Tips For Marketing During A Recession

Due to the Coronavirus Disease (Covid-19) pandemic, the world is going to enter a recession this year. Many businesses are shut around the world and many governments are imposing stay-at-home restrictions. As the world continues to grapple with this disease, closed businesses, wearing of face mask in public, skeleton work forces and other changes to our daily lives will become the new normal.

However, due to the business shutdowns and restrictions many consumers will feel poorer and poorer. They will find their buying power shrinking due to unemployment or under employment. Many of them will be tightening their belts due to uncertainty and in order to ride the storm longer.

With this said, is it still practical to keep marketing products during the coming recession? Marketers and businessmen should fasten their seatbelts for a long and difficult 2020 and keep in mind these tips for marketing during a recession.

Research The Customer

Instead of cutting marketing budget all together, companies and businesses should find out how their customers are redefining value and responding to the changes to their lives brought about by the virus.

Due to these changes, customer spending is changing. For example, many of them will be looking into wellness in order to boost their immunity. Many people are also forgoing vacations abroad due to strict travel restrictions and are shifting their spending to making their lives at home easier. Knowing how the customer is behaving due to these changes can help your marketing efforts become more effective.

Focus on Family Values

Many people are spending lockdowns alone or far from their family. Many of them especially with elderly family members cannot visit each other in order to avoid transmitting the disease. Most of all, many people including medical frontliners have lost their lives fighting the virus. All of this has made us aware how important family and friends are.

As hard economic times loom, many of us will be retreating to our communities, families and friends in order to seek comfort. Instead of going for campaigns with the rugged outdoors or enjoying solitude, replace these scenes with homey family scenes to remind customers that they are not alone.

Maintain Marketing Spending

Believe it or not, now is not the time to cut your marketing budget. Many of your competitors will be cutting their marketing budget during the recession. This is well documented which means now is the time to step up your marketing efforts in order to get a bigger market share.

Think about it. Competitors will be dialing down their efforts which mean they will be less visible to your target market. Now is the time to seize the opportunity to get a larger piece of the pie and you can only do this by spending money.

Focus on Existing Customers

Regardless of what you’re selling, your biggest asset is your existing customer base.

Make sure that you are focusing marketing energy on making sure that they are happy, satisfied and engaged. Bend over backwards to keep them loyal to your brand. If these customers are happy and satisfied, they will reward you by recommending your product to friends, family or through reviews.

Adjust Pricing Tactics

Customers will be shopping for the best prices. This is because they want more value now more than ever. You don’t necessarily have to reduce prices but you can offer quantity discounts or even extend credit to long-standing customers.

During recession, price cuts attract more customers compared to promotions like sweepstakes or mail-in offers.

Bottom Line

Consumer confidence is going to hit an all-time low. However, there are many studies pointing out the advantages of maintaining or even upping marketing budgets during a recession. Businesses who did this were able to increase sales and market share during the recession and afterwards.

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Is Zoom Safe? Tips To Ensure Your Meetings Are Safe & Secure

As the Coronavirus Disease (Covid-19) spreads around the world, businesses and employees are forced to adapt. Business shutdowns and stay-at-home orders are making work-from-home the new normal and we are all caught unprepared.

As of this writing, there are over 3 million infections around the world with the United States, France and Spain being the hardest hit nations. Many companies are adopting remote or virtual alternatives in order to prevent company operations from stopping. Email and VPN use are not enough because companies need to hold meetings too.

Skype, Microsoft Teams, BlueJeans, and GoToMeeting are familiar names when it comes to virtual conference solution. But now we have Zoom. Almost overnight, many companies and businesses have adopted the platform as the go-to option to hold lessons, business meetings, and sensitive discussions.

In 2019 Zoom had 1.9 million users. However, in 2020 it now has over 2.2 million new monthly users, making it the new “go to” meeting app for many teams and businesses. However, this surge in popularity has also created security ramifications. Severe security issues have hackers hijacking meetings, lessons and other online activities leading many users to question Zoom’s safety and privacy policies.

Keeping unwanted attendees from hijacking meetings is preventable if you follow the following advice.

Password Protect Meetings

The safest way to prevent hijacking is to password protect meetings. Passwords can be used to protect individual meetings, user, group or account level for all sessions. To do this, sign up with Zoom and set up a password at the individual meeting level. Go to settings” tab and enable “Require a password when scheduling new meetings”.

Authenticate Users

Zoom has a feature where only the host needs to set up an account in order to use the app. Attendees don’t need to sign up because all they need was the ID meeting or the host’s name in order to participate.

Secure meetings by only allowing signed-in users to participate. 

Join Before Host

Do not allow attendees to join the meeting before you (the host) has arrived. You can enforce this by going to “account settings”.

Lockdown Meeting

Once everybody has “arrived” the meeting has begun, go to manage participants>more and then choose “lock” to prevent others from joining even if they know the meeting ID.

Turn Off Screen Sharing

Zoom has a participant screen sharing feature but nobody wants a porno sharing Zoom bomber to hijack meetings. Disable screen sharing by attendees by going to “Security” tab in active sessions. 

Use Randomly Generated ID

As much as possible, avoid using a personal ID for your meetings. Opt for a randomly generated ID when creating a new event. Additionally, don’t share your personal ID publicly. This will prevent pranksters from disturbing your meetings.

Avoid File Sharing

Be careful with sharing files while on Zoom even if you know the attendees. Instead of using Zoom use other services like Drop Box and Google Drive for file sharing as they are a more trusted service.

Use A Waiting Room

Waiting rooms are useful since it is a feature that allows you to screen participants before they are allowed to enter the meeting. This is a good feature not only for meetings but also for interviews and online lessons.

Remove Nuisance Attendees

Just like normal face-to-face meetings that we used to have, only the people that attend the meetings are those that need to be there. In virtual meetings you can remove nuisance attendees by going to the more tab and then removing unwanted participants.

Check For Updates

Whenever security issues crop up, patches are deployed and functions are disabled. This is why Zoom needs to be updated regularly. Click on your profile in the top-right, and select “Check for updates” to ensure that you have the latest version of Zoom running.

Wrap-up

Zoom is easy to use and set up which is why many people like using the platform. While they have a lot of security issues that need patching up, following our advice can help make your meetings, lessons and social gathering safe from hackers and hijackers.

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Best Reasons To Hire Smaller Marketing Agencies

Marketing is the business of promoting or selling products and services. it has become an essential part of doing business because competition is natural and normal among companies.

When you are a business, you want the best marketing agency money can buy because you want to be noticed and stand above your competition. In most cases, management usually prefers to deal with big or popular marketing agencies in the hopes of overcoming their competition.

