You’re about to discover what will be a game-changer for you (& your business). Only if you read this to the end. I’m about to show you how your business can perform better going forward rather than it getting destroyed. You see, after this coronavirus is over, a lot of business will be DEAD. Not immediately but gradually they’ll go to extinction. Just imagine, last month we were celebrating “VALENTINE” and this month we are shouting “QUARANTINE”.
What does that communicate to you? Things are changing and you’ve to change. Things are changing including how businesses are being run. “Uber” used to be a testimony but today, even Uber is being affected by the Pandemic Corona Virus…
Nobody wants to go out which means LOW SALES for them. Anyway, another man’s ruin is another man’s gain… Netflix is making money than ever before( Since a lot of people are now indoor). Zoom is raking in users. They now have excess demand than ever before. Hear what the CEO Eric Yuan said: “I had to shut down my phone because almost everyone is calling us,”.
Why did I tell you this? Well, it’s to show you that it’s time to do things differently. As an Entrepreneur, It’s time to explore and evolve too. The most important question to ask yourself right now is “How can People do business with my brand better anywhere they are in the world?
Here are some suggestions:
If you’ve not taken your digital footprint seriously, this is time to do so. This is time to put yourself (& business) out there online. ‘Covid 19’ has made it a must for you to leverage digital platforms for your business. People must be more aware than ever before about what you do. You need to reach more people who need and can be able to pay for your product. After this pandemic end, people will interact with brands more online, buy more online, make enquires online, etc. Which means you might sell more online rather than your offline store(s). If you sell physical products or services, make it possible for people to order for your product or service online seamlessly, make it easy for people to make enquires about your business online. You can create messenger Chatbot or create an interactive chatbot on your business website etc
Start with “Google my business” page, go ahead and open it. It’s still free. “Google My business” help people to find you and your business in your locality. Have an active social media page, if you don’t like social media, hire a social media manager. My team of expert can help you do this effectively. The cost of paying one outweighs not doing it at all.
Get an E-commerce website if you can where people can check out your product or services and pay for it online. . Digital is the way, invest in your digital assets.
2. Have Digital products:
I can’t emphasize it enough. We’re in the knowledge economy. Information will sell even more after ‘Covid 19’ is over. This is the best time for you to publish EBooks, create online courses, start a podcast, create software, start a virtual Coaching program, etc. You’re a fashion designer, right? Create a digital product on fashion design, rather than waiting for people to meet you in your physical shop, start selling the course online.
The consumption of digital products will increase drastically. So, digitalize your product or service. Stop procrastinating. You can make a lot of money in your business from selling a digital product etc.
3. Start Running Ads:
Since digital consumption will increase, then you must reach more people and you can only do that when you PLACE ADVERTS on both digital and traditional channels. You can run Facebook Ads, Instagram ads, Youtube ads, Google Ads, etc depending on your target audience. This will help you get more leads that you can turn to customers…
Most times, people make mistakes of not spending on ads. Well, spending money on Ads is an investment, not an expenditure. As a business, you have to have the cost of customer acquisition: This is the money you set aside to acquire a new customer. Spending money on ads helps you to put your product or service right in front of more people who need your products. And the more you put your product or service in front of these people, the higher the chance of turning them from leads to paying customers and from one-time buyers to a lifetime buyer. However, you must be able to be effective in running ads so that you won’t just pay and end up not achieving your desired result. You need help in running ads? Contact me. Let our team of experts do the hard work for you while you work on your business.
4. Get Better In Your Business:
Reid Tracy, CEO of Hay House, when once asked the secret to selling a lot of books replied, “Write a good book.”You see, his word doesn’t apply to Books alone but every business (whether you’re selling a product or offering a service). One of what you should start thinking as an Entrepreneur during this tough time is “How best can I serve my customers? “.
Once you figure that out, do well to take action. You see, this Pandemic will lead to the rise of many brands and loss of the loyalty of some customers to some businesses. Some customers will have the opportunity to check out other options (and once they get one that satisfies their need (or want) better than you do), they might lose their loyalty to your business.
The best way to make customers continue buying from you (after this pandemic is over) is offer them GREAT STUFFS. (Not good or better stuff because everyone is offering that already).
So, don’t make assumptions. Think through your business process. There’s something that can be done and should be done to make people do business with you overtime…Nobody SHOULD be loyal to you when they’ve better options. It’s not evil, just normal Human psychology. You might need to ask questions from your employees (some of them are closer to your customers that you are).
Ask them about the feedbacks of your customers, call few of your customers and ask how you can serve them better. Take this period as MINI- RETREAT.
You might need to take a critical look at your Competitors on what you can do better. But, Irrespective of how things turn out. This pandemic should birth creativity and innovations in your business if you won’t go to extinction. Great Product affects the number of repeated purchases by a customer, therefore you don’t have an option than to be great at what you do if you won’t lose customers.
5. Build Your Personal Brand:
One of the best things you’ll do to your business is to build your personal brand. You can drive a lot of opportunities for your business when you build your personal brand. Building a strong personal Brand aid growth of your business. When people see you as an expert in your niche, they’ll be willing to do business with you.
People will find it easy to do business with you when they trust your personal brand. Your personal brand must be strong that people will be willing to do business with you. Build your personal brand by building your profile and consistently push out relevant and educative content out there. I’ll write extensively about How To Build your personal brand as an Entrepreneur in my subsequent post.
There you have it… With these simple steps, you can bulletproof your business from being destroyed by the pandemic coronavirus.
Now, two questions for you??
Do you have any Questions? Ask Below. Do you find it valuable, let me know.
P.S: If you find this valuable, don’t you think you should share it with your friends too?