In recent months, the world has been trying to adapt to the challenges of Covid-19—health system fragility, social distancing, and the socioeconomic crisis —which has spurred business creativity .
During this period, teachers adapted their classes to the virtual environment, academies and institutes opened YouTube channels , e-commerce became even more popular, and delivery services experienced exponential growth.
It hasn’t been a different scenario for SMEs. Despite these exceptionally difficult times, with closed stores, laid-off employees, and negative balances, companies are streamlining their business strategies to meet market expectations, maintain their financial stability, and still seek ways to continue growing.
Covid-19 has opened many windows for us, even in the face of adversity. It has taught us to value presence and sharing. It has allowed middle east mobile number list us to better understand each other and provided us with tools to achieve the entrepreneurial dream we’ve had in mind for some time, with a new sense of urgency, sharpening practicality in every decision.
With that small—but important—window of opportunity in mind, we’ve prepared a special piece of content in which you’ll learn how entrepreneurs are adapting and overcoming the major challenges presented by Covid-19.
In this article, you’ll learn the most important criteria you should consider to optimize your strategies and overcome the crisis .
Happy reading!
What you will find in this content
1- The main challenges in times of Covid-19
2- How can I adapt my operations to the challenges of Covid-19?
- Planning
- Take advantage of digital resources
- Adapt your communications
- Monitor your internet metrics
- Stay updated
The main challenges in times of Covid-19
With the health crisis being the main challenge facing the world in the face of Covid-19, individuals and their businesses have also been significantly impacted financially .
The mandatory stay-at-home order affected the revenue planning of most businesses worldwide. How can you minimize this impact on your business?
- Reduce costs ; gain detailed insight into which elements within your company result in unnecessary expenses. Fixed costs like rent and electricity bills are often the hardest to reduce, but creating a list of expenses will help you identify those that can be reduced.
- Cultivate relationships ; even within social distancing. We are not alone in the crisis! Cultivate valuable relationships, participate in webinars, share your knowledge as a guest author on other blogs, and allow space for collaborative activities.
- Maintain fluid communication ; suppliers and customers want to hear from you. Send a monthly newsletter discussing what’s new in your business, plan your digital communications on social media, and be consistent in your communications. Let everyone know that your operations are still running.
- Take your products to the digital world . The need to operate in digital spaces doesn’t have an expiration date. A creative way to address this situation is to identify the digital channels that will give your brand online exposure. For example, creating tutorials for using your product on a YouTube channel is ideal for reaching interested people. After all, anyone looking for hair dye will want to learn how to apply it correctly. Right?
How can I adapt my operations to the challenges of Covid-19?
We understand that the uncertain situation has allowed our insecurities to take over. However, there are many options available to us when we seek solutions.
Let’s see how entrepreneurs are adapting to the main challenges in times of Covid-19 :
Planning
As we mentioned earlier, creating a new plan that takes into account the reality of the pandemic will help you not only japan data make financial decisions, but also help you plan your next steps for growth based on your current situation. Still not sure where to start? We share this recommended reading:
- What is a SWOT analysis and how to do it for your business?
- 5 tips on how to overcome the economic crisis and improve your business
Take advantage of digital resources
Digital transformation has never been more talked about than it is now! This process aims to transition a company to a digital culture, using technological resources to rethink and improve its production processes . Below you can find 7 reading tips to optimize your business’s digital transformation:
- How to start an online business? Simple step-by-step instructions!
- How to make money online: ideas for online business
- How to Create an Online Store with WordPress’ WooCommerce
- Online Store: The Best E-Commerce Platforms
- How to get the best results with branding
Adapt your communications
How do customers reach your business? If your company doesn’t yet have a solid digital presence, it’s time to invest time and resources in your communications . Demonstrating that your brand is relevant and trustworthy will be essential to winning more and more business. Below, we share three recommended readings to reinvent your brand’s communications:
- 8 WhatsApp Business Benefits for SMEs to Invest in Now
- 5 tips for including a chatbot in your web project
- How to create a FAQ page for your virtual store
Monitor your internet metrics
The days of making decisions based solely on intuition are over . In a physical store, there are certain metrics that are almost impossible to track, for example, the number of people who visit during a day, month, or year. In an online store, it’s possible to access this information in a practical way and make more strategic decisions. The first step is to learn how to set up Google Analytics .
You can also create and monitor your promotional campaigns:
- How to create your first Google Ads campaign
- Essential SEO tools to help you rank higher on Google
- How to use social media to benefit your business
- How to get the most out of Google Search Console for SEO?
Stay up to date: study trends in strategies for your market
No brand can survive in the market without understanding its strengths, its competitors, and, of course, the trends . It’s important to know your target audience, their purchasing habits, and how they evolve over time. For the following topics, we’ve separated marketing suggestions for three specific segments :