With the rollout of vaccines and the world being unlocked, a lot of opportunities pave the way for building your business in the post-covid era. Although the impact of the crisis on 82% of the businesses was negative. Yet, they seem to be recovering. The pandemic has certainly brought a plethora of opportunities for business owners. Organizations are now forced to rethink and retool their way of working. Here are four specific strategies you can use to speed up your growth as the world starts to unlock.
1. Accept the new normal – Digitize
The covid-19 pandemic has changed the way we do business and altered the way consumers buy. The new normal requires businesses to transition into a digital way of working. From deliveries to payments, everything is contactless now. To tap the growth opportunities in the new normal, adopting digital technologies is indispensable. With 55% of the startups already digitizing during the pandemic, there is no reason for you to stay behind.
Adopting a digitalization strategy will reduce your business cost and add value by transforming the whole business model altogether. But the real question is how do you do that. Free tools such as the Bikry app helps businesses establish their online store in seconds and reach out to a massive audience with a smooth delivery system at the same time.
The first step is to digitize the way you work. Every step from manufacturing, inventory, invoicing, accounting and auditing need to be digitized. A lot of software like Tally and Zoho Inventory come in handy in the process. Using such software minimizes the need for training. They make tracking down numbers and monitoring expenses easy.
The Internet and other digital marketing technologies are crucial in transforming into a wholly digital business. Digital marketing is a broad term and comprises all online channels which can help you promote your business. The online channels can be Email marketing, social media marketing, and web & mobile-based marketing.
Moving your sales to a digital platform releases you from the boundaries of a brick-and-mortar store. Having an e-commerce platform can help you to move online wherever you can. Thus, increasing your customer base. Another critical aspect in Sales is to provide a seamless customer experience, from quick deliveries to an excellent after-sales process, all focused on adding value to customers.
2. Focus on customer retention
Retaining your old customers is critical to growing in the post-pandemic era. Exploring what makes your customers happy and how to make them keep coming back to you is a challenge. However, investing in a good CRM software like Freshsales can make you follow a data-driven approach. It further helps you to upsell and create a dynamic sales pipeline.
Other ways to retain customers are:
- Provide them exceptional customer service.
- Connect with your customers personally.
- Shower them with personalized messages or notes. Especially on important events like birthdays.
- Timely resolve any customer grievances.
- Reward them with something every time they make a sale with you.
For small businesses, maintaining a personal connection with customers is essential. More than 90% of the consumers believe ‘customer service’ to be an important factor in loyalty towards any brand.
3. Empower your employees
A successful business is always a result of effective leadership and teamwork. The reputation of the companies that were kind and humble to their employees during the pandemic saw an upward trend. Understanding that the pandemic was not only hard on you but on your employees as well will help you better shape your employee management. Few tips on how to build a rock-solid team post covid are:
- Give them the flexibility to work remotely if possible
- Engage with your employees personally. Take feedback and try to improve upon them
- Make employee health and safety a priority
- Inculcate team-building activities in your functioning
4. Keep Updating
The global economy saw a complete changeover in this pandemic. No one knew how to deal with this crisis. There were no laid-down strategies or manuals to cope with the detrimental effects of the Covid-19. Hence, businesses must keep evolving. You can evolve and update by:
- Adding new business lines
- Switching to both online and offline selling
- By automating business processes
To respond to the crisis, businesses must change and grab the opportunities they have in front of them. While challenging, the evolution can be worthwhile once the short-term effects of the pandemic subside. These principles can help you past the threshold of success and transform your business into a prosperous one as the world starts to unlock.