However, bigger might not always be better. In fact, dealing with big marketing agencies can sabotage your growth as a company.

If you’re a business owner, looking for ways to reach a bigger audience hiring a small marketing agency might be to your advantage. Here are reasons why.

Less Red Tape

When you’re dealing with a big marketing company, there are many people involved and this does not usually include the team you’re working with. You have to talk to so many people, messages can get lost in the shuffle.

If you have direct contact with the team that’s handling your account, chances are you still have to deal with many team members which can be troublesome and make it difficult for you to get a cohesive team effort.

Smaller agencies on the other hand tend to have smaller teams so there is less people involved in your project so you know you’re dealing with less red tape which can lead to faster and more efficient execution of your marketing efforts.

One-On-One Focus

One of the reasons why marketing agencies grow is that they are able to land big accounts or they have many clients due to their popularity. While this is good news for the agency, this can be bad news for you.

When an agency has lots of clients, they might prioritize big or VIP accounts over you. This can be bad news for you especially if you’re in a competitive space. The sooner you can execute your strategy, the bigger your chance of capturing your target market.

Since small agencies have fewer clients, they actually have more time to devote to your account. This one-on-one attention can be beneficial to businesses as it can help boost their chances of success and help them dominate their competition.

Better and Easier Communication

The staff at a smaller or boutique marketing agencies are usually more communicative and easily available. If you call a team member you won’t be transferred from one department to another or put on hold for minutes at a time. In small agencies if another person other than the one you’re calling answers the phone, the correct person is usually just a shout away.

In a smaller group, communication is easier. This is because there are fewer ears and eyes that need to hear or read your message. The less people involved, the easier it is to get the right message across which makes it easier for teams to execute your message and create an effective marketing strategy.

Flexibility

Smaller agencies are also more flexible compared to big ones. If you need an adjustment in your marketing strategy, chances are you will get it within a reasonable amount of time.

In bigger agencies, even the smallest changes can mean delays. This is because team members will need to submit the adjustment for approvals to the higher ups and then they need to make sure that it is within protocols which will again need approval from their boss.  Basically, it just means that changes need the approval of many people which in turn can cause costly delays for your part.

Small teams means there are less people involved which means better flexibility not only in changes that need to be made but also in terms of decision-making.

No BS

Big agencies are made up of industry experts and many of them can really help your brand or company stand out and succeed. However, they are also made up of businessmen who need to make a profit. This can be problematic because profit can be prioritized over the needs of your business.

Companies and their staff have also undergone corporate “brainwashing” resulting in team members that think alike or spew the same spiel over and over again. This is because big businesses tend to stick close to the protocols. This type of attitude can result in unoriginal strategies that can put you behind your competition or hinder your business growth.

Clients who want quicker updates, answers and progress have a better time dealing with small marketing agencies. They are usually quick to the point so conversations are usually on point so that questions are answered and updates are frequent.

Affordable

Big marketing agencies don’t get where they are without charging an arm and a leg. Some of them even charge exorbitant amounts for just a simple promotion. This is because they know that their clients can afford it. If you’re a small business owner, huge marketing bills are not only unaffordable; they can also become a drain to your cash flow.

Luckily, smaller agencies are more wallet-friendly. This is why many corporate clients are getting wiser and are looking for smaller agencies that charge more reasonable fees for their services.

Wrap-Up

For big marketing agencies, a client is just another client. However, for smaller agencies, landing clients is a matter of survival. This is why they tend to be more passionate with projects and with this passion comes more creativity and better focus.

Small marketing agencies are a breeding ground for unique ideas and diligence. While they might not be as popular as their bigger cousins, hiring them can be more advantageous for business needs.

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Business Grants & Assistance For Businesses With Digital Strategies

It’s a tough time for businesses around the world right now. Due to the Coronavirus Disease pandemic (Covid-19), many businesses are forced to shut down due to government restrictions in order to stop the spread of the disease.

Business closure has a big impact on business owners. Firstly, their employees will need financial assistance to ride through the closure. Second, bills such as rent and utilities continue even during lockdowns. This can be burdensome to many businesses especially small ones.

Many countries are introducing economic stimulus not only to assist their citizens during this trying times but also to help businesses stay open and ease the burden. If you’re an Australian business in the Digital Strategy space you’re in the right place because we have some information on grans and assistance that can help you through these hard times.

Hume Business Grants

Small to medium sized businesses that need support will find Hume Business Grants’ assistance timely. They provide assistance to businesses that show financial hardship and can demonstrate that the grant will help the business retain employees and support sustainability.

Grant packages are as follows:

• Up to $5,000 for businesses with up to 5 employees    
• Up to $10,000 for businesses with 6 to 10 employees    
• Up to $20,000 for businesses with 11 to 20 employees

Businesses that can avail of this grant include:

• Business fittings, including retail, wholesale and hospitality shop fittings, pop ups Digital strategy
• development, including IT and software
• Online and e-commerce platforms, including:   website design and development (web pages, mobile apps, audio and visual media) and mentoring and training in online e-commerce activities 
• Digital marketing and promotion
• Online learning and webinars
• Staff participation online training courses, seminars, workshops where appropriate
• Recruitment and training Product development
• Supporting current permanent full-time or part-time employee leave entitlements
• Payment of utility bills.

Eligible applicants should be located within Hume City, have a valid Australian Business Number (ABN), have 20 or fewer permanent FTE employees, demonstrate how the grant will help them respond against the impact of Covid-19, have appropriate permits and licenses,

More information is available in Hume Business Grants Guidelines.

Melbourne’s Quick Response Business Grants

Businesses in Melbourne can help find relief with the city’s quick response business grants aimed to provide financial assistance to eligible businesses affected by Covid-19.

Businesses that can avail of this grant include:

• Invest in capital works during this challenging time and position their business to strongly benefit from the economic recovery when it happens.    
• Develop their online and e-commerce capabilities;    
• Undertake training and professional development to better prepare for return to business activities.

With the following funding packages:

• Up to $5000 for investing in online and e-commerce activities.    
• Up to $2000 for training and professional development.    
• Up to $10,000 for capital works projects (matching dollar-for-dollar) to adapt to changing conditions.

Businesses have to be located in the city of Melbourne, have an ABN, be small to medium size, be a small to medium sized non-profit organization, be able to demonstrate how the grant will support the business or non-profit organization in response to the impact of Covid-19.

More information is available at Quick Response Business Guidelines.

R&D Tax Incentive

Claim rebate up to 43.5% of the costs related to research and development for new products and services.

