COVID-19 not only became a global health crisis but it also dramatically impacted businesses in unprecedented ways. Sales and revenue dropped fast as a result of lockdowns and social distancing orders. Implementing a post-COVID-19 business recovery plan will be a challenging feat but CAN be done.
Several months into this catastrophe, many countries are boldly trying to get their economy back on track. Businesses are slowly opening their doors once again.
Post-COVID-19 Business Recovery Plan: Ways To Bounce Back
Modify Your Strategies According To Changes In Consumer Behaviour
Experts continue to discover new information about the virus. For now, what’s certain is that more people have a higher sensitivity to germs, and they’ll be wary of the risks of spreading infections. They will be more careful about having close contact with others.
These changes in consumer behaviour may require you to modify your existing business protocols or even your actual products and services.
For example, if your business is a hair salon, your employees may have to wear masks and gloves while working. You may have to be strict with “by appointment only” policy and not accept walk-ins to avoid overcrowding in waiting rooms.
Prepare For Increased Demand
To prevent further financial loss, many companies have decreased their production, cut back on trading hours and even had to let go of a few employees.
Once people are allowed to go out, go back to work and into shops, consumers will begin to spend again, purchasing products and services that they weren’t able to during lockdown. Slowly implement a plan on how to increase production and manpower to cater to the increase in demand.
For example, if you’re running a convenience store, implement longer trading hours or have more staff on duty to help out customers. Anticipate that people’s behaviour towards any virus, in general, has drastically changed. Stock your shelves with items that started becoming must-haves like alcohol, sanitizers, gloves, masks, etc.
Provide New Sales/Services Channel
During the shutdowns, some of the most affected businesses only had one sales channel. Examples include brick and mortar businesses where customers are required to go in-store or into an office. Now is the time to create an online store for your products or an online consulting practice for your services.
The restaurant industry, in particular, has embraced this idea. Even with empty dining rooms, they provided the option for delivery (using food delivery platforms or their own team), call-in and pick up, and drive-thru services. Having flexibility with sales/services channels allows your business to still earn a profit when another channel is not feasible.
For example, if you’re a yoga teacher and used to rent a studio for your classes, you could offer an online membership for live or recorded classes. You can even give bonuses such as a 30-minute live chat about anything yoga. Make a plan on how your students can pay you. Many free and paid video hosting platforms (e.g. Skype, Zoom, Meeting Sphere, Vimeo Live) provide this option.
Use Marketing Tools To Update Your Customers
Inform your customers of any changes in your business; your trading hours, products that are back in stock, promotions you’re running, new sales or services channels and modifications in your business processes. This is a crucial step in your business strategy plan post-COVID-19.
What To Do:
- Post content on your social media pages.
- Automate your messaging system so customers can get answers to your FAQs.
- Send out newsletters and text messages.
- Update your website.
- Run ads on Google and Facebook.
Consistency is key. Regularly posting and sending out marketing communications will keep you in your customers’ radar. Keeping them updated will make them more likely to buy from you and use your services when your doors are open again.
Do It Today: Implement A Post-COVID-19 Business Recovery Plan
Although this pandemic is still not over, it’s never too early to have a post-COVID-19 business recovery plan. As prior Government orders are being lifted and we transition to the “new normal”, be ready to provide your customers with the products and services they need. By doing so, you can start generating revenue for your business once again.
Do you need help with creating an effective marketing strategy that your organisation can implement over the next 90 days? Please book in for a free call today.