The ongoing COVID-19 pandemic has forced businesses in virtually every industry to reevaluate their strategies. As an entrepreneur, you should maximize any opportunity that can keep your business running at such times.
How do you maintain your business growth during the coronavirus pandemic? By deciding how best to work with (or around) current events to retain your target audience and keep your profits from dropping. Let’s look more closely at a few proven strategies.
If you want to retain customers, you’ll have to consider what concessions you can make for them. For example, plenty of customers don’t have as much disposable income as they once did and can no longer afford certain products or services. Others will ask to spread payments out over 60-90 days rather than the previous standard of 30 days. You may not be able to adjust your prices substantially. But being willing and able to accommodate extended payment plans can help you retain clients in the long term.
Don’t Let Communication Break Down
Effective communication is key to business success. Develop a reliable communication plan to reach out to all stakeholders, including investors, suppliers, clients, and business partners. More importantly, focus on marketing your products or services for their immediate benefits. Business owners trying to stay afloat during the pandemic are more interested in keeping their doors open rather than a multi-year investment. Show them what you can offer in their immediate future.
Train Sales Personnel in Your New Strategies
As the business owner, dedicate some time and train your sales reps on changing marketing strategies. That will help them take proper steps to close business deals. It is also prudent to congratulate the sales reps for doing a great job instead of just telling them where to improve. Such positive comments will boost sales reps’ morale.
Ultimately, keeping your business running during the pandemic depends on your choices. Be flexible with your marketing strategies, implement creative ideas, and keep your sales reps updated. That way, you will dramatically increase your chances of your business both surviving and thriving even in these challenging times.
Contact us today for more tips on growing a business during the pandemic.