Small businesses are responsible for employing nearly half of the private sector workforce, according to World Economic Forum. During the pandemic, when socila distancing measures are applied, many small business have not been able to survive.
To survive this volitile time, consider to follow these ways to help your business.
- Take advantage of social media
When Covid causes countries to shut down parts of eceonomy; shops, restaurants, business are forced to close, many people deel isolated from relations with customers. Maybe we should need to become mor social on social media.
According to Smart Insights, more than half the world uses social media. Social media users are now spending an average of 2 hours and 24 minutes per day multi-networking across an average of eight social networks and messaging apps.
That means, social media has become a lifeline between businesses and their customers. When businesses use their social media to bring free value to their potential customers, that’s how they will continue to build and maintain their relationships.
But you should not just post creative content on their social media platforms only, but also interact with their followers. Keep in touch with your potential customers on social media for building online relationship is key to survive through pandemic time: like their posts, respond to their comments will further build the relationship.
- Learn how to pivot
While world leaders are struggling to re-open economy, you need to learn how to pivot, which means you should shift to a new strategy to address something that may not be working well within your business.
Pivoting sometimes can be simple, such as changing its platform from software to an app, but sometimes can be complex, as changing the entire business model. Note that, flexibility is an important strategy. You must know when to pivot.
- Optimize business spending
Not only in pandemic, you should always reevaluate how your money is being spent in your business. Reducing cost is the most effective way to continue pursuing business goals during uncertain time.
Maybe you should find a way to switch from print ads to digital ones. Digital marketing can help your business reduce monthly advertising costs, and provide more targeted reach to their ideal buyers.
There are ways to optimize your business spending. Do a evaluation of how money are being spent monthly, and figure out how to make effective changes.
Get help from local governments
There is a sure thing that business are not alone during hard times. Local governments always offer businesses resources to overcome the the bad effects of the Covid. So reach out to legislators is a good way to find out what resources they offer to help.
Another way to get support is to join a local task force that focus on small businesses and the issues at hand. Participation is a good way to be an advocate for your business and your local community. Business owners should not hesitate to do so.
- Mental health support for your staff
Ofcourse, Covid has not only put your physical health at risk, but also mental health.
A business owner can not tackle the well-being of their company without first tackling the well-being of themselves and their staff. By giving social support to one another during uncertain times, it will help to build a closer community within the organization. It’s important to continue open communication, company updates, as well as offer resources for mental healthcare for yourself and your staff to help alleviate vulnerabilities.