The world is reeling over the Covid-19 effect (the virus has not still left us). Every country today is facing the lockdown and economy loss. So the major concern is how to grow business post-COVID-19. Some countries are slowly coming back to the track, but the uncertainty remains high, as there is a possibility of the second wave of this disease. Presently, the global count of Coronavirus is around 10 million, with the death toll of around 5lac; it is the most dangerous situation we are living in. However, for business, it is important to bounce back, but at a slow pace. Due to lockdown imposed in several countries, there has been a job loss and other effects.
According to the analysis by the UN Department of Economic and Social Affairs (DESA), the COVID -19 pandemic has disrupted the global supply chains and international trade. Since more than 100 countries have closed their borders, businesses have been widely affected. The global economy fell up to 1 percent in 2020. The contraction may increase by the end of the year if there are no economic activities. In this situation, one of the major concerns of entrepreneurs is how to grow business post-COVID-19.
Impact on Business:
As we have seen, Covid-19 has affected businesses in a significant way. Right from FMCG to healthcare and others, every sector is facing a considerable blow. Nobody knows how long this pandemic is going to stay. For a business, post- Covid-19, it will at least take 8-10 months to get back stable.
However, one thing is sure, post-pandemic; there will be a massive change in the process of business. The approach towards customers and clients vice-versa will be completely different. Companies will have to implement new marketing strategies, interaction with buyers and sellers, and other implications to grow business post-COVID-19. In other words, we can say that there will be a new face global business.
Table of Contents :
- Take Virtual Route
- Highlighting your Brand Strengths
- Connect with Old and New Client
- Professionals are the Key
- Readjusting Product Offering
- Engage in Philanthropic Activities
- The Use of Digital Marketing
- Following Business Norms
- Website Reconstruction
- Stay Relevant
Let us now check ten tips to grow business post-COVID-19:
1. Take Virtual Route:
Since the world is currently under the lockdown, entrepreneurs are using the virtual world to go online to keep the business stabilized. Remote working is the new mantra for business, thanks to the virtual connecting tools, including Zoom. Many companies have adopted virtual working policies helping employers to work from home and keep the business going. From meetings to providing presentation, everything is virtual. Utilizing email newsletters, videos, and social media to interact is the best to keep the business at the forefront. This way, clients will keep getting their business done on time.
Post Covid-19, more than half the business will completely adopt the virtual connectivity method to help employers to work freehand and be safe.
If you run an education business, then virtual tools are the most significant investment you can have. Educational institutes are making the best use of virtual connectivity apps like Zoom, where they teach students to complete their due academic courses. In short, taking the virtual route can be fruitful to grow business post-COVID-19.
2. Highlighting your Brand Strengths:
Every brand has its unique strength, which can be a selling point. For instance, Gold’s Gym majorly focuses on an individual’s fit and healthy lifestyle. People, when think of practicing good lifestyle or health, then Gold’s Gym is what comes to the mind. For a better economic purpose, brands can put forth their contribution to the financial landscape. So it becomes important to eradicate the concept of niche and use the target brand strength approach. For instance, if you are shoe manufacture, then you need to concentrate on your brand and unique characteristics of it. Presenting your brand with unique strength is the best way to grow business post-COVID-19.
3. Connect with Old and New Client:
We are at a point where many businesses are struggling hard to remain in the market and get back to normal operations. This is mainly because clients are not ready to invest in the market. So putting efforts into generating clients and bringing new leads will be a huge effort post-COVID-19 era. In such a situation, businesses need to work on connecting the old and new clients who have a stronghold on the market. If you want to make your clients know that you are still in the market, you can make use of marketing messages. This will also help new clients in showing interest in connecting with you. This way, your client will be extra loyal, and if you can get them through crises, they will keep doing business with you for long. You need to adjust to your strategy and goals to make it look realistic.