In order to avail of this tax incentive, businesses must undertake eligible R&D activities that involve research and experimentation, spend over $20,000, operate as a company and have R&D activities in Australia.

In order to claim R&D tax relief businesses need to lodge an R&D activity registration every year that describes the R&D work.

An R&D tax consultant will be able to give you more information on how this incentive works.

Digital Grants Program (Queensland)

Avail more than $10,000 Small Business Digital Grants for purchasing hardware, software and services such as digital coaching.

It aims to provide small businesses with access to digital technologies and services to enable them to work smarter, engage with the global economy and make the most of online business opportunities.

This support for small businesses is from the Queensland Government, through the Department of Employment, Small Business and Training. This program contributes financial support for businesses to improve digital capabilities, work smarter and take advantage of online business opportunities.

Eligible projects must clearly demonstrate how the product or service will significantly enhance the digital capabilities of the business and how they will impact on the growth of the business.

Digital technology or business must fall under the following categories:

• Receiving payments or selling online    
• Digital planning, digital marketing strategy development, and digital training    
• Specialized digital technology and/or business specific software    
• Content development (web pages, mobile apps, visual and audio media etc.)

More information is available in Small Business Digital Grants Program Guidelines.

Small Business COVID-19 Support Grant (NSW Businesses)

Small businesses feeling the impact of Covid-19 on their livelihood can avail of the Small Business COVID-19 Support Grant as part of the NSW Government Small Business Support Fund.

Small business owners and non-profit organizations are eligible for a grant of up to $10,000 if they:

• Have between 1-19 employees and an annual turnover of more than $75,000;
• Have total Australian wages below the NSW Government 2019-20 payroll tax threshold of $900,000;
• Have an Australian Business Number as at 1 March 2020, are based in NSW and employ staff as at 1 March 2020;
• Are highly impacted by the NSW Government Covid-19 Restrictions on Gathering and Movement) Order 2020 issued on 30 March 2020, defined as a decline in turnover of 75 per cent compared to the equivalent period (of at least two weeks) in 2019; and
• Have unavoidable business costs not otherwise the subject of other NSW and Commonwealth Government financial assistance measures.

More information is available in Small Business Covid-19 Support Grant.

Australian Small Business Advisory Services (ASBAS) Digital Solutions

ASBAS Digital Solutions provides small business with low cost, high quality advice on a range of digital solutions to help them meet their business needs and grow their digital capabilities.

Services can be accessed in the following areas:     

• Websites and selling online    
• Social media and digital marketing    
• Using small business software    
• Online security and data privacy.

To receive assistance, you must be operating for-profit and have 19 or less Full Time Equivalent employees. Sole traders can also access services.

Find Your Local ASBAS Digital Solutions Provider.

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Online Meeting & Collaboration Tools For Lockdown Efficiency

As the world slowly recovers from the Corona Virus Disease (Covid-19) rampage, many businesses remain shut with some employees and employers opting for online meetings and collaboration in order to continue work.

The beauty of online tools is that many of them are easy to use and offer a cost-effective (and sometimes free) solution to businesses who are finding ways to stay operational despite the threat of the virus.

Let’s take a look at some online tools and aps that can help you stay connected with teammates during this lockdown period.

Google Tools

The Google Tools Suite is a useful collaboration software that has almost everything a team needs to stay productive during lockdown. For instance Google Docs allow users to collaborate on spreadsheets, presentations, forms and many more. The comments section allows teammates to leave comments and feedbacks for changes and other requests.

Google Drive is another amazing collab tool. It is basically a cloud storage solution for team members and users to use as a file storage system. Each user has around 15gb free space which is usually enough to keep the team organized.

Other useful tools in the suite include Calendars to keep track of deadlines, meetings and events. If you want “face-to-face meetings”, you can turn on Google Duo for group video calling.

Google clearly has most of the tools employees and teams need to stay in touch. Their tools are usually free and easy to use.

Zoom

Zoom is currently in the spotlight as a team meeting tool. This app is a cloud-based video call and online chat system that can be used to meet online with or without video. Zoom users can record sessions, collaborate on projects and use the app to share and annotate each other’s screens.

One of the best features of Zoom is that you don’t need a Zoom account to join a meeting. While an account is needed to host one, attendees can just download the mobile or desktop app and then add the meeting ID or personal link name to join.

Zoom is not only being used in workplace meetings and collaborations, it is also being used by educators for continued learning during lockdowns around the world and as a virtual tool for webinars and training sessions.

Slack  

Slack is an all-in-one collaboration tool for teams that like friendly banter, important discussions, file sharing and more. Slack divides communication into topics so that you can stay involved with information that matters.

You can also directly message other team members or crate chat groups for side conversations. It also features easy text markup tools, powerful search, a team directory, and all kinds of useful integrations with other apps.

Slack offers a better solution to back and forth emailing or using a group chat like WhatsApp. Both are hard to follow and don’t scale well when other team members are added. Other features like threaded conversations, @ mentions and the ability to make calls within the app make Slack a modern collaboration tool worth exploring during lockdown.

Taskade

Taskade is a new collaboration tool and aims to provide a “unified” workplace where teams can monitor tasks and work together easily. It is also easy to use. Just add a task then choose to display in various forms like list, board, or mindmap.

Taskade has a free plan with everything you need to get started. You can upgrade to remove a few limitations but that’s not necessary for small teams.

Bottom Line

 

There are other tools that are mention-worthy but before choosing a collaboration solution, make sure that it is easy to use. If the system is amazing but takes time to set-up or has a steep learning curve, it might hinder the efficiency of your team.

Pay attention to privacy options too. Collaboration with a team does not mean to say that all collaboration and files should be public. There are many times where teams prefer private conversations to work on sensitive topics.

Any of these tools offer efficiency in terms of data management, storage, communication and ease of use. These tools will make working at home and collaboration easier to manage and stay in touch.

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Covid-19’s Impact On Search Trends

The Corona Virus Disease (Covid-19) pandemic has impacted all industries and businesses around the world. What started as a “pneumonia-like” disease in Wuhan China has become a global plague that has infected almost 2 million people and killed over 120,000.

Businesses around the world are closing their doors and governments are imposing nationwide lockdowns to slow the spread of the virus. As the world braces for a global recession it is easy to see that changes to daily life are becoming clearer which in turn affects the economies of the world.

However, it is clear even today that Covid-19 will have a long-term impact, not only on businesses but on individuals too. The thought of going back to our normal lives in a few months now seem like a pipe dream considering the fact that global infection rates are still on the rise. Businesses that closed due to the virus will take time to get back on track if they ever do. The good news is that online shopping seems to be on the rise, leading to a major consumer shift.

