Small businesses surviving the pandemic are find creatives ways to reach their audiences and stand out amongst the competition. In March of 2020, businesses across the globe were faced with a crisis that have yet to see in their lifetime. The Covid-19 pandemic caused havoc on businesses around the world. Some businesses closed while others weathered the storm determined to keep their businesses open. In order for small businesses to survive the pandemic, thinking caps were forced to be strapped on and creativity was pushed to the limits. So what exactly did businesses do to survive the pandemic, and not only survive but maybe even thrive?
Here are three business strategies for brands to not just survive a pandemic, but thrive!
number one – EMBRACE THE DIGITAL WORLD
If you haven’t already fully embraced the digital world, then what are you waiting for? There is no looking back. Technology is only moving forward, and the question is are you moving forward with it. Brands must embrace the digital world in an effort to not be left be. Brands that witnessed the biggest success during the pandemic are those who took their businesses online when they were forced to close their doors. As consumers found themselves stuck at home, their buying habits changed. As a result, consumers are spending less money on goods and entertainment. So what did people do? They spent more time online. Ecommerce shopping became the predominant method of purchasing for consumers all over the world.
number two – BE ADAPTABLE
Change your business model. Small businesses surviving the pandemic are changing their business model. Throw your old plan out the window and come up with a new game plan, as your old one is no longer applicable to the current market. What can you do to set your business apart from others? Are there changes can you make to reach your audience? What needs or solutions can your brand solve for the customer while they are stuck at home? These are very important questions that brands should be thinking about. Did you know that 85% of consumers have increased their curbside pick-up orders since the pandemic? The pandemic causes a shift in consumer expectations when it comes to their purchasing habits. Now consumers expect curbside pickups to be a constant. It not only saves them time, but it’s safe too.
What about subscription services? Yes there is Netflix, Hulu, and Amazon Prime but I am talking about retail subscription services for small businesses. Subscription services offer small businesses a unique opportunity to capture a steady monthly revenue while provided a need or solution for their customers. During the pandemic, people found themselves bored. Consumers took to home projects and arts and crafts to keep them busy. Amidst the pandemic, arts and crafts sales increased by a shocking 70%. This is a great opportunity for small businesses to offer their customers a product that not only solves a problem for them, but also ships on a monthly basis to their home all while providing your small business with a nice little reoccurring revenue. Check out this video of my friend and local small business owner in Wichita Falls, Texas who talks about establishing and growing a subscription service.
number three – DON’T BE QUICK TO MAKE SNIPS
Whatever you do, don’t be quick to start cutting your marketing budget. Yes its scary, and yes you fear what the future might hold. But your marketing budget isn’t necessarily where you should be cutting back. Believe it or not, studies are consistently showing that businesses who continue to market themselves during tough times are the ones who are mostly likely to survive. Small businesses surviving the pandemic are not quick to snip the budget!
Find it hard to believe? Well one thing we know is that history has a habit of repeating itself. Looking back on the Great Depression, businesses faced the same challenges brands faced today. However, they didn’t have the luxury of a digital age with the ability to sale on social media. Yet brands like Kelloggs thrived during the Great Depression. Rather than cutting their marketing budgets, they pressed forward and took the lead from Post. Cutting your marketing budget only opens the door for another business to take your place.
As we move forward to what we hope is a post Covid-19 world, small businesses must continue to be innovative and creative with their marketing and how they can reach the customer where the customer is at. The work you do now is what will take your business successfully into the future.
Category: Social Media Marketing 201