Adapting Your Business Strategies During the COVID-19 Pandemic
In a time full of disruption, uncertainty and evergrowing challenges, the COVID-19 pandemic has turned the business world upside down. No matter what industry you’re in the pandemic has forced change upon us all and thrown everything you thought you knew about your business out the window!
But, as many businesses have shown, being resilient and adapting to the changing trends that have quickly become part of the norm is what’s needed to keep your brand, company, shop or service in the best position possible. Forget about stockpiling toilet roll, it’s all about indulging in your business needs and refocusing your strategies from every angle.
A recent study found that for SMEs in the UK, the average loss of earnings was £11,779 while Scotland and the North West were hit harder than everywhere else outside of the capital losing around £15,000 on average. Adapting to life under a COVID-19 ruling sparks a true fight or flight response, forcing business to change the way they operate and find new ways to grow.
Here we take a look at some of the ways in which businesses have adapted to COVID-19.
Online presence is everything
With travel restrictions, social distancing and calls to stay at home, many cities now resemble ghost towns making outdoor advertising ineffective but online advertising is more active than ever. Who knew people could spend ever more time scrolling than they already were? COVID-19 has forced businesses into a new digital landscape and challenged them to reboot and rethink their online presence. From creating social media ads to making sure your website sets a good first impression, online branding now more valuable than gold dust.
Being accessible and easy to find
Despite the challenges that businesses of all industries are facing, competition is perhaps even tougher as everyone fights to be seen. Adapting to online browsing and shopping habits means you must be accessible and easy to find among a sea of other sites. SEO should be your best friend. By gaining insight into what people are searching for you can understand their needs and how your business can provide the solution. Over the last 12 months, the focus has gone from offline to online so having a concrete presence on the web is one business strategy that’s been forced into fruition.
Keeping everyone in the know
From customers to suppliers, people want to know what your business is doing to stay safe and adapt to COVID-19 developments. Transparency is now a big expectation for businesses. How are you going to incorporate this into your strategy? Social media, emails, ads, website updates and who knows, even TikToks, are all needed to get your message out there. Keeping people in the loop is a strategy that will help you remain operational and give your customer confidence in the steps that you are taking.
Adapting to new trends and habits
One of the top questions in everyone’s mind - How can we modify our business to meet current trends and habits? From restaurants to personal trainers, finding new ways to adjust operations and strategise is the main priority. Video calling, takeaway services and at-home entertainment are just some of the ways the businesses have been forced to diversify themselves. Consumers expect action not only from their government but the brands they invest in. Striking the right balance between the values that make your brand unique and the need to stay relevant is a task that requires innovation and quick-thicking, however, businesses big and small have already proven their capability to do so.
Paying attention to loyal customers and clients
Customer loyalty has never been so important. One of the most critical businesses strategies throughout the pandemic has been reconnecting with loyal customers since they are the bloodline of any successful business. In a time when so much is out of our control, customers want to feel heard. However, there has also been a shift in how customers view brands as shopping behaviours move from exploring the market place to choosing products and services that are convenient, available and valuable investments. Businesses must personalise customer experiences and create new avenues in any way possible. Using a customer-forward approach has been adopted by companies across all fields.
Good branding is essential for creating new opportunities as well as stability, so there’s no time like the present to rethink your strategies. At GUHP, we’re experienced in all things digital including brand positioning, SEO, web design and more. Get in touch with us today.