We are all aware of the current situation the entrepreneurs are facing in this pandemic. It is no doubt that everyone is having a hard time in continuing to operate their businesses.
Market Grid, being a marketing agency, has done several researches, surveys and attended few webinars related to digital marketing.
We understand that businesses may encounter low sales or worse, bankrupt. If you are one of the stable businesses during this very challenging situation, congratulations, you are doing great and more power to your business… If you are one of the business owners that are experiencing a difficult time you might want to finish reading this.
What to do if your business is at stake?
Take a breather. Pause and recollect.
A business owner should take a step back and reflect. Take a good look at your business’ financial status. Take your time in planning your comeback.
Make a list of your concerns, pros and cons, goal, and action.
Ask yourself, if you’d continue the business:
1. How many employees can I keep?
2. What services, products, or menu should I make temporarily unavailable?
3. Do we still have funds for advertising and promotions?
4. Where will we be in the next 3-6 months?
Reality check: let it sink in.
It’s time to accept the ‘new normal’ and find ways to solve the crisis you are in. Accept the reality that you need to adjust in the ‘new normal” life we are living.
Communication is the key.
Communicate with your staff as much as possible. Be transparent to them. Yes, they need hope, but don’t give them false hope. Assure them that they will be properly compensated for their hard work once the business becomes stable.
Communicating to your staff is very important especially during this trying time. You have to gain their trust because it acts as the foundation for your business.
Abide by the ‘new normal’ rules
Follow the protocol because the safety of your employees and customers are important. Provide the materials and list of protocols. Always remind your staff about it and make sure that everyone is doing their part. Do the necessary actions. It’s best to do action control and continuous monitoring. Keep studying about the business’ growth and never stop conceptualizing steps on how to turn things around once the pandemic is over. Best things you can do for now that will surely work are:
● Cut down unnecessary expenses.
● Hire a marketing specialist.
● Run FREE webinars or Sending FREE E-books as lead strategy.
● Invest more in something that your business can benefit from, like webinars, marketing specialist, employee training, and more. Boost your business’ online presence with our help!
Simply send us an email at email@example.com.