Given this change, it is interesting to see what’s going on in terms of what’s happening from an SEO perspective. What are people interested in nowadays? What are they searching for? How are their online shopping behaviors changing?

Here are some of Covid-19’s impact on SEO.

Essential eCommerce Stores

The search for essential ecommerce stores are on the rise. Searches for “toilet paper near me”, “sanitizers near me” or “masks near me” and other related goods are on the rise. Covid-19 has brought major upheaval to everyday life that items not normally bought online are now being searched by people around the world.

When China got infected during late December and peaked during late January, the world experienced a shortage of face masks. In Asian countries like Hong Kong Japan and Korea, face mask use is normal in order to prevent the spread of disease. However, when Covid-19 started to appear outside China, sales and search for face masks soared in neighboring countries leading to shortages. The same is true with hand sanitizers, rubbing alcohol and gloves.

When the virus spread in the USA, it lead to hoarding and panic buying of toilet paper. This kind of behavior is vastly different from typical online sales because not only were masks and toilet paper normally bought in pharmacies and groceries, countries like the USA normally don’t wear them.

Health and Wellness

Because Covid-19 has influenza-like symptoms, many people are looking for ways to boost their immune system. Searches for health and wellness products like vitamins, anti-viral herbs, correct hand washing technique, essential oils and home remedies are rising. Searches for coronavirus symptoms are also seeing an uptick.

Covid-19 has no vaccine and cure as of this writing, searching for ways to boost immune system is a way for people to feel that they have some control over their bodies. Other searches related to home exercising, workouts and healthy living are also on the rise. The health and wellness industry is enjoying a +17% in searches right now.

News Medium

Covid-19 is a new disease with no guaranteed form of treatment or therapy. At this point it is important to separate facts from fiction which is why many people are searching for credible news sources regarding the disease and the current pandemic.

People want to know the real score which is why they are looking for news publications, credible sources and authoritative figures to deliver real data in order to arm themselves with the necessary knowledge to give them a fighting chance with the disease. News mediums are seeing a +34% increase in searches.

Travel

Search for travel deals and destinations are suffering an all-time low. With many countries imposing lockdowns and shutting down non-essential business, tourism and airlines are some of the losing industries in this Covid-19 pandemic.

News of cruise ships being refused by ports and limited flights to many destinations and stay-at-home orders are causing a downward trend not only for travel websites but for airlines, tourism and tours across the globe. Overall, the travel sector is seeing a -46% in searches.

Recipes

Since many people are stuck at home, they are entertaining themselves by cooking or learning how to cook. They are also searching for food deliveries.

Searches for Thai food, pizza and fast food are seeing more than 50% growth, while restaurants and cafes are down a significant number.  As more people are being asked to stay at home a while longer in order to curb the spread of Covid-19, searches for recipes and food deliveries will continue to see an uptick.

Wrap-Up

Dealing with Covid-19 will be the “new normal” for the foreseeable future. As infection rates around the world continue to rise, consumer behavior and search trends will continue to change.

Because of this change, SEO needs to evolve. Monitoring consumer behavior as well as SEO patterns will help you become a better marketer and boost your search engine ranking.

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How Businesses Can Respond To The Pandemic: Lessons From China

In late January this year, the situation in China looked glum. The country was the epicenter of the Corona Virus Disease (Covid-19) which would take more than 3,000 lives. But the crisis is spreading. What was once concentrated in the province of Hubei, is now spread to almost every country in the planet. Some of the hardest hit are the United States, Spain and Italy.

Today, many countries around the world are enforcing stay-at-home orders and ordering the closure of many “unessential” businesses. This means theatres, art galleries, restaurants, pubs and bars, cinemas and many more are shuttered. Countries are also scrambling for an appropriate response because so far this disease has no cure.

Each country is clearly facing different challenges. However, there are opportunities that companies and businesses can learn from what happened in China. With Wuhan lifting lockdown restrictions in the city, the country appears to be on the verge of starting an economic rebound. While this recovery is still vulnerable to a new wave of infections, many Chinese companies are now looking towards post-recovery planning.

Here are some lessons business leaders and companies can learn from China.

Constantly Reframe Business Model  

The Covid-19 pandemic has led businesses to unchartered territory. Not only because it disrupted supply chains when the disease broke out in China but also because it spread worldwide rapidly, causing many governments to become unprepared.

Unlike the 2002 SARS epidemic where it primarily spread to Asian countries, Covid-19 is on a worldwide rampage with numbers of infection and deaths surpassing SARS with a large margin. In order to cope with uncertainty, business leaders need to constantly reassess and reframe their business model.

For example, businesses in China quickly learned to shift from brick-and-mortar operations to an online model. There were businesses that were quick to realize that with lockdowns in place, nobody would be able to go to grocery stores and shop, which is why many of them shifted focus to online efforts or by supplying small stores. As a result they were able to recovery more quickly.

Create Clarity And Security For Employees

In times of crisis, it can be hard to find clarity. It seems that during this Covid-19 pandemic there is too much uncertainty and constant change which is confusing not only to individuals but for employees as well. Since the environment is always shifting, guidance and official advice might be contradictory, out of date or even absent. It is natural for employees not only to become confused but also to find new ways to adapt. However, they won’t be able to do so unless there is clear and consistent information from upper management.

There are Chinese companies that crated guidelines and support to employees early. This proactive kind of leadership provided guidelines in terms of organizational procedures for employees. For example, there should be a instructions for employees to limit exposure to other colleagues when dining and emergency plans should such situations arise. Chinese employers required regular health checks for their workers and their families during the early stages of the outbreak. Many companies also procured safety equipment such as masks and PPEs to ensure that workers are kept safe even while at work. As a result, there were companies that were able to reopen production lines around mid-February.

Be Labour-Flexible

Many businesses in China were hit hard by the Covid-19 pandemic. Restaurants, bars and pubs had employees that were vulnerable to the changes that happened in the country. Many restaurants were forced to close down especially in locked down cities.

In order to provide work to their employees, creative Chinese businessmen reallocated employees to other businesses that needed manpower. For example, in areas where there were cinema, restaurant and hotel closures, employers shared their workforces to other companies instead of furloughing them. They were shifted to a new retail supermarket chain owned by Alibaba to help with delivery services due to the increase in online purchases.

Shift Sales Channel Mix

Many brick-and-mortar stores were affected by the Covid-19 Pandemic in China. With many businesses shuttered closed and citizens ordered to stay at home, sales from traditional forms of business quickly dwindled to nothing.

