Small businesses face many challenges these days. The outbreak of COVID-19 has disrupted the operations of companies all around the world, and enterprises are reorganizing as fast as they can.
Your small business’ specific response to this situation may vary depending on your industry, but the following strategies will offer you a general idea of the guidelines your business should follow over the next weeks.
Adapt Your Services
The basic challenge for most businesses during the COVID-19 lockdown is finding new ways to deliver their services. Most people can’t leave their homes, so it’s a good idea to meet them where they are, and that’s usually on the internet. Organize a delivery service or join a platform that delivers your goods. If you are a service-based company, ask yourself if you can make a momentarily shift as a response to the current situation.
Make Sure to Communicate Clearly With Your Clients
Communication with your clients is key during changing situations. Make sure your website or social media profiles are updated, and explain clearly any modifications to your day-to-day operations. Any communication exchange with your clients is useful, since it can be a valuable source of information. Communication with your customers may also provide ideas you can apply to adapt your services or to implement new strategies. Your clients have in-depth knowledge of your industry and your services, so it’s important to establish reliable communication channels with them.
Double Down on Your Marketing Efforts
Marketing can make a big difference for your business. It doesn’t have to be fancy or complicated: You can use the same tools you have been using so far, but with more frequency and more deliberately. Or, if your budget allows it, you can consider hiring an expert to do the marketing for you. Think of promotions that may be particularly convenient or attractive to your clients and use your website and your social media accounts to spread the word about them.
If you need money for expenses in order to keep running your small business, you can always consider ACS Factors for factoring your accounts receivable. This way, you will have the capital you need to cover the expenses of opening an online store, or implementing a marketing strategy so your business can adapt more easily to the current situation.