COVID-19 has fundamentally changed the way we conduct business, battering the global economies. It had disrupted many supply chains and forced numerous companies to close. To continue business endeavours, business leaders will be faced with challenges ahead with this crisis.
However, corporations, much less small businesses could not afford to hunker down.
Here, we will be giving you a few tips on just how you should keep your business afloat!
Leveraging Social Media
With the closure of public venues along with the Restricted Movement Order (RMO), it had led to a rise in social media consumption. The majority of the public is stuck at home with free time on their hands. To use up the time, many have resorted to spending more time on their devices and so, you should focus on your business presence on social media.
Start promoting online or even utilizing influencers. Think of ways on how to leverage your online clout to boost your business sales.
In-person sales have been falling or restricted by the government due to the pandemic and thus, businesses would need a new channel. One of the clear options is e-commerce. For companies with physical stores, is it the best way to keep generating revenue for your store by selling online.
This will allow customers to still shop with you but from the comforts of their own homes. It would also aid the government in containing the virus by minimizing the risk of infection in your store.
Service Model Changes
The crisis has changed the way businesses deliver products. With the virus still about, people are not as keen to interact with others, much less go out. Therefore, you should get creative and brainstorm different ways to deliver your product or service.
For F&B businesses, due to the general public being advised to stay at home, there has been an increase in food delivery requests. If you’ve ever wondered if you should hop on the food delivery bandwagon, now is as good a time as any.
You might be stuck at home like the rest of us, but that doesn’t mean you can’t keep your business running! Knowing how and when to pivot will be the key.