How To Make Your Small Business Survive The Pandemic
With the COVID-19 pandemic continuing to take its toll on the world, small businesses are struggling to stay afloat. As little is known about the future of the economy post-pandemic, there are steps you can take to ensure your business adapts to the current reality. Here are some tips on how your small business can survive as you discover new ways to increase your revenue while keeping your employees, customers, and community safe.
1. Increase Your Online/Social Media Presence
Social media is a very good way for you to bring free value to potential clients. An analysis by Smart Insights shows more than half the world uses social media, with users now spending an average of 2 hours and 24 minutes per day, multi-networking across an average of eight social networks and messaging apps. you can continue building and maintaining client relationships via the online space, given the barriers that Covid restrictions have placed on physical meetups.
2. Build long lasting relationships
Go beyond just being creative on your social media platforms. Interact with followers. Follow back potential customers on social media to build online relationships. Liking posts and responding to comments will further build the relationship. Validating your followers by doing these simple steps can turn them into potential customers or clients. Use video conferencing tools such as Zoom to get face-to-face with your potential clients.
3. Review Your Contracts and Leases
Examine your current contracts and leases to avoid unnecessary expenses. For instance, if you made a purchase for supplies you are no longer able to use or had to cancel events, talk with the other party and review contracts to see what options you have for refunds. The contract may also specify which party is responsible for lost costs.
4. Optimise Business Spending And Review All Expenses
Reducing costs is the most impactful way to continue pursuing business goals during these uncertain times. Switch from print ads to digital ads to reduce your monthly marketing expenses, while also providing more targeted and precise reach to ideal buyers. Let your shopping vendors know that they are shopping around for better prices to provide them a better deal for your business.
5. Create a Safe Working Environment
Regardless of the capacity your business continues to operate and how many staff you had to lay off amidst the tumultuous economy, you should still ensure a safe working environment for your employees and customers. Reduce the number of in-house working staff by allowing some employees to work from home whenever possible. Maintaining a supply of cleaning products, gloves, and face masks. Disinfect your office space regularly. Train and educate employees on hygiene and sanitation practices in the workplace.
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