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Businesses have gone on to transform seemingly overnight, and we’re currently in transition to the new normal of things as we hope and wait for a vaccine for COVID-19.
Stores and businesses will conduct their operations differently and customers will have to adapt to it whether they like it or not.
But you can reduce the uncertainty by making some proactive steps today as well as when the pandemic is finally resolved. Some of these steps are so simple that you don’t even know you’ve been doing them even before the lockdowns started.
We will look at the ones that are most practical and can be done by almost any type of business.
By position, we mean who will you become after the pandemic. This doesn’t mean a complete rebuild of your identity. Rather, it is how you will communicate with your audience in alignment with your current brand identity.
For you to have a good idea of how to implement this repositioning, you have to do some research and find out where your brand fits in the whole picture. It may be time for value marketing, where you put your customer first and all the aspects of your business serve your customer needs.
This seems easy as you read it, but it will take a lot of internal talking and brainstorming to get to the core of it. It wouldn’t be a surprise if you might address some elephant in the room while you’re at it.
What is important is that you press on and find a sweet spot where you can still operate at the highest level.
For you to have a good idea of how to implement this repositioning, you have to do some research and find out where your brand fits in the whole picture. It may be time for value marketing, where you put your customer first and all the aspects of your business serve your customer needs.
As you solidify your foundation through repositioning your brand, no matter how small or big the changes, you still need to plan out the actions you will take.
The good thing about this tip is that you can easily do this because you may have had experience with this when you launched your business.
You can look back to how you did it in the first place and then adapt it toward the new position you’re taking.
When you are implementing these changes, it will not be as effective if your whole team is not on board.
This is also a good time to make rounds and see how everyone is doing both physically and mentally about dealing with the pandemic. This is so that you can see if you also need to do a lot of changes internally.
They may even have some ideas on how to conduct your operations safely in the new normal.
If everyone is on board the changes and has the same mindset, it will not be all too difficult to transition your business after the CoronaVirus pandemic.
Even if they were put to a halt, you don’t need to stop them entirely. You can transform them and convert them into better projects as well. Make the necessary adjustments and make-do of the situation.
Tweak them in a way so that they can seamlessly blend into what you are trying to accomplish with your repositioning. Take the time to find out how you can further benefit from the hype it created before the lockdowns.
Who knows, it may very well be the precursor to all that you will do in the future. There should be no waste in your branding efforts.
While this may not be the most popular tip, it will save you a lot of headaches which may leave you with heartaches. You have to balance the business side as well.
Find the areas which are just embellishments and are not necessary for your product or service and operations.
Redistribute the finances to where it is most needed. These are decisions that you don’t make overnight. So take the time and consideration to make the best choices for your business.
Aside from cutting costs, check other things that you can adjust on so that you can operate your business at the bare minimum. A lean business will be able to thrive better even if another lockdown may be implemented because it can create its opportunities and operate without much fluff.
Depending where you are in the world, you may be in the position to secure a loan or business aid from your local government, or ministry of commerce. Check to see how you can take advantage of these programs, as they may help you leverage your business with the financial boost you need – either to pay for your employees, or sustain marketing campaigns.
Sounds intimidating? Actually, we’re already headed to the process of digitization and digital transformation WAY before the pandemic hit. It’s just that the coronavirus fast tracked our way towards digital transformation seemingly overnight.
You can open an online store, create an app, use productivity software, or create other online solutions through low code application development platforms.
If anything, the pandemic can facilitate your digital transformation projects, and you’ll come out with an even bigger customer base than you had before.
Business may have slowed down, but online consumer spending is in a tremendous high.
According to the eCommerce data collected by Common Thread Co., there has been a revenue jump of 173% versus 2019 when talking about eCommerce sales. That’s more than double the profit, and it’s high time that your brand considers an eCommerce approach if it hasn’t yet.
(https://commonthreadco.com/blogs/coachs-corner/coronavirus-ecommerce#coronavirus-ecommerce-data)
We’re gonna take some advice from research and intelligent firm Gartner here, one of the leading advisory companies in the world.
In one of their articles about business recovery due from COVID-19, they stated that a business should look at their response in three phases – respond, recover, and renew.
Responding means keeping your essential business functions operational. Recovering entails a longer duration where you employ techniques such as the ones mentioned above to stabilize your operations. While renewing is creating a newer foundation for your business in order to move further.
You can read more into this here (https://www.gartner.com/smarterwithgartner/reset-your-business-strategy-in-covid-19-recovery/)
These are several things you can do for your business to thrive in the new normal. The bottom line is that you see to it that you can make your business serve your clients well without making many compromises on your end.
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