Hello E-commerce Friends,
More than a year into the COVID-19 pandemic and we are still in the midst of this global crisis. This contagious, infectious, transmissible disease has left the world in an utter menace. The COVID-19 pandemic has completely changed the way we live – We have to practice the social distancing norms at all times by keeping a safe space between us and the other person who is outside our household. This is required to avoid the contagiousness of this deadly coronavirus.
As the country is undergoing an economic downturn due to the coronavirus outbreak, it becomes a challenging task for businesses to survive in the market. Hundreds of thousands of organizations are facing either budgetary hardships currently or are terminating their business or have an indefinite future. Keeping the right pace of work during such difficult times is challenging. This ultimately leads to complications in our mode of working too.
Businesses and organizations have to go online and make it work from home for their team which becomes quite tough for them to keep consistency. As per the information by TechCrunch, the impact of the COVID-19 pandemic has accelerated the shift to E-commerce by 5 years.
The below statistics show that there has been a rise in the E-commerce industry after the global pandemic hit us. Have a look at it!
Image Source: The Future of Commerce
However, terminating your business, be it a small business market or a giant organization is not the correct way. Still, there are ways in which you can grow your ongoing business or startup your career in this rough patch.
Here, we have come up with some of the tips and tricks which might help you continue your business smoothly and with ease in this time of toughness. You can also take a quick tour of the Impact of COVID-19 on E-commerce: 4 Ways to Change Your Business Strategy.
5 Tips to Widen Your Business In COVID-19 Crisis
Quality is the key
In these unprecedented times of testing, you definitely are on the lookout to reduce the cost of your product that you are delivering. But remember, cutting costs on major components of your product also means compromising on the quality of your product which in turn lessens the sales, resulting in a decrease in the company margins.
When making alterations in the product, You have to be mindful of not sacrificing even an inch on the quality of the product.
Let’s take an example for the same and understand it in a better way. Suppose, if a restaurant is lacking in its turnover, the reason could be that the owner purchases food ingredients at relatively cheaper rates, which results in customer disappointment on the taste of the food, leading to a fall in sales. Instead, the shop owner can make a cut on the prices of tissue papers or boxes.
Shift to online wherever possible
If you own a software company or an E-commerce agency, you might have come across a lot of online operations and conducted it, but if you are a company that requires some sort of a face-to-face conversation, then it becomes a challenging task to carry out business operations smoothly. Still, if you brainstorm ideas, there are a lot of ways you can still continue with your business.
According to a report by Oberlo, there has been an increase in the consumption of digital media by 12% since the start of the coronavirus pandemic. While the E-commerce world has seen a rise of 20% in online shopping.
For an instance, you can create an up-to-date profile of your business on Google My Business. Consumers can easily find you on google search and can get various information if you have made any changes in your business.
A tutor, a fitness instructor, or a culinarian can take virtual classes on online platforms like zoom. As far as you do not make it unprofessional, online meetings can also be as professional as in-person meetings. Just make sure you attend meetings by wearing professional outfits, with a clear background, and in an undisturbed environment.
Improve your social media presence by hosting interactive virtual events that educate and interests your target audience, provide a call to action for them, and build a relationship that makes them feel connected to your brand.
Be authentic in communication
Before putting your words in front of your customers, think as a reader about what you are trying to convey. Ask for feedback from other team leaders if you are unsure. Reach out and support your customers in these harsh times. They always remember how you responded during these times. Make sure whatever changes you have made in your firm during COVID-19 times, reach potential users in an effective way by sending them a personalized message.
Also, stay in a close relationship with your employees. Ask them about opinions if you are about to make a change in your firm. Whether or not to implement their ideas, remember to hear them for once and respect the thought they have come forward with. This will encourage your staff and enhance productivity amongst them which ultimately leads to the growth of your business.
Understand customer attitude
In the era where remote work and store closures are at a center, it is equally important to keep track of product requirements and watch out for the behavior and perspective of customers.
One way to do it in a proper manner is through social media channels like Instagram, Facebook, Twitter, and so on. During these testing times, know what your customers actually need in their life and try providing value to their necessities by manufacturing similar kinds of a product. Adopt unique and careful ways to approach your customers more powerfully.
Customers always look for brands that stand out from the market and deliver unique, affordable products or services. Look at yourself from the customers’ point of view and ask these questions about what makes you unique from others. If you are able to answer it, then success is sure to come your way.
Up your network
Building a strong network with other companies is a must not only during these pandemic times but also on normal days. Keep a constant check on what your competitors are up to. Also, let them know your strategies, plans, and what you are about to do. Establish a friendly relationship with them and share a word of hope and positivity in them. Also, let them know your success stories and the milestones you have achieved so far.
Also, try helping each other to not let your boat sink and stay afloat in the business world.
Hence, these were the 5 tips that will help you keep your business ongoing during the COVID-19 pandemic crisis. Lastly, we just want to say that, do not panic if your business is undergoing a crisis at this time, remember, everyone is dealing with this pandemic. You are not alone. We are all in this together. Be strong, be calm, and be thankful. Wear the hat of hope, increase communication, support and encourage your employees to take care. Work from home!
We at MageComp are always here to help you out with any online services from website development to digital marketing to mobile app development and much more in-store. Also, take a sneak peek at MageComp’s Contribution for Magento Stores in Corona(COVID-19) Pandemic.