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How Are Small Businesses Surviving the Pandemic?

Times are tough and business consultants are frantically teamed-up with their clients to make the adjustments necessary to save failing businesses that are disintegrating due to the current pandemic restrictions. For those small businesses surviving the pandemic, their success is attributed to being flexible, adaptive, and acting quickly for sustainability.

But coming up with a plan to transition to this new economy is not a one-size-fits-all strategy as every business, every market, and the surrounding socio-political environment is unique, and therefore, the solutions are just as unique to each business.

Digital Marketing

Short of hiring a Certified Digital Marketing Specialist, there are many digital marketing opportunities that can be effective in maintaining connection and public relations active but this is an activity that, if not managed well, can run away with the potential profits which are sorely needed in these unprecedented times.

Certainly, there are many free digital marketing tools available to the pandemic-bound business and organization, but they take time for your digital staff to deploy. When your business is hanging in the balance, one wrong move in your digital marketing effort could do more harm than good.

Businesses need to embrace the digital connection methods but must closely monitor what is working and what is not and be able to make the necessary adjustments as quickly as possible.

It is About Them

When reaching out to your client base remember, they are more considered about “what’s in it for me.” They are turned into WIIFM, and if you are not speaking to them about them, they will be listening and responding to someone else who is talking to them.

You must be able to identify your target market and get to know them better than ever so that you can reach out via your digital marketing efforts to connect to them. If you know exactly who your market is, what they like, what they do, how do they make decisions, where they hang out, what they do for fun, you will have more ways to target your marketing to them and build relationships with them.

Stop making your message about you and make it about them. Use the word “you” as often as possible in all your digital marketing efforts. This makes them feel like you are talking to them, and make your message all about them, and yes, what you can do for them and how they will benefit from your product or service.

Selling Online

Transactions made over the Internet are different from transactions made face to face, in brick-and-mortar retail establishments, or within office spaces. You must be able to plug into the digital economy, enable clients to interact with you and/or your staff, to order and pay online quickly and easily.

Connect to your clients using technologies such as Skype or Zoom, and make sure your appearance and presentation represent how you want to be seen by your audience. Wear appropriate attire, have good lighting, audio, and a nice backdrop for your videoconferencing.

Selling online will also mean re-evaluating your delivery systems to deploy your products and services to reach your customers at home.

Increased Value

In the digital marketplace, you need to provide your clientele with as much value as possible. So, creating and supplying workbooks for virtual presentations, providing tools and guides that they can use and will make their lives better, these are things they are looking for. Plus, anything you can give them to download, view, or print, means more potential for connection, and building that invaluable relationship after the online exposure has taken place.

Lead with your most valuable information first. The rule of thumb is to

Tell them what

But don’t tell them how

Leave “the how” specifics for a more detailed and intimate conversation at a later date (and higher price point).

Do not worry about not making the sale immediately. Business is conducted differently online. Take your time building the relationship in the selling process and let them come to you in the instant they are ready to press your Buy Now button.

Conduct Webinars

Online webinars appear to be the most effective way to bridge the gap between your pre-pandemic and pandemic clientele. Live presentations in public are considered too dangerous during the pandemic, so conducting virtual events is the answer. And you will be pleasantly pleased to discover that virtual seminars are far less expensive than their live counterparts but must be conducted completely differently.

These online events will increase your exposure and increases your credibility and connection with new and existing clients. Remember to provide value and educate your audience via your webinars.

Communicate Communicate Communicate

You must regularly communicate with your target audience to maintain connection and relationship. Enroll them in drip campaigns, let them opt into your mailing list, and provide them with regular updates. Let them know what you are doing, and how you are doing.

Increase your connection, not only with your target market but also with others in your field who are also trying to survive the pandemic. Together we can weather the storm and make it to the other side.

We are all in this together.

Exercise empathy, compassion, and humility in your communications, but be careful not to overdo it. This applies to all communication with clients, potential clients, employees, business associates, and peers. You do not want your audience to unsubscribe, delete your messages, or even worse, mark your messages as spam.

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What are Businesses Doing to Thrive?

More than ever, independent businesses are struggling to continue to make a living amidst the pandemic lockdown as they are forced to find different ways to appeal to, interact with, and serve their clients and the world unimpeded by COVID restrictions.

Businesses are forced to learn how to communicate with clients in new ways as they are forced to stay home and stay safe, and employees are telecommuting and working from home, and jobs are shifting from in-house to online.

Unfortunately, if you thought the lockdown was temporary (remember, it was only going to be for a couple of weeks, then a couple of months, and now we are moving more toward a year), it turns out that the telecommuting business model is here to stay, so, if they are to have any hope of survival, must learn to adapt quickly, before suffering too much loss, leading to business failure, bankruptcy, never to return.

It is time to get creative and to take advantage of electronic forms of operating your businesses remotely and using all the tools which are being embraced by the survivors.

Businesses with less than 100 employees are at the highest risk and most likely not to survive attempted adaptations which would include new safety procedures, expanded revenue channels, alternative customer service methodologies, and delivery systems.

This leads to the growing majority of businesses to failure, yet others are surviving by evolving into the new normal of innovative operating businesses more remotely. How this will look following the pandemic, we have yet to see.

Millions of small businesses are fading to black, never to be seen again, due to being unable to persevere throughout the pandemic restrictions.

Of the survivors that have found ways to increase productivity and are enjoying even greater than pre-pandemic profits, what are they doing?

What are Businesses Doing to Thrive During the Pandemic?

Shifting to Online

Businesses are shifting from selling from showrooms to online marketplaces and live streaming sales. They are connecting to their customers via email and building relationships using every social media method possible.

Home Delivery

Delivering product or service directly to the homes of clients.

Empowering Staff

Empowering employees to expand their skillset and their value the organization by thinking outside the box and suggesting new solutions to problems as they arrive.

Evolving Business Models

Evolving the business model to adapt to new opportunities as they become available during the most challenging of times.

Remodeling

Remodeling retail, hospitality, and restaurant interiors to accommodate clientele and to prevent the spread of the coronavirus.

Embrace Technology

Embracing emerging technologies that increase communication, relationship value, and maximizing revenue streams.

Adaptive Interaction

It also means changing the way line staff interact with clientele, especially if face-to-face communication was an important component of your business model pre-pandemic and keeping staff and customers safe during the process.

Telecommuting, telenetworking, and telesales are the new standard.

While the coronavirus pandemic caught so many businesses off-guard, the majority of those that will be left standing post-pandemic will no doubt be unfazed by any future similar challenge.