The COVID-19 outbreak is a serious global health crisis. It’s resulted in mandated school and business closures across North America and the rest of the globe. In a world where social distancing seems to be the new norm to slow down the spread of the disease, small businesses are carrying the burden of stressful and scary times.
The economic impact of the pandemic has left small businesses thinking about the impact on global supply chain and markets worldwide. Many will survive the tide, and many will drown. As a marketing agency, there’s not one solution we can provide to resolve the crisis. The best way we know to support small businesses is by providing you with creative ideas to make the most out of the current conditions:
Invest in building deeper, more meaningful relationships. This means it’s best to spend a little bit more time speaking to your customers to understand the changing demands of their business and their end consumer’s expectations. While you may be in a state of panic, so are your customers. Building trust, listening to their needs, working with them to find the best solution to keep them afloat is what you must do.
Take a moment to understand your customer demands and their changing business. Strategize clearly and with transparency. Have more touchpoints than usual with your consumers and rally your troops to support and guide them as best as you can.
Keep the momentum going while staying agile and flexible to the growing demands and changing needs of your end consumers. Things are changing on a daily basis at this stage and therefore it’s important to stay agile with your marketing campaigns and continue to create relevant content and be more active on social media.
Crisis can bring us strength and the ability to be creative. Perhaps this is the time to shift your focus and pivot and develop strategies to keep things going while staying futuristic and optimistic. If you are a brick and mortar business, is ecommerce the next step in your business model?
If you’ve been providing one to one services, this is a time to build a membership program. Or if you are in a business, but there is a gap to build an app or a web portal, should you take that leap to develop something unique in your industry and build a separate niche. As a small business, we can sometimes lose our passion in the minutia of daily operations. It’s time to reignite the passion, reinvent ourselves, and become more resilient and responsive to the demands of the market.
Sales and budgets continue to shrink while there’s uncertainty. Marketing seems like an expense and not necessity to some businesses in times like this. However, cutting down your marketing that you have spent a lot of time and resources in building a momentum for may not be the right solution.
Lastly, use the resources made available in your local communities by your federal and local government to help support local businesses.
As a small business, you have the ownership and responsibility to keep the economy fluid and hence do whatever you can in your power to keep yourself afloat and create enormous value for your customers and shareholders. Find a like-minded group of small business owners to brainstorm new ideas and reach out to your marketing agency to develop a plan that’s futuristic, optimistic, and growth centric.