Agile Chinese businessmen were quick to adapt to these changes. A cosmetics company called Lin Qingxuan for instance was forced to close most of its physical stores including those in Wuhan, potentially leaving many employees out of a job. Their strategy to avoid this was brilliant. They deployed over a 100 beauty experts from those stores and turned them into influencers and used tools like WeChat to engage customers. As a result, sales in Wuhan were able to see a 200% growth compared to last year’s sales.

Look For Opportunity

With many businesses forced to close in order to curb the spread of the virus, many business leaders and owners felt hopeless. The pandemic has impacted many businesses and the Chinese economy. However, there were also companies that thrived and even saw a boost in their sales and profit.

Lockdowns and pandemic can bring unexpected opportunity too. B2C (business to ecommerce), remote meeting services, social media, hygiene products, health insurance and other businesses were able to find opportunity despite the hard times. For instance a social video platform called Kuaishou promoted online learning in order to compensate for school closures. They partnered with the country’s Ministry of Education to open a national cloud classroom so students can continue to learn in the safety of their homes.

Bottom Line

As the pandemic continues, more lessons can be learned not only from China but from the USA, but from Korea, Spain and Italy too. Companies that are quick to adopt changes in to their organizations can protect their employees and businesses more quickly. Since the Covid-19 pandemic is quickly changing how we do business, an adaptive approach should be applied broadly and beyond crisis management.

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Starting An Online Consulting Business

Today, terms like “social distancing”, “shelter-in-place” and “work from home” are becoming common. The Coronavirus Pandemic is changing the way we live and do business. It is forcing businessmen and workers to reassess and adjust in order to survive these hard times.

The good news is that the internet is Covid-19-free. This is why it is ideal for businessmen to focus their efforts online because many people are turning to the internet not only to stay connected but also to shop, do business or get advice in order to avoid close contact with other people.

Transitioning or starting a consultation business from the physical world to the digital is relatively easy. If you’re a consultant who wants to go online we have some tips for you so that you can capitalize on this opportunity.

Assess Your Strengths and Skill Set

Most of the time, consultants are hired in order to solve problems businessmen can’t. Therefore, it is important to have a deep knowledge in an area that can offer value to your clients. Otherwise, why would they hire you if they know how to solve their problems?

There are many kinds of consultancy services you can offer. For instance, if you have a lot of knowledge and experience about computers, you can be an IT consultant. If you specialize in accountancy or taxes, you can be a financial or tax expert.

Assess your strengths so that you know which areas you can be of service. Take a look at your weaknesses and missing skills too so that you can work on filling those gaps. Depending on your expertise, you might also need certifications or licenses before you can provide consultancy services.

What Does Your Market Need?  

Consultancy is a service so you need to be ready to provide what your market needs in order to be successful and relevant.

Start by identifying a niche and think what kinds of questions and pain points businesses in your area of expertise have. The best way to find out is to ask. Start by finding online blogs in your niche. What are thought leaders writing about? What area has a lot of confusion? What debates are they having in the comments section?

Another source of information is your network. Chances are, there will be people who are willing to talk to you about your industry, what areas need to be improved or the current trends.

Get Ready To Go Online

If you already have a consultancy business and want to go online or if you’re found a niche and is ready for the internet, the next step is to get ready to go online. Before doing so, you need to arm yourself with the right tools in order to make the job easier.

Some of the most basic tools include:

• Video calling software for direct communication with clients.
• Messaging and email service for communication.
• Calendar for scheduling appointments.
• Online payment system for receiving payments.

It is better to find an all-in-one system in order to consolidate and simplify your business.

As a consultant it is important that you have an easy way of communicating with clients. Video calls are a good option because it takes the place of a face-to-face conversation. It also makes the whole experience more personal and professional. In times of social distancing and stay-at-home orders, video calls are the next best thing.

Emails and messaging services are important too. This is a good platform for exchanging and sharing files and communicating when video calls are not possible.

You need to be on top of appointments too so having a calendar for better scheduling and to remind you of appointments is important. The calendar should also allow clients to confirm and cancel their appointments automatically.

Lastly, you need a streamlined online payment system. This can be tricky because not many clients want to pay upfront. A good compromise is to have a payment in escrow. The money is then transferred when the consultation is over.

Set Up Your Website

Now that you have the necessary tools in place, you can begin setting up your website. If you’re a total newbie to website creation, you can follow the steps here so that you can get your business online.

Basically all you need are 3 things:

• A domain name.
• Website hosting.
• A website platform like WordPress.

WordPress is a good platform for newbies because it is easy to set-up, free to use and has a robust community for support. WordPress is also the preferred platform of over 30% of websites online so you’re in good company. Constant Contact website builder, Weebly and Shopify are good options too.

Promote Your Website

Your website can’t generate revenue unless you promote it. Once you’re online you need traffic in order to generate leads and sales. Therefore promoting your website in order to let people know that you exist is important.

Some of the best practices for website promotion include:

• Good SEO practices including local SEO
• Blogging
• Promoting on Social Media
• Pay-per-click advertising
• Use landing pages
• Online directory listing
• Email marketing

Always remember that people need to know about you in order to avail of your services. Advertising and promotion can cost money but it is essential in order to make money. You can always start small with word-of-mouth advertising but the beauty of being an online consultancy service is that people around the world can hear about you and contact you. This gives you a wider reach compared to brick-and-mortar consultancy services.

Bottom Line

The Covid-19 Pandemic is keeping us apart from each other, but it does not necessarily mean that we’re alone. Being online means being connected not only with family and friends, but also with clients and customers.

Transitioning from physical and digital is not hard. Learning how to do it with research will pay off in terms of being more accessible to clients even when we can’t do business normally in times of social distancing and work from home orders.

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How Businesses Are Changing Due To The Covid-19 Pandemic

In just a few short months, the Corona Virus Disease (Covid-19) has changed the way we do business. In many countries like Australia where lockdowns have been imposed for weeks, shops, restaurants and other services have closed their doors to customers and clients.

The Covid-19 outbreak has delivered a blow to businesses worldwide but business closures do not mean that these businesses are dead. Many corporations and businesses are asking employees to work from home and employ a skeleton force in order to minimize contact between employees. Grocery stores, pharmacies and restaurants are also closing their doors to dining customers and clients and turning to delivery to satisfy demand.

While many businesses are adapting to these big changes to the way they do commerce, the big test comes in the next couple of weeks with countries like the Philippines, United States, United Kingdom, Australia and many others extending lockdown to keep citizens indoors longer in a bid to stop the spread of the virus.

So how are businesses adapting to the changes brought about by the Covid-19 pandemic?

Teleconferencing

Governments around the world are implementing social distancing as well as work from home orders to individuals and companies. This has led to a demand in teleconferencing software like Zoom and others.

