2020 sure has been a challenging year for business owners! In today’s marketplace, businesses are becoming more competitive and creative as a necessity for their survival. The recent uptick in coronavirus cases has caused uncertainty in people’s minds and the marketplace. Due to limited capacity, cut hours at work, job losses, and people scaling back in general, it can be challenging for businesses to reach new heights and scale as they would in normal times. 2021 is around the corner, and now is an excellent time to start investigating ways to improve your startup or business and get through these difficult times.
We shed light on some ways businesses can pivot during this crisis and improve going into 2021.
- Going Digital. When you go digital you remove the cost of renting a commercial space. Your business can utilize the power of the internet to make sales. It is also advisable to find a low-cost delivery service to help you scale your business and send off products to your customers who are not walking in to your physical space as foot traffic slows down.
- Offer your services to the community. Right now many communities are negatively impacted by the virus and they are suffering greatly from job losses, and enduring the pervasive illness. If you’re in the restaurant industry offer meals to essential workers and individuals in the medical field.
- Hold Promotions. A contest is an excellent way to capture emails, build brand awareness, and create brand loyalty. A promotional contest can give prospective consumers an opportunity to sample your product or service and your existing customer base gets an opportunity to engage with a product or service from you that they already know and love.
- Compliance. Be sure to cover your P’s and Q’s dot your I’s and cross your T’s. Transparency about the measures and protocols you are taking during the pandemic is very important. You will want to inform the audience about how you are staying safer and let them know that your brand is aware and observant.
- Connect with a Mentor. Join a nonprofit organization that assists startups and business owners with advice on growth and pivoting during times of crisis. Mentors can help guide you through the process of getting financial assistance, networking, and obtaining new leads. In these unprecedented times, ask for help.
- Stay abreast of the current events. You will want to know the current trends and status quo around the world when it comes to the pandemic, stock market, and real estate trends.
- Innovation. You can change your product or service in accordance with what your target market is looking for during these times. Conduct surveys about their interaction with your product or service and conduct surveys about their individual needs and preferences.
- Virtual Events. A virtual event is a great way to connect with your niche specific audience or connect with new audiences. An easy way to connect with new audiences is to have the virtual events hosted by notable influencers related to your niche. These influencers will bring their audience members to your brand. Virtual events can be interactive and replace traditional conferences and conventions. You can connect with your customers, clientele, investors, influencers, and prospects in a safer setting and without all of the overhead costs associated with an in-person event.
- Scale, scale, scale. When you pivot your business to be more immersed in the online world you can connect with customers from all over the country, if not all over the world. Join online marketplaces that would allow you to sell your products or services and reach new customers. Fulfillment should be done on a contractual basis with a delivery service. Delegate tasks in less expensive markets. This can be done by using a virtual assistant, shipping products directly from your own home, and working with fulfillment centers in less expensive parts of the nation or the world. Help make the experience for consumers easier when they shop for your product online. Make sure to create experiences that rival that of the competition.
- Marketing Strategy. You will want to have a defined marketing strategy that helps your business or startup navigate the coronavirus pandemic and Covid-19. The most effective marketing strategy will provide direction on relevant social media channels, how to leverage influencer marketing, how to leverage publicity, outreach, email marketing, lead magnets, demographics, psychographics, and relevant hashtags. An hour-long consultation can help you assess your goals and objectives and put a plan into action. Contact Alter New Media for your marketing strategy needs. We offer a 30-35 page marketing strategy document and hour-long consultations with our CEO, Nadya Rousseau. To date, we have serviced over 450 customers and clients worldwide.
Conversions in what may seem like scarcity is pivotal. Pivoting your business is pivotal. When you make some simple inexpensive changes, ask for assistance, innovate, and get customer feedback, the transformation of your business or startup during the pandemic can help your business not only survive but thrive. Listen to the advice of others, take low risks when it comes to business endeavors, and expect high returns. Invest wisely, be optimistic, and be certain to have a scalable operation that lasts well past any tumultuous times.