Social distancing is the new phenomenon that we all have an active role in. It is a necessary reality that we have to be a part of for our own safety and the safety of others as well. As you might guess, it comes with a lot of consequences for a lot of businesses. Entire industries rely on the eye to eye contact between a consumer and the product/service provider.
To thrive or even stay afloat, many businesses in various niches had to figure out ways to stay relevant and keep doing business. Social distancing, together with other safety and prevention measures are good for health but are bad for business. And by extension, the entire global economy will suffer as a result. But, we can still overcome this.
Even when we’re in the middle of a pandemic, we can still remain serious and make the most out of this or any other situation.
There are ways of making the most of any given situation, even one as widespread and serious such as this. In this article, we will cover the best ways of providing value to our community and maintaining engagement and relevance.
Price competitiveness
If you have ever used discounts to your advantage, now would be a great time. If you use these properly, price cuts and discounts will work to your advantage. Because of the global economy going into a recession, a lot of people lost their jobs. There are also those fortunate ones that kept their jobs but earn less than they used to.
By offering slightly lower prices, you will entice customers to turn to you instead of the competition. Depending on your industry and business model, come up with a way for both the customer and you to make the most of the situation. For instance, Customers can acquire a year-long membership (or subscription) at a cheaper rate.
They get off cheaper than they would have and you have just gained a satisfied customer for a whole year. It can be a win-win situation where both parties extract value from one another. If your business is a product-based one, offer free or discounted shipping.
Shipping agencies have also been working overtime to alleviate people’s needs for goods and services. Strike a deal and make the situation work in your favour.
Proactive communication
In a situation as uncommon as a global pandemic, events tend to evolve quite rapidly. No one knows what tomorrow may bring and how things will develop. Customers and potential ones need to be aware that you are still in business and operating. They need to be aware that you will be fulfilling their needs in a timely manner (hopefully).
You can achieve this by communicating with them to the best of your abilities. Any and all changes to the way you are going to be conducting business should be disclosed. All information, provided in a timely manner will be greatly appreciated by your customers. The concern for one’s personal wellbeing is real and therefore many companies are disclosing their safety and precautionary measures relating to hygiene in the workplace.
If you happen to be changing the working hours or are closing the store for a period of time, notify your audience accordingly. Now, more than ever, there are many avenues you can take to reach your customers. And you should be employing the strategy of utilizing as many of those as possible. Use your email list and provide customers with regular updates to your business practices.
Leverage your webpage and display your changes in a clearly visible location. This way, even newcomers and potential customers will be informed before deciding to engage with you. Last, but not least, depending on your industry and niche, try hosting your own online events to keep the business going. Virtual events services have been experiencing a boom for obvious reasons, so try and leverage this great tool to your advantage. Communication is key, now more than ever.
Investing in the future
Most business is slow today, or at least slower than what it used to be. That is unless you are either a shipping or food delivery service. For the rest of us, this is a perfect time to reflect and come up with ways to make what we are doing even better. Look for ways to streamline your business processes for when one day, inevitably we spring back into action.
Primarily, everyone should focus on two very powerful business aspects: digitalization and automation. What tasks could you delegate to a computer and which ones can you automate? Simple tasks that have a rigid schedule, are mundane and cumbersome are typically the prime candidates. Any tasks that are not providing direct value to your product, service and by extension, to your customers are best dealt with by being automated.
It also helps if you happen to find yourself understaffed and are not able to get your hands on a qualified workforce because of the pandemic. Find the bottlenecks in your business processes and make them as lean as possible. Depending on your field, it can be done in any number of ways, the only limitation is your imagination and ingenuity.
Customer feedback
The customer is the final and most important part of a properly functioning market. Therefore, they know best what they need. It stands to reason to ask your customers directly to provide insight on how to improve what you are offering. Do not be apprehensive on letting your customers offer you a helping hand through these tough times. After all, we are all affected and are all in this together. Listen to their feedback and find a way to incorporate as many of their ideas as possible in a way that is feasible.
It is a very special time that we are living in right now. No business is like the other and each one will have their combination of measures that they will have to take in order to come out of this situation unscathed. The bond between the customer and you has to be stronger than it ever was. Luckily for everyone, we also live in times where it has never been easier to relay information on a mass scale. You have the power to send a message to all of your current and potential customers, make it a good one.