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Covid-19: The Small Business – Survival Guide in Hard Times

SMALL-BUSINESS-SURVIVAL-GUIDE

Many businesses have ordered their employees, to work from home when possible. Tech giants including Amazon, Google, Facebook, and Twitter all announced last week, that most of their staff are mandated to work remotely due to the coronavirus.

But what happens to small/medium-sized businesses? It is certain that the world has flipped upside-down…

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At the minute, we are unable to foresee when this situation will pass. One thing that we are certain is that when eventually will recover. Right now we know that:

  • The coronavirus outbreak will affect all types of businesses — no organization will be immune to its impact.
  • Marketing Departments should take a leading role in supporting their organization’s response.
For those who are new to working from home, we have posted this very helpful articles, packed with tricks to staying productive. 

The main question, however, is…

How can your business survive the economic impact of a COVID-19 outbreak – of the social distancing required to prevent one?

We all know that we should have a plan for what to do in case of an emergency. And yet, we all seem to be taken off guard when an actual emergency arises.

Your answer to this question depends on how COVID-19 is impacting your business. For many, public uncertainty (and self-isolation) is significantly decreasing the demand for goods and services. This holds true for the travel, hospitality and leisure industries to name just a  few.

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For industries facing this situation there are some opportunities:

When demand is low, you most likely want to reduce your media spends. But this doesn’t mean that you should suspend all marketing during this time because let’s face it, every one of your competitors is likely doing the exact same thing. To be successful, you have to think outside of the box and constantly keep on enhancing.

Warren Buffet,  an American business magnate was quoted saying, “Be fearful when others are greedy and greedy when others are fearful”.  Put in different words, this is a great opportunity to pull away from the pack. Find ways to differentiate yourself. Do things differently, try out new things and stay afloat when others find it hard to survive within the industry.

The most important thing that you can do now is to invest in your website. Work on your site’s ability to convert traffic to visitors or customers. Strategically invest in content and SEO to capture search queries that are freeing up. And if you are a local business, turn to experts to help you improve your Google My Business (Maps) results and optimize every aspect of your site.

If you own a shop, maybe consider moving things online and enhancing your E-Commerce. Offering your audience an online shopping service will provide round-the-clock sales and an international audience for your business. Adjust your return policy to give customers more time in returning an item, and make sure to reassure them about the highest level of safety and hygiene when closing the sale.

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It is critical that you maintain at least this level of marketing investment throughout the Coronavirus pandemic.

Companies that respond to the current situation with transparency and compassion will be rewarded by audiences. Companies that on the other hand fail to rise to the occasion or are late to respond may create uncertainty or damage the confidence they have built.

For the first time in history, your competition is slowing down. Cutting expenses. Closing doors. AND doing absolutely nothing online to communicate with new consumers.

The Long-Term Matters… ALOT

Everyone has been thinking short-term over the last 12 months. However, we all plan to be in business for the long-term. Now is the time to make the switch.

Put some investments into helping your customers out in the long term. Or think about this.. how long does it take to complete SEO? Now is a great time to invest in long term tools you can deploy that will put you ahead while others are giving up.

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Support the community

Everyone has something valuable to give. Whether it’s a skill that you can share with others or things that can be donated…

As we are all aware, the elderly and vulnerable are most at risk, most likely self-isolating during this difficult time. So, how can you support your community and the people most affected? Are you able to donate anything to charities or foodbanks? Try coming up with the resources which would be helpful to others.

Our Managing Director –  James is giving out his time by offering help for small/medium-sized businesses. If you are struggling to keep your business afloat and running out of ideas on how to save it, get in touch with us and book your free skype consultation to discuss all things digital.

Due to the above circumstances, We are offering FREE 45 Minute Consultations for small to medium-sized businesses.  Please CLICK HERE to arrange.

 

 

 

 

 

 

 

 

 

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