The entire world has become the victim of another pandemic- COVID-19. It has led to a very stressful situation. The pandemic is hugely impacting businesses across the country, and livelihoods of all associated are in great jeopardy.
Approximately 62% of business owners who took part in an online survey stated that their businesses have full chances of shutting down even after everything is in place.
Already, 73% of respondents have witnessed drops in revenue, while 50% of businesses have been closed temporarily.
If you are looking to safeguard your business from the coronavirus pandemic, then here are some tips that can help businesses in staying ahead of the down economy:
Placing an Automatic Lead System
Businesses that do not have automatic lead procedures in place should make it a point to get going with this. Automation is important in these present times because in case the economy goes down, businesses will have to sell twice what they were selling earlier.
Automation helps in emulating the business and the team. Automatic lead generation systems will help businesses in receiving new leads even during such unforeseen times.
Using different systems to rely less on Manual Labour
It is relatively easier to manage systems than to manage people during such pandemics. Going for different systems in place of manual labour can help businesses in managing everything in a better way. In these turbulent times, using systems that can easily be created and have a proper mobile user-interface can prove to be highly beneficial. You simply need to learn these systems and start using them for business benefit.
Customer Safeguards should be in place
Putting customers on agreements at present can prove to be highly advantageous for your business. Brainwashing your customers into entering contracts might be a little difficult considering the uncertainty all around, but you should try and do this.
You can have conversations with customers regarding their marketing strategies and budgets and how they have been affected by the coronavirus.
Businesses can even plan on sending out different surveys to their varied consumers for getting a clear understanding of the way they are handling this outbreak.
Copywriting can be the Saviour
At present, many individuals are online for the most part of the day during the lockdown. This is mainly to continue with their office work, check updates on the economy and virus. So, this is a good chance for businesses to make the best use of their marketing materials, advertisements, and copies on their sites. Strong copywriting can help businesses in attracting the kind of audiences they want.
Focusing on Unsecured Business Loans
Thinking about proactive measures and using them at an instant can also help businesses in fighting through these turbulent times. Unsecured business loans can help both large and small businesses in safeguarding their future.
Services should transform to Products
Productizing a business service can help corporations in making money even when the economy has gone down. Products will help a business in scaling and growing. So, businesses should ponder how they can productize their services. They can go to eBooks and SaaS products.
These tips will surely help businesses in fighting through tough times, and once it passes, your small business will be in a much better position to thrive.