In a way, it’s like the air is being sucked out of the room. That’s what the virus did to business. Before, you make sure your store has curb appeal to attract customers. You put up blinking lights highlighting your brand and whatever is best to get more foot traffic to your store. But the virus has other plans. Today, 3 % of small businesses all over America have remained closed since the virus landed.
Indeed, the name of the game has changed. As traditional means of doing business are being challenged, you need to also pivot your strategy to survive. It’s but logical. Those businesses who are most adept at surviving without having to rely on foot traffic are making a killing nowadays.
A quick look at Amazon and how it became a humongous e-commerce giant is telling. During the pandemic, the Jeff Bezos-led company hired over 400,000 additional workers swelling its ranks into over 1,000,000 workers.
While revenue generation is top on your list to survive, one aspect you should not forget is how to keep your current patrons. Don’t forget making sure your customers stay loyal to you is half the battle. Studies show loyal customers could boost sales by as much as 95%. Finding ways to retain your captured market in these trying times is key. Here’s a quick look to make that happen.
Establish Proactive Communication
The U.S. Marines have a way of summing it up: Never leave a Marine behind. It is in times of extreme adversity that such resolve can certainly be tested. But such a slogan shows how much dedication each Marine has for one another.
While a business may seem like an entirely different ball game for you, it has similarities with warfare. For one, your brand must inspire dedication and loyalty. And like the Marines, you should not leave your customers hanging in these trying times.
The key to this is communication. Take a step back and list down the things you’re doing to help your customer stay safe against the dangers of the virus. Additionally, inform them if you need to close the shop temporarily or transfer the location.
It’s important you be proactive about this. As people tend to stay at home, connect with them via social media. What’s more, direct them to your e-commerce website. As the name of the game is having an online presence, make sure you continue connecting with them over the net.
Promote Gift Cards
Indeed the pandemic will rock your cash flow and profitability. But don’t think for a minute that you’re alone in this fight. If you want to explore brilliant ways to increase your bottom line, talking to expert cash flow consultants should be wise. Far too often, a fresh look from an expert professional looking at your business processes can go a long way in giving your business a needed lift.
An ingenious way to connect with your loyal patrons is by the use of gift cards. Not only will it help you earn an income but it also guarantees your customer will retain your business in the near future. This is true with restaurants.
Stream/Video Chat Your Service
Cultivate your brand in the eyes of the customer by putting it where they can see it most: online. Indeed, you need to go digital. You can make the most of the countless hours people spend surfing the net while at home.
It’s a way for you to think of innovative ways for your customers to avail of your service. So, if you’re a yoga club, offer the service online. That should also be true for teachers, tutors, gym instructors, and a host of other services available online.
You can also make the most of a Vimeo channel. If your service is not something that cannot be available on live videos, you can start a play-for-a-fee service on Vimeo. A good example here is an accountant who puts up a Vimeo video on how to compute a tax return.
It’s ingenious. You can create content and your customers can avail of it via a paywall.
Make the Most of an Online Event
Breath life into your patrons. While you can’t gather people by the throngs in an offline event, There’s nobody stopping you from doing an online event. Make one. It’s a great way to connect with your customers.
Take note that people are bored nowadays so if you can factor in something that’s entertaining, that should work wonders. Even better, you can free service (e.g., Facebook Live, Instagram Live) to make it all happen.
Don’t lose the opportunity to earn though. You can offer special product discounts to the first 250 people who will stream your event. To that end, you can use online discount codes.
Explore Massive Discounts
If you take a closer look, these days are a most opportune time to offer long-term discounts. That can lock in your clients for the whole year. For instance, offer a one-year lock-in membership at a discounted rate.
This is spot on for gym memberships. Alternatively, you can give out free products for bulk purchases or discounted/free shipping.
It’s a very competitive world. And the business that will remain standing is the business that takes care of its customers the most. All you need to do is to ensure that is you.