As COVID-19 changes business and the economy, there are ways to grow your business even during a pandemic.
With many businesses working remotely, operating with limited capacity or closing altogether, there seems to be little opportunity to grow your business. Despite these setbacks, there are ways to make the most of your current situation and continue to grow your business in the event of a COVID-19 pandemic.
Wherever you are, there are a few things you can do to maintain sales and keep your customers and employees engaged.
- Be strategic about your digital marketing
Many digital marketing channels, such as blogs, email newsletters and social media, are available for free or at low cost, but businesses that want to grow now need to be strategic about the time and resources they spend on marketing activities.
“Every dollar you invest in marketing has to be spent carefully and resourcefully,” says Mark Kohlenberg, who launched Milwaukee Boot Company this summer in the midst of the pandemic.” We can’t afford to be trial-and-error; we have to execute constantly. It’s very difficult to raise awareness of a new, non-essential brand in the midst of a pandemic. We have to work harder … to scale up quickly.
- Thinking from the customer’s point of view and interacting with them
Social media channels such as Facebook, Instagram, Twitter and LinkedIn have become even more important for brands that want to stay in touch with their customers in an age of remote working and shop closures.
Now, in order to make the most of social media, you need to identify your target customers and pay attention to what they say and do online. At a time when everyone is concerned about their health and finances, responding to your customers’ current needs and concerns and approaching them from their point of view can help you stand out from the competition.
“Look at your brand from the consumer’s perspective,” asked Kohlenberg.” Are you accessible? Does the market really need you? Regardless of the economic climate, there will always be opportunities to create unique and appealing products, but in this day and age you need to be careful and firm in your approach”.
- Developing your virtual sales skills
Most companies have moved their sales process into the virtual world, but just because you’re pitching on a zoom call doesn’t mean it’s unprofessional. Treat your virtual sales call like a face-to-face meeting, and prioritize first impressions. Dress professionally, optimize your backdrop and home office environment, and make sure your audio and video are clear to ensure seamless communication.
In virtual selling, it’s important to provide value up front. Be proactive in providing relevant and useful resources such as tools, guides and manuals. This will help you stay top of mind with your target audience, even if it doesn’t result in an immediate sale. This is a challenge that many start-ups are facing during the pandemic.
Regardless of the economic climate, there are always opportunities to create unique and attractive products, but these times call for a careful and precise approach.
- Organizing a virtual event to engage your audience
Organizing and hosting a virtual event that meets the needs of your target audience is a great way to provide value and reach people from the comfort of their own home. Of course, as these events are becoming more commonplace, you’ll need to be creative to make your webinar stand out from the rest.
Provide an interactive experience and, if you have the budget to do so, offer incentives such as giveaways or expert speakers to motivate people to attend. At the end of the event, make sure you have a clear call to action so that your audience is engaged with your brand and want to continue their relationship with you.
- Tell your network what you’re up to
Opportunities to grow your business often come from getting to know the right people. Especially in times of global pandemic, all entrepreneurs try to help each other survive.
That’s why Mr. Phillips recommends that you focus on networking now. As well as making new and valuable contacts, it’s important to keep your existing contacts informed of your current goals and progress.
“We’ve been keeping our supporters, stakeholders and angel investors up to date. What we have done, the milestones we have achieved and our successes. People, our ‘allies’ so to speak, want to know these things because they support us and believe in what we are trying to achieve”.
The key, says Phillips, is to keep the network updated, but not overflowing. But in doing so, be sure to share progress “tactfully and sympathetically, recognizing that this is a very difficult time for people around the world”.
- Prioritize genuine and transparent communication with customers and employees
Like you, your customers are probably feeling fearful and anxious about the pandemic. But they will remember the company that reached out and supported them during these difficult times, so think about your overall communication strategy with them, including what has changed in the wake of COVID-19 and what they can expect from your company.
Also, don’t forget to monitor your employees. Your team will need your leadership in a crisis situation and will want you to keep them updated on how the pandemic is affecting the company.
Use this time to build a stronger sense of solidarity among your team members. This will give your employees a better sense of their own value to the company, increasing their motivation and productivity, which in turn will lead to business growth.
