By This has been without question one of the hardest years in the world of business and small businesses in particular have been hit hard by the pandemic and the subsequent lockdown. So many small businesses have been forced to close down forever, but there are some of which that will survive this. For those small businesses which have been fortunate enough to get through the worst of what 2020 has thrown at them, things are going to look slightly different once things get back up and running again.
Business expert William West Seegmiller has been speaking at length recently about the changes which businesses will have to make, and here is what each small business owner should be planning for.
Table of Contents
Customer Focus
Now more than ever is the time to focus on our customers, those loyal consumers who have helped us to get through this year with their continued support, as well as new customers who will now have renewed focus on small businesses. The importance of loyal custom has been clearly shown this year and it is the reasons why so many companies have managed to make it through the difficulty of lockdown, it is vital therefore that those customers are repaid.
Risk Aversion
Whilst it does appear unlikely, there is still a chance of a second wave of the pandemic which has affected so many. For this reason it makes sense for businesses to be much more savvy with their financial outlook and any investments which they make. Those businesses which have been forced to close their doors have been those which were already exposed financially, and the lockdown came at the worst possible time. Even if there is no second wave, what this crisis has reminded us of is to lower the risk levels which small businesses are taking on.
Online Focus
Once things are back open again it will be done under a new normal, and the reality is that this pandemic will have repercussions which last for years. This is why it is key that all businesses big and small shift a major amount of their focus to online. This doesn’t just mean selling of course, it is about ensuring that you have a great presence online in order to attract more customers. An active social media page for example, or a top performing website, this is what you need to focus on in order to continue bringing customers in.
Marketing
If you weren’t investing in marketing beforehand then you certainly need to pump some money into that area of the business now. Many businesses have been forced to close since the pandemic and that means that there is market share to eat up. Use your marketing campaigns to inspire instant purchases rather than brand building and you will be likely to see some great results and a solid return on your investments.
Things will be different after all of this is done, reposition yourself now so that you are ready and waiting for the new normal.
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