Survival strategies for businesses during COVID-19 lockdown

The restrictions that we’ve developed for handling the spread of the Covad-19 are still in place. Till then, businesses are coming up with new ways to boost their volume of business without putting all at risk. They are now dealing with a landscape that is constantly evolving. It is also a landscape that is marked with lockdown measures of varying degrees based on the number of cases each region experiences, along with the threats that a global economic recession is capable of. Businesses are now using bold, new strategies to reach their consumers. The marketing strategies for small businesses include a focus on certain essential steps. 

Retaining loyal consumers

The current customers that a brand still has are their saving grace. They are engaged with the product offerings and love what the brand has to offer them. Businesses are now utilizing this time to focus on strengthening that bond of engagement by reconnecting with their existing customer base. What they are looking for is the possibility of giving these consumers services and products that address their more pressing needs during lockdowns.

The aim behind such business strategies during COVID-19 lockdown was that the normal demand isn’t high enough to meet bottom lines; and in some cases, the demand is nonexistent owing to the quarantine time frame. To reach out to that existing customer base, brands are rebuilding and being innovative with their marketing communications, intending to inform them that the brand is still operational and will cover their needs.

Ramping up the service delivery channels

The biggest consumer behavior changes observed during the pandemic was the adoption of online shopping if only to avail of the delivery services that came with online purchases. So, this was the next part of the business that received special attention. Businesses began to use marketing strategies for small businesses to convey to buyers that they could offer home delivery.

Of course, before that marketers had to contemplate several questions: could e-commerce operations be increased by selling products viaphysical outlets? Should delivery agents deliver locally or leave purchase orders on the buyer’sdoorstep? It is possible to convert the business to aremote service using appropriate marketingstrategies for small business. For instance, if someone operates a gym, they could switch to delivering online classes in place of in-person sessions.  

Enhance customer service lines

Customer service helps builda competitive advantage and gives customers the bestbrand experience. During this time, the business strategies during COVID-19 lockdownentail reviewing the quality and number of customer-service touchpoints. The intention is to assess the process followed when addressing customers and see if improvements are required. One approach is to conduct spontaneous surveys on customer satisfaction to derive conclusions on changes to be made.

Streamlining all operations

Businesses are now following a certain pattern when it comes to their operating procedures. Presently, the business strategies during COVID-19 lockdowninvolve being lean and cutting down on costs in a smarter way. These two approaches could make all the difference between succeeding and failing during a recession.

One method of achieving this balance is to identify the areas of business that produce higher waste or low results and have them eliminated. For example, it could be IT equipment, machinery, or lighting that is always left on even when not in use. Such items can add to the overall operational costs. Businesses are now negotiating with suppliers for more affordable utility tariffs to save on money.

Reducing the number of ancillary services

Some small businesses maintain ancillary service and product lines that don’t impact the consumers or the profit margins in any way. These can be controlled via business strategies during COVID-19 lockdown, either pausing, stopping, or reducing them in some way. Most of the revenues available to the businesses are then redirected to the core or high revenue products that provide higher value to the buyers. The result is a better ability to expand and maintain a good market position and then planning out relevant marketing strategies for small businesses to reach those new market positions. 

Relying more on social media

New marketing strategies for small businesses involve taking a closer look at the promotional channels that are cost-effective. Companies are reviewing the social media sites that are perfect for their buyers. They are also leveraging them to push out content through these channels that are compelling, fresh, and adds value and relevancy to the audience.

It’s given smaller companies a platform on which they can experiment with using various promotional themes:product explainers,quizzes,news releases, topics, and competitions. The platform even serves as an engagement medium with potential buyers using comments, reviews, and queries.

Embracing flexibility

Taking a closer look at restructuring their business internally is another big move that many brands are taking on. Developing business strategies during COVID-19 lockdown for employees who work from home could help with further cost reduction and promote a better work-life balance. Such a move is already in practice with many of the bigger companies keeping a majority of their workforce in the work from home mode.

They claim that their productivity levels have increased and employees benefit from the flexibility that this working model offers them. The only investment that such a business strategy entails is one for better IT equipment and technology that is used for video interviews, online brainstorming, and online hiring. 

Increased business effectiveness assessment

Earlier, businesses were satisfied with an annual review of their mode of business, the strategies that were in place, and the product lines that they offered. Now, business operation reviews happen more frequently to assess the effectiveness of all the new business strategies during the COVID-19 lockdown they’ve introduced. The kinds of measures they’re using are either soft or hard utilizing benchmarking, comparators as a form of context, especially if strategic KPIs have been made for responding to the lockdowns. 

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