How do you turn times of crisis into an opportunity to improve your business?
If there is one thing that COVID-19 crisis has done, it is to push us to seek new work alternatives within a context that is difficult for many to confront.
In a normal life context, like the one we had a few months ago, some companies live in a state of conformity regarding the way they run their operations and sales strategies, probably because it is the model they have always managed and which has worked for many years. When a moment of extreme crisis arrives, like the one we are currently experiencing, the alarms go off. Uncertainty surfaces and companies must make timely decisions to avoid falling into a bankruptcy situation.
Boko has prepared some advice that will be of great help to your company to transcend and get out of the crisis caused by the COVID-19.
Keep in touch with your customers and build a close relationship with them and your brand
Through email, through your social networks and your website. Many companies are turning to live broadcasts to keep bringing content to their customers. In addition to conventional posts, live broadcasts can be a great way to share with your customers stories or tips related to your product. These days, when so much negative news are shared, it wouldn’t be a bad idea to create a space for your clients to enjoy themselves and help them forget about the crisis we are going through.
Reinvent your business, explore new services or products to offer
Your business moves within a sector, but that does not mean that you cannot reinvent yourself and bring out new products or services. Let creativity flourish, seize market trends and explore what other alternatives you can offer to your customers. Take advantage of technology and if you are good at teaching, you can offer, for example, virtual cooking courses, or English courses; choose a solution that suits your business and develop it.
Have a plan B
This does not mean that you should change your business, but you must have alternatives that allow you to reconfigure or adapt it. A contingency plan in these cases helps you to give a twist to the organizational structure of your business. In this context, it is important to take into account your relationship with customers, suppliers and employees, as well as your facilities and the technology you have to make all your operations.
Having a plan B also means having the power to decide on changing roles internally. This allows you to explore new alternatives, for example, contemplate the delivery service you had thought about, but you didn’t see the need to apply, or, to turn your business into a digital frame, to finally have your website and make it known on the digital environment. This type of decision pushes you to train your team in other skills for which they were probably not prepared, but that will be essential for the success of your business.
Take care of your customers
In these times of uncertainty, it is more than logical to find thousands of people who have made previous plans, purchased a product, perhaps a plane ticket or a vacation and it is inevitable to think that with the arrival of the COVID-19 all plans have been ruined and the investment has simply been lost.
Give them a tangible solution, maybe reschedule that trip or that party they had planned. It is important to keep in mind that we are all, to some extent, having a difficult time. Do your best for them and give them peace of mind.
If you have not yet made the decision to set up your website, this is the perfect time. A website opens up a world of possibilities in the marketplace. The success of companies today is focused on the use of digital tools. All advertising, sales, business, work mostly through a website. You can make the decision to transfer all your operations, or at least a large part, to a website and work comfortably from your home, without having to pay rental costs and services, or otherwise you can continue paying monthly rent, for a business that not many people know or visit. The crisis is forcing us to change our way of working, the solution is in your hands and you decide which way to go.
If you still don’t see the solution to getting your business afloat, these tips will help you start making decisions. If what you need is to turn your digital business, in Boko we help you to make it happen.