In this coronavirus, pandemic businesses are suffering from the worst face after the last recession in 2007 and the global economic slowdown in 2020.
It is well said in Indian films “The show must go on” in this coronavirus pandemic businesses need to stand and has to grow their sales figures. But for growth in sales rate business need a modified business strategy & planning.
So, here are our top 3 successful strategy changes that will help a business in coronavirus pandemic.
1. Digital Marketing Strategy
2. Competition in fast Delivery & supply
3. Communicate with customers & Trust building
1. Digital Marketing Strategy
In this lockdown state, most of us are spending time on social media platforms like Instagram, YouTube, TikTok, Facebook, Twitter and many more. In this lockdown conditions, everyone is finding the easiest way to get goods and essential items supply, and the easiest way is to order online and get home delivery. But this habit of online order has opened the getaways to a whole new market of complete digital order and delivery.
A study has found that average humans spend 4 hours daily on mobile phone and mostly on social media applications.
In the coronavirus pandemic breakout, all the digital platform has seen the massive growth rate of 30-50%. which has open the biggest doors of online marketing and various channels of mass marketing.
Strategy changes-
[1] The Platform like TikTok, Skype, Zoom, Netflix, Amazon and some other platforms has evolved in this time. They have a huge potential to help the businesses to reach out to their customers.
[2] Narrow audience targeting should be done, as the size of the audience is increased and using narrow targeting business will reach to their most desirable customers.
[3] SEO(Search Engine Optimization) & PPC(Pay Per Click) will be used extensively in digital marketing.
[4] Affiliate marketing will reach on new heights as the collaboration of businesses will help the growing affiliate site to endorse multiple products and services.
2. Competition in fast Delivery & supply
Delivery of any goods is a tough job for any business as it requires more network and manpower on the field. In a lockdown, most of the international trade is shutdown as demand and supply chain is broken.
strategy changes-
[1] Simplify the delivery chain module, as the delay in goods delivery affects the customers. business needs to hire more delivery vendors and strengthen the goods management to match the end customer deadline.
[2] Startup and small business need to focus on a specific area or location, as this will be the survival battel for small business. More focus on the targeted audience and how they can deliver their will reach.
3. Communicate with customers & Trust building
Communicating the customers will help in building trust in brand and emphases on business transparency which helps in future connection building.
strategy changes-
[1] Using social media & broadcasting Network channels business can communicate with their customers, telling their business is growing and what is the next step for future products. This will help in gaining new customers and retaining existing customers.
[2] Business transparency in stakeholder & employees is very important to sustain the challenging situation. that helps in trust-building and increase the confidence of any organisation.