customers peace of mind and help them remember your brand.
2. Consider new products to replace unavailable services.
If you are no longer able to provide your traditional services to your customers, coming up with “replacement” products could prove key to maintaining a source of revenue.
Online coaching, courses and tutorials, video series and e-books are just a few of the digital products you could offer to keep in touch with customers and drive revenue if you are unable to sell your typical products or services. Think creatively. Such ideas won’t just keep you afloat now — they could continue to provide revenue once business returns to normal.
3. Shift as much of your focus online as possible.
Even if you already offer products and services online, now is the time to be aware of how you can minimise in-person interactions to further slow the spread. Many companies have shifted to using Zoom and other video calling tools so meetings that were formerly held in-person can be conducted digitally.
To summarise, good communication, reviewing/revising your product lines and shifting your service online where possible are keys to stabilising your small business both now and in the future.
