Tips to Keep Your Business Moving Forward as We See the End of the Pandemic
The pandemic has hit small business owners right where it hurts: the bottom line. Business growth has been near impossible with the precautions and setbacks COVID has had on businesses. Unfortunately, approximately six out of 10 businesses that closed during the worst of the pandemic won’t recover. If you find yourself still hanging on, keep a tight grip. There’s light at the end of the COVID tunnel, but you still have to get creative to keep the doors open.
Here are some tips for continued business growth:
Increase online visibility.
In the age of social distancing, your online image and visibility have become even more critical. Make sure that your website is easily findable from Google, Bing, and other search engines.
One way to enhance online visibility is to invest in search engine optimization services (SEO) and social media marketing. This is, in fact, a multibillion-dollar advertising engine that you can get in on with often a relatively small investment, so don’t get left behind. For an even wider reach, work with influencers to get the word out on your products and services.
Do some housekeeping.
All businesses have “housekeeping” tasks to attend to. When you’re extremely busy, it’s tough to get these done. But, if you’ve slowed down because of the pandemic, you are in a unique position to make changes within your organization that will help you maintain your current customers and grow in the future.
A few things you can do now are to restructure your business and add systems that improve customer satisfaction. If you’re currently operating as a sole proprietor, it makes sense to protect your assets by turning your business into an LLC. You can also add new software and services, such as workflow systems, to make your business run smoother than ever.
Add an online shop.
Whether you have products or sell consulting services, moving these online is a smart choice for business growth especially when customers cannot come to you. Plan to launch an e-commerce store or offer phone or video consultations to clients interested in your services.
Livestreaming is not a new concept. People have been showcasing themselves in video since the internet was fast enough to handle this type of content. Schedule online events for your customers and potential patrons can increase growth exponentially. This may be something paid, such as a yoga class or a free interactive event, like a cooking demonstration. If you already have the equipment to do this yourself, you won’t be out any money and can easily add to your client base. Keep things lighthearted and informational, and avoid brutal selling tactics. The last thing you want to do right now is to turn off eager viewers. Livestream suggests Vimeo