Running a business and keeping things afloat in the midst of a global health crisis is perhaps one of the toughest challenges business owners will face in their lifetime.
Although the situation naturally inclines us to expect the worst for our businesses, it is in the middle of major crises that many entrepreneurs have found the biggest opportunities to grow their businesses.
Following that particular mindset, business consultant Jasdeep Singh shares in the following articles some expert tips to give your business’ sales a boost regardless of what’s going in the world.
Tip #1 – Increase your reliance on digital channels
Online businesses have seen their sales skyrocket during the pandemic, as shoppers have relied on the internet to buy most of the goods and services they need while they remain confined in their homes.
A recent survey from online CRM software company HubSpot found that almost 60% of shoppers used Google to search for a product or service before they made an online purchase.
Meanwhile, the vast number of users that are currently active in social media – exceeding the 2 billion according to the latest stats – makes digital channels a game-changer for businesses in a situation where people don’t really have an alternative rather than buying things online.
Make sure you devote most of your marketing budget to these channels, at least while the pandemic persists.
Tip #2 – Compensate your sales team as if they were war-time soldiers
Your sales team is on the front-line doing their best effort to make a living by selling your products and services and they should be compensated accordingly.
Big and successful companies such as Walmart have understood this reality and they have paid an unprecedented amount of extra bonuses for their associates, which is the name they give to representatives working at their stores.
Although no compensation is enough to justify risking your health while doing your job, the unique dynamic of the pandemic still demands that people perform their duties as usual.
Nevertheless, given the life-threatening circumstances in which they are doing so, companies can use extra bonuses and other forms of incentives to further motivate workers by acknowledging the complexity of the situation they are in.
Tip #3 – Meet clients where they are
Clients are literally sitting at home expecting that businesses pitch them something they can be interested in, especially if it is entertaining and promises to take some of their extra time off.
If that is where clients currently are, you should make sure your business is there too.
In this regard, business consultant Jasdeep Singh says that entrepreneurs should put themselves in their prospective customers’ shoes to find out where it would be easier to connect with them.
Whether that is through an ad on their favorite mobile game or via an e-mail that they check now more often than they used to, that’s where your business should pitch its promotions and offerings.
Tip #4 – Become a community-aware business
With people spending more time at home, they are also becoming increasingly aware of the issues that exist in the communities around them.
Business owners can use this to their advantage by promoting – or even funding – initiatives that seek to make an impact in the community where they are based, or where their customers are based.
By becoming a valuable member of the community that surrounds your business you will increase your brand’s awareness, which should end attracting more customers and traffic.
Tip #5 – Follow the trends
The coronavirus crisis has shifted consumer preferences and habits dramatically.
For example, a lot of people have become interested in the stock market since sports events – and bets – are shut. On the other hand, shoppers have also opted for buying comfortable clothing vs. high-fashion pieces as they don’t really have anywhere to wear the latter.
These are all shifts in traditional trends that your business can take advantage of. You have probably already spotted changes in the way your shoppers buy what you sell, or maybe they are buying something they weren’t in the past before the pandemic struck.
Identify those trends and ride them while they last as they will drive your sales up, at least until the virus situation is contained.
A final word
In situations like this, business owners should improve their “swimming” skills to navigate the turmoil, instead of laying their hands down waiting for it to pass.
By following some of these recommendations you can rethink your business to find a way to shift from survival mode to growth mode.