Has COVID-19 Drastically Affected Your Revenue?
Everyone’s affected by the COVID-19 pandemic, but we know that many small businesses are feeling particularly vulnerable right now.
Whether you're a brick-and-mortar retailer that’s temporarily closed your doors or an online business that’s experiencing a spike you weren’t anticipating, I'm here to help you identify the best next step for your business.
Here are my recommendations for guiding your business through these unforeseen circumstances (swipe left to view). If this resource has been helpful to you remember to like, share, and save.
It's all about branding.
Whether you currently have a website or need to set one up, you’ll soon realize that digital is a very visual medium. Online branding is important because you want to make a good first impression. Research suggests good online branding builds trust, boosts credibility, and increases marketing effectiveness.
Here are some quick tips for better branding:
Invest in a great logo that reflects your brand values and mission.
Choose a colour palette for your website.
Keep your branding consistent across all platforms — website, blog, social media, etc.
Use your brand logo and colours on all “offline” marketing materials — business cards, flyers, catalogs, etc.
Hire a branding expert for more explosive results.
Did you know… Keeping your brand consistent across all platforms increases revenue by as much as 23 percent?
Optimize your downtime.
If you’re stuck in a sales slump because of the pandemic, don’t worry. This will blow over, and things will get better. But there’s no time for procrastinating. Use your downtime wisely, and you’ll experience a major boost in business when life gets back to normal. In the meantime, stay at home and be productive.
Here are some things you can do to keep busy:
Optimize your website for search engines like Google (search engine optimization/SEO).
Set up e-commerce solutions that serve your business.
Make your website more visually appealing with images, videos, headers, menus, and more.
Learn a new skill, take online courses that will benefit your business.
Not sure where to start? Invest in your results. Click the link in the bio for a consultation.
There are a variety of ways businesses can respond to the current COVID-19 pandemic, but my suggestion is to be resourceful. For your business, this means being cognizant and considerate of the real impact on your customers. Reach out to your audience (by creating a survey, for example) to find out what they need—and what you can do to help.
If people can't come to your business in-person, think about creative ways you can bring your business to them. For example, if you’re a restaurant or coffee shop owner who’s not able to serve customers right now, maybe you can create a series of online classes to teach people how to prepare some of their favorite dishes or drinks at home. Or, if you operate a gym or work out studio, perhaps you can offer live streamed sessions that members can attend online.
Be innovative. Think of a new product or service to
offer online and restructuring your pricing model or simply offering discounts
are two common business model changes that you can focus on immediately.
The extent to which retailers and providers can move online all depends on the scope of their business. Store owners will find it easier than plumbers, for example, but most business owners will still benefit from migrating to a digital environment until the pandemic passes. If you already have an online presence, you should ramp up your digital efforts right now.
Here are some of the reasons why:
Your store is closed but you still want to sell products.
You want to engage with customers who are stuck at home.
You want to continue to generate revenue.
You want to see a boost in business when the pandemic is over.
Here are some actions your small businesses can take to increase revenue while social distancing:
Offering Virtual consultations or classes
Subscriptions or memberships for access to online materials
The chart bellow shows the impact going digital can have on your business revenue.
Content is key.
Right now, there are more people at home than at any other time in history — and most of them are using the internet. Online traffic has increased by as much as 60 percent in some areas as many business close their doors. What this means for you: more people to engage with. Even if business has slowed down, content marketing is a shrewd investment. Blog posts, email newsletters, social media posts, you name it — you can still connect with your audience during the pandemic.
Here are some content marketing ideas:
Keep customers informed about any store closures, delayed shipping times, and the steps you are taking to keep them safe.
Remind customers they can still order products from your online store and have them delivered to their homes.
Advertise promotions and discounts to encourage sales and improve cash flow at this time.
Keep it local: Explain how you are helping with the local response to the virus or highlight community heroes. Local marketing is great for SEO, and an expert can help you get it just right.
Manage your online reputation & stay connected.
Use this time to manage your reputation online and stay connected with your customers, followers/ audiences online. No matter what type of business you’ve got—whether you run a hair salon, a clothing store, or a dance instructor at your local gym—there are plenty of people out there who want to hear from you. If you implement these steps now, your reputation might improve significantly by the time things get back to normal.
Here are some ways you can manage your reputation online and stay connected:
Consider adding a signup form to your site and sending regular email updates to keep the conversation going with your customers and fans.
Reply to negative reviews on platforms like Facebook, Google Business, and Yelp.
Ask loyal customers to leave you online feedback to counteract any negative feedback.
Create more content so it pushes negative content further down search engine results pages.
Why is managing your reputation online important? Eighty-eight percent of consumers trust online reviews as much as friends and family.
Keep a positive attitude & look forward not back.
This is a difficult time for everyone, but it’s important to stay positive. No amount of quick decision-making and business model pivots would even be possible if not paired with a positive, forward-looking and optimistic attitude.
Investing in your branding, improving your reputation, and working on your marketing is a long-term investment that will benefit you long after the pandemic ends. Put in the hard work now and you could prosper for years to come.
When it comes to your business, the most important thing is your customers, and you need to build relationships now. Customer retention is much cheaper than acquisition, and 65 percent of a company’s business comes from existing customers. Regular communication during this time will strengthen the bond between you.
I'm here to help.
Learn something new? Don't forget to like, share and comment bellow this post. I would love to here any recommendations you may have for business owners navigating through the Covid-19 pandemic.