Aside from meetings, teleconferencing is also the favorite go-to platform for other services and businesses. Online yoga classes, collaboration, webinars, demonstrations, press conferences and learning are now taking advantage of streaming platforms.

There are also reports of streaming being used for weddings, funerals, bar mitzvahs and other events. In the absence of physical presence, many people and employees are turning to video conferencing in order to get the job done and feel a sense of community.

Delivery Services

Many delivery services are experiencing a boom thanks to stay at home and work from home orders. With many businesses around the globe ordered shut to prevent people from congregating together, restaurants and shops are closed. The good news is that many of them are focusing on deliveries in order to make money and serve their customers.

Food delivery is a good space for restaurants right now. While many families are cooking food, it can be tiring to cook all the time. Many individuals also feel that cooking for 1 is too much of a chore so ordering food and getting it delivered.

Aside from restaurants, many services are focusing on home deliveries too. In many parts of the world, pharmacies, grocery stores, bakeries, retail and other services offer deliveries. Having goods delivered is a good way to follow stay-at-home orders and avoid crowds to follow social distancing rules.

Cashless Society

According to studies, paper money is even dirtier than the average toilet. Money is hospitable environment for germs, microbes and even viruses. These infectious organisms can last on paper money surfaces for more than 48 hours. In these uncertain times, cashless payments are a godsend.

While cashless payment is nothing new in many countries, many are embracing it nowadays thanks to the pandemic. Implementing cashless payments mean that both delivery service and recipient have minimal physical contact.

Cashless payment can be made through credit card, debit card, e-wallets, mobile wallets, UPI apps and gift cards. As Covid-19 infections rise so will the use of cashless options in order to limit contact between seller and buyer.

Wrap Up

Businesses especially small ones are hit hard by this current pandemic. With no relief in sight and lockdowns being extended, finding ways to survive and thrive are critical.

Taking advantage of this situation, observing how other businesses are coping and being innovative can keep businesses ahead of the competition. While it will be harder for small businesses, it is not impossible to weather this storm.

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Reasons To Market During Recession

As we know by now, the Corona Virus Pandemic (Covid-19) is disrupting businesses around the world. What started as an outbreak of a new disease in Wuhan China is now a global pandemic with thousands of people infected and many governments imposing lockdowns and shelter-in-place orders in a bid to flatten the curve.

Because of this, many businesses are closed, many workers out of jobs and employees are asked to work from home. This has caused a global economic recession due to a large drop in spending. The good news is that many businesses are focusing on online marketing and selling in order to survive this ordeal.

This recession can give your business a leg up. It takes a lot of effort to make money during an economic boom but it takes a lot of business savvy to achieve the same results during an economic slump. The key to successful marketing during a recession is understanding how the consumer changed and having the foresight to look ahead.

Here are some reasons to market during a recession.

Decreased Competition Equals Affordable CPL

One of the ways businesses cope during recession is by lowering their expenses. This is usually done by reducing manpower or doing away with redundant marketing ideas. In the digital marketing world, this is good news because it means less competition especially when it comes to pay-per-click advertising.

Since businesses are slowing down, you can expect the bidding wars on search results to ease up a bit. This is because fewer businesses are investing in their SEO strategies so the cost of advertising space plummets.

You can say that recession is a good time for digital marketing because it results in a decreased cost per lead meaning that it is market share that is for sale at a discounted price.

Fewer Product Launches

During recession, businesses are more cautious of their spending. They want their money close and want to avoid unnecessary risk. Since they are picky on their investments, many of them will delay product launches because they don’t want to gamble launching a new product on a slow market. This is good news for you because it means less competition.

In times like this, it is better to strengthen your lead against competitors rather than rest on your laurels. Recession is a great time to increase your market share through advertising.

Consumers Change So Advertising Needs To Evolve

Many companies will be tempted to recycle their old content in order to save costs. Resist this urge because consumer behavior changes during a recession.

Take a look at the result of the current coronavirus pandemic. Many people are being ordered to stay at home and to practice social distancing. Many businesses like bars, restaurants and department stores are closed too in order to limit physical contact. Since many people are stuck at home, content needs to evolve in order to show empathy.

For example, many consumers will be shifting their buying power for essential supplies like food, disinfectants and home entertainment. This means that your content needs to evolve in such a way that it is useful during times of pandemic. Preparedness tips, health advice and coping with being cooped up are good examples of content that is relevant today. You can use this for email marketing, newsletters and blog content.

Always remember that people today are looking for reassurance as a way to manage the uncertainty of the impact of the disease. Bringing them factual content that is useful is a good way to reach out to potential customers.

Cutting Marketing Costs Can Have A Long-Term Effect

 

Businesses will always look for ways to cut cost during a pandemic and one of the expenses that always takes a hit is marketing. However, cutting off marketing can have a big impact on your business. Not spending on advertising can sabotage your business which can reduce your profit. This will result in the business trying to recover the loss when the economy improves. However, since profit is reduced, you will have even less money to spend during the recovery period.

It is easy to feel overwhelmed and pressured during a recession. The important thing to remember is that recessions are temporary. The world economy follows a cycle of recession and boom so things will naturally normalize in the future. Companies with good foresight can recover and see exponential returns when the economy starts to rebound.

Wrap Up

A good marketing strategy during a recession can help businesses cope with the economic slump. Performing well during a recession can make businesses recover quickly afterwards. Keep in mind that fluctuations can bring about opportunity and businesses should look at recessions as such.

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Best Practices For Small Businesses During A Pandemic

As the world grapples with the coronavirus pandemic, many businesses are shut and a third of mankind is in lockdown. By all accounts, this is going to be a long recession with lasting impacts for all of us.

This is a nervous time for small businesses and we’re still on the downward slope. Many businessmen will be forced to make hard decisions in order to survive. As you shift into survival mode, keep these practices in order to get through this tough time.

During the worldwide financial crisis during the late 2000’s, it took over 2 years for the economy to rebound. Expecting that this recent slump will be over soon is unrealistic. According the experts it’s going to be a slow recovery so corrections won’t happen overnight.

The secret to surviving this recession is cash flow. Here are some tips that can help improve your balance sheet.

