In the midst of the COVID-19 pandemic, the economy has taken several downward turns. This is a scary fact that businesses are faced with everyday, and have been for quite some time. A lot of businesses, corporations and small businesses alike, have taken some pretty hard blows. Many businesses, in fact, have failed or reached a time of financial crisis or near ruin due to lack of sales in this uncertain time. There are, however, a few things that you can do to buttress your business against the onslaught of hardship, and even improve your sales in these tough times.
Cause Marketing and Positivity
Everyone is feeling the pressures of COVID-19. Amidst stay at home orders, crumbling businesses, and uncertainty, people need something to believe in. People are also constantly searching for an outlet and a means of maintaining purpose. It is for these reasons that ‘cause marketing’ can be a great boost for your business. Basically, find a way to allow people to donate to a relevant cause by buying your product. This will not only help to boost your sales, but also boost your brand’s affinity and expand the mission of your company. Helping others is also just plain good.
With the morale of the entire nation on a razor’s edge, positivity will go a long way. People are seeking positivity to cling to throughout the day. Positive advertising and a positive brand-message are just the kind of thing that people are looking for, and willing to pay for. Times of hardship are not good times for preying on insecurity or using divisive marketing techniques. In fact, people will find that to be somewhat ‘tacky’ and often ‘run away’. Instead, marketing that strives to bring a sense of community, purpose, and sef-worth will help to bring your brand the attention and customer base that it desperately needs in these trying times.
The Power of the Internet
It is no secret that the internet is a powerhouse. It is also no secret that more people are shopping online and fewer are buying in physical stores. The trend of shifting to a more online-focused business model has been happening for quite some time. We are, however, in a time when even those who prefer to shop in physical stores are being asked to stay home and practice social distancing. This means that online sales are at an all-time high, and that it is a great time to increase your online presence to make more sales. Keep in mind that the fast-paced internet marketplace can require frequent upkeep for your marketing and your website in general. Even though it can seem overwhelming, the payoff for moving portions (or even all) of your business to an online platform will most definitely pay off.
Be Prepared, Be Quick
Just like anything, it is always good to be prepared. With so much going on, the world is changing rapidly and your business might need to do the same. The only way to stay ahead of the curve is to stay informed. It is always a good practice to react in a timely and reasonable fashion to the world around you. New sales training might be in order, and new trends might need your attention. It always pays off to keep yourself ‘in the loop’ on current events and market trends. Sales management can be a bear in such times, but with the right tools and training, along with some flexibility and positivity, your business can thrive in spite of the wavering economy and recent uncertainty.