4. Professionals are the Key:
This Covid-19 has taught us that the workforce is the most powerful asset for any business. If taken care of well with on-time payout, these professionals will do their best to keep the business running. A brand that commemorates workers earns proper brand identity in the market, and clients look forward to working with such brands. If you are backed with the right professionals who are ready to work extra for your brand, then put them at the forefront. Let people know you value your workforce and will bring more business. This is certainly the most effective method or strategy to grow business post-COVID-19.
5. Readjusting Product Offering:
In the coming months, there will be a dramatic change and unexpected growth from customers’ requirements. Customers will be focusing on more essential products than non-essentials or luxury items. Therefore, as a brand, you need to work on offering critical products. For instance, if your brand deals with luxury furniture, you will need to shift your business to essential items, so customers keep coming to you, and your business keeps running.
However, this does not mean you need to stop manufacturing luxury furniture and diluting your brand identity.
6. Engage in Philanthropic Activities:
Since this pandemic has resulted in millions of job losses and an increase in depression cases, brands need to come ahead to indulge in philanthropic activities. Brand owners, once they earn a good reputation, need to work towards the society. Be it for the short-term or long-term; brands can take the work of helping the society. Brands can work on helping working professionals who are facing job loss or people suffering from depression due to lockdown. This will help in gaining trust among the customers and enhanced credibility in the end. Moreover, brands can also offer essential products at a discounted price period. This activity can bring massive turnaround and push to grow business post-COVID-19.
7. The Use of Digital Marketing:
Digital marketing or social media marketing is the most effective way to market or grow the business post-COVID-19 period. If you have already invested in it, you will know how far it can reach and positively affecting your business. During the Coronavirus period, digital marketing is still going. It is the right time to promote your brand further with safety topics and other ways. Leading digital marketing companies offer different services that can prove beneficial to grow business post-COVID-19
Another significant benefit of using digital marketing is it is cost-effective, and you can have complete control over how much do you want to invest. Since your business will be down, you cannot invest much in promotion or branding.
There are different channels or tools of digital marketing you can invest-
- Search Engine Optimization
- Google Ads
- Email Marketing
- Social Media Marketing
- Google Shopping Ads
Like these, there are many other options for digital marketing for better marketing results. You can even indulge in blogging. Open a blog by installing the right WordPress theme and keep blogging. You can check leading digital marketing blogs to get an idea of how you can stay in the market.
To make your website or blog more engaging, you need to invest in the right website builder that will add fuel to your marketing. If you are investing in SEO, then check some of the best keyword tools available that can help in creating content.
8. Following Business Norms:
It is sure that post-COVID-19; businesses will need to change their method of serving customers. If you want to grow and be into the eyes of customers, follow business norms like social distancing. For example, if you are running a store having a good inflow of customers, you need to make sure that your store is equipped with Coronavirus print materials having social distancing messages. Placing hand-sanitiser and other essential will make customers feel safe, and they would come back to your store.
9. Website Reconstruction:
Web design and development will also be a vital aspect to consider post-COVID. If your website is not at par as per the latest features, then you will not be staying ahead like others. Invest in effective and feature-rich website builders that will help in making your site visually appealing and get stability on promotional media. Connect with the right web development company that can do the work for you.
10. Stay Relevant:
You need to work on your business that not just stay useful during the pandemic, but also later. Prepare a blueprint of the long-term strategy that can work on all scenarios. Look for the emerging trends that will rise post-pandemic and work towards them. Sit with your team and start analyzing your strengths, diversify your field so that you can stay on the game.
There is no doubt that the upcoming business quarter will be challenging due to the devastating effect pandemic will put on the global economy.
Coronavirus pandemic has changed the face of global business, and there will be challenging days ahead. Effective use of business marketing tools, having human connections, and investing in digital solutions will be defiantly effective. Thanks to tools like website builders, keyword research tools, and other methods, your business will have a better future. Follow these tips to grow business post-COVID-19.