Reduce Outflow of Cash

Basically this means, cut expenses.  You can do this by:

• Reducing monthly rent – you can ask your landlord to reduce monthly rent. You can ask them to lower rent in exchange for a longer lease. Remember that your landlord is a businessman too. He might be in favor of having you rent is space at a lower rent compared to having the space sit vacant for months. Don’t be afraid to ask and negotiate.
• Find cheaper utility rates – consider your normal utility providers like internet, cable, phone bill, electricity and water. For utilities like internet, cable and phone bill there look for cheaper alternatives. Call their competitors and see if they are offering cheaper services. If you tell them you are willing to change vendors, they might be willing to have you sign on at a cheaper rate. Once they know you are switching, call your current vendor and let them know. They might be willing to match the offer so that you won’t actually have to go through the trouble of switching.
• Cut discretionary spending – perks can nibble away your bottom line. Pandemics and recession calls for tightening the belt so don’t be afraid of doing so. Cut off discretionary spending like subscriptions, employee birthday cakes and entertainment. On the other hand, a well-stocked coffee machine and fridge are morale boosters and are affordable so keep them around.
• Lease rather than buy – need a new furniture, computer or laptop? Explore leasing options rather than buying right away. You might end up paying more in the long run but during a recession it’s all about the cash flow. If your business runs out of cash in 6 months, having a computer that’s paid in full won’t matter anyway.
• Pay payables later – call vendors for better terms. Try to see if you can negotiate a 30-day term into a 45-day. Having cash on hand for an extra 15 days could be a big factor for your business’ survival.

Increase Cash Flow

This is basically the opposite of the above. Now that expenses are cut, increase more money by doing the following.

• Collect receivables – get more cash flowing in by enticing your customers to pay sooner. For example, offer them a 1 to 2% discount if they pay early. Make sure that you’re offering this discount only to your best customers. Stop giving all customers free credit because you’re not a credit card company.
• Keep customers – downsizing is normal during a recession and pandemic but don’t cut down your workforce so much you can’t service your customers anymore. Good service is a reminder to customers why they chose you over your competitors. This is a good time to remind customers that you have good service and the exceptional value you offer.
• Appreciate your best customers – many small businesses will see their businesses dry up as a result of slower spending. This can be catastrophic for small businesses and this is the reason why you should appreciate your best customers. Give them a call or send them a card thanking them for their continued patronage. Ask them to come to you first if they have needs or if they are thinking of changing vendors. Showing them your appreciation will tell them that you care about them and their needs.

Position Your Business For A Recession

A recession environment is very different from a normal one. Consumers spend differently so it’s up to you to adjust to their new behavior. Here are some ways you can adjust.

• Lower inventory costs – a lot of cash is tied on inventory. Now that consumer spending is lower, do you really need 100 units of every stock sitting on your shelf? Reducing the amount of inventory can free up cash. You can also liquidate your lowest performing products and free up more shelf space and cash.
• Revamp product line and marketing campaign – during a recession, customers will buy what they need as opposed to what they want. This is why you should reposition your product and align it to their needs in order to survive. The same is true with your advertising. Focus on relevant content that the customer can use instead of bubbly messages.
• Find ways to leapfrog competition –turn this pandemic into an opportunity to get ahead of the competition. Launch initiatives that can allow you to take a bigger piece of the market share so that you can put your business in a better position for recovery.

Boost Productivity  

Employees are usually the most expensive part of running a business. However, employees are also the source of your value. Slashing labor costs while boosting productivity is like walking a tightrope. But managing it will enable you to survive the recession.

• Cut once, cut deep and do it soonest – layoffs suck but it is important to ensure business survival. If you have to lay off employees, make sure to cut deep so that you won’t have to do it again in 6 months. Making shallow cuts will only distract the remaining employees because they know there will be more to come and they will be more scared to lose their jobs. Laying off employees sooner rather than later means you can afford bigger severance packages and will prevent remaining employees from worrying and let them get back on the job.
• Reduce hours first before reducing salary – if you ask workers to take a 10% cut and ask them to work the same working hours, they will resent you and reduce their productivity. Reducing hours is better because it retains productivity and lets you save the same amount of cash.
• Cut or eliminate your salary – you have to cut or eliminate your salary first before you cut your employees’. If they don’t see that you’re sacrificing more than they are it won’t matter if you saved 20% from their salary because their productivity will drop dramatically.
• Get everyone on the same page – don’t be afraid to open up to your employees. Let them know where you are in terms of how the business is doing. Cultivate a “we are on the same boat” atmosphere so that they can be part of the problem solving process.

Keeping your business afloat during the Covid-19 pandemic will be difficult but not impossible. Having a realistic goal and plans for the next 2 years will help you get through the survival process.

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Protecting Your Business During The Covid-19 Pandemic

The Covid-19 Pandemic which originated in China late last year is currently on a world tour. Because of this many governments around the world are asking businesses to shut their doors in a bid to help slow the spread of the disease. The impact of this pandemic for businesses is devastating since country-wide lockdowns have kept people inside their homes for quarantine purposes.

However, surviving the pandemic is possible for businesses. For countries like Australia, some of the strictest lockdown policies are being implemented with schools, pubs, restaurants and theatres shut down and people are being asked to practice social distancing. However, many essential businesses like those providing food, manufacturing, health services and other essentials kept open to supply the needs of people staying at home.

While China seems to be embarking a comeback by slowly easing quarantine restrictions in the hardest-hit region of Wuhan, the rest of the world is still coming to grips with the pandemic. Let’s take a look at some tips that can help protect businesses and help them rebound during the Covid-19 Pandemic.

Update Your Covid-19 Intelligence

While Covid-19 is a new disease, it is caused by the coronavirus which causes ailments like the common cold, cough, SARS and MERS. It is primarily spread from person to person through small droplets coming from their nose or mouths when an infected person coughs, sneezes or breathes. The droplets can land on surfaces which transfer to another person when they touch the contaminated surfaces and then touch their face, nose or eyes.

The problem here is that Covid-19 is a new disease. While we know the basic information regarding the disease, there are still many unknowns which in turn fuels fake news on the internet. Since it is a new disease, it needs a new strategy in terms of control, mitigation and treatment.

Knowing the correct facts regarding the virus as well as following only verified and reliable sources of information can help your business survive because the right information will help you prepare properly. As new developments arise in terms of new epicentres for the disease, strategies and potential cures, updating knowledge will make it easier for businesses to reframe their strategies.

Communicate Regularly

Now that you have correct and reliable information, it is important that other people in the organization also have access to this kind of information. Fake news, as well as Armageddon-like scenarios, are currently trendy on the internet causing many people to panic and hoard toilet rolls and essential supplies. It is therefore upper management’s responsibility to educate their employees of the right information so that they are armed with facts and can prepare themselves and their families properly.

Having the right information can also improve the mood inside the office. If your employees have the right info, they can prepare properly at home and have safety measures installed in the office they have peace of mind and can go about daily tasks confidently. This way their productivity is not affected.

Be Flexible

According to reports, over a third of humanity is in quarantine due to the disease. In countries like India, more than 1.3 billion people are being asked to stay at home. In the United States, over 80,000 people are infected and more than 1,000 have died. Many other countries like Australia, Germany, Italy and Spain are under lockdown in a bid to flatten the curve.

Now that many people are asked to stay at home, businesses have to become flexible when it comes to staffing the workplace. Work-from-home programs should be implemented whenever possible. Some companies should also explore deploying skeleton forces where only the essential employees show up at work or moving to a shifting schedule to reduce the number of people in the workplace. Being flexible means fewer people are exposed to the virus and more employees are kept safe.

Manage & Mitigate Risks

Pandemics are uncertain times for businesses. This means business leaders or upper management should continue to assess risks and consult with legal counsel regarding their operations.

For example, when implementing quarantine for returning employees who came from infected countries should be within WHO, CDC and other official guidelines. In other words, resist the temptation to make decisions or policies based on rumours or fake news.

General guidelines for management policy should include the following basic principles:

• Use only official sources for Covid-19 health guidelines when creating your own.
• Avoid determining risk based on race or country of origin when observing an employee’s health condition.
• Maintain confidentiality of staff with confirmed Covid-19 and address it as you normally do when it comes to employee issues.

Make Sure That Customers Are Safe Too

 

Customers are the lifeblood of businesses. Without customers, businesses would cease to exist, which is why businessmen need to take care of them too.

In this relation, you can always remind customers to practice basic Covid-19 prevention by posting signs to wash their hands regularly. You can also put up some hand sanitizer dispensers on your countertops or entrance and encourage them to use them often.

Studies show that asymptomatic patients can still infect other people even though they don’t show symptoms themselves.  If masks are available in your country, ask employees to wear them when dealing with clients and customers. Not only will it protect them from the virus, but it will also prevent customers from coming in contact with a potentially positive case.

Prepare Your Supply Chain

Stocks are probably the first to suffer during a worldwide pandemic especially since China is the world’s factory. This is why mitigating the impact on your supply should also be at the forefront of your to-do list to protect your business.

With airlines around the world paring down flights and countries shutting down airports, it can be challenging to maintain a healthy supply of your stocks. To meet this challenge you need to map your upstream suppliers back. Get to know them and develop a relationship with them especially if they are the source of your key resources.

Prepare to repurpose too. For example, hospitals around the world are in short supply of personal protective equipment or PPE which can protect them from Covid-19 infection. In response to this, many designers are repurposing their production line to make PPE for hospital staff and first responders. Businesses should learn how to be fluid and prepare themselves on how they can repurpose existing supplies and materials so that business can go on as usual.

Wrap-up

Covid-19 remains to be unpredictable and is keeping governments and businesses on their toes. In times like this, getting reliable information, staying informed and effective communication can help businesses craft a strategy that can tide them up during this upheaval.

This pandemic will continue to challenge businesses for many months to come. However, proper policies and best business practices are the best weapons businesses have to weather these tough times.

We are here to help in these difficult times to enhance your digital systems and help you adapt to remote work and digital delivery of goods and services.

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Pulling Through An Economic Downturn

The whole world is bracing for a massive economic slump as a result of the Covid-19 Pandemic. Nations around the world are preparing not only for contracted growth of their economy but for a coming recession too. Big and small businesses alike are already suffering from closures, slow sales and outright work stoppages. It has been a strange 2020 so far with no relief in sight.

Throughout the history of the world, countries and economies have gone through periods of growth and recession. For example, the United States went through the Great Depression during the early part of the 20^th century and the entire world benefited from the dot com boom during the early 2000’s. Despite the rollercoaster events in history, there are businesses that not only survived but thrived during these tough times.

Luckily, there are lessons to be learned as the world grapples with the highly contagious Covid-19 Pandemic. Not only is it re-writing the way we do business, it is also giving us valuable insights that businesses should know about as the world goes through this most recent global recession.

Here are some ways you can pull through during this economic downturn.

Act Now

It is important for businesses to act swiftly during economic downturn or pandemics. According to scientific models, the Covid-19 Pandemic could last 18 months and small businesses are the most susceptible during these times. The most important thing for businesses to remember no matter how big or small they are is to act immediately.

For example, there should be policy in place on how current stocks should be handled. Guidelines regarding employee safety should also be reviewed and put into action. With regards to inventory and ordering, contacting suppliers and following an adaptive inventory system can help replenish raw materials so your business can go on as usual.

The faster you act, the more resilient your business can be. It is also good to remember to be flexible during times like this because Darwin said that only the most adaptive are likely to survive times of crisis.

How Much Money Do You Have?

Money is the lifeblood of businesses. Knowing how much money you have will allow you to important decisions. If you know how much money you have, you will know how much you need to cut, sell or how much more you need in order to survive.

Aside from this, you also need money in order to buy raw materials or stock. It is also needed for your worker’s salaries. Basically, money is an essential survival tool for businesses and knowing how much you have will make it easier for you to make informed decisions.

Communicate With Customers

In today’s digital age, it is now easier to talk to customers thanks to social media. In fact, many people expect businesses to have at least 1 social media account. Social media is not just for promoting your business, it can also be a tool to communicate with customers.

Take time to communicate with customers regularly and not just for promoting your business. Customers are your primary source of revenue so it is important to understand their needs during this time. Their feedback can become a tool on how you can invest or innovate better. Giving value to your customers’ needs and wants will give you valuable insight and help you run your business better.

Use Existing Assets

With low sales, money can be tight during times of pandemic so it is natural to cut cost. One of the ways of doing so is by repurposing old content and managing assets you already have. For example, you can re-share most popular blog content. Not only will this save money and time in the creation of a new blog, it can be seen by new audience without having to spend another dollar.

You can also look into boosting your email marketing. Not only is this a cheap marketing strategy, this will allow you to reach customers who are already used to receiving content from you.

Invest In Your Brand

Customers are on a tight budget too so they might not be spending as much as they used to. However, this does not mean to say that they no longer want to hear from you.

Take this time to invest in your brand. Continue to engage customers especially on social media. Communicate with them regularly, ask them how they’re doing and tell them what you’re doing too. Customers want to feel that they are important and engaging them regularly will make them feel valued.

Wrap Up

It may take some time before the whole world can finally be Covid-19 free and recover fully. The impact of this pandemic is far reaching and still unknown. However, businesses need to know what to do during uncharted times like this so that they can survive and thrive.

Since many businesses are forced to close their doors in response to social distancing measures by many governments, perhaps focusing on online selling can help you build connections with customers and tide you over until this crisis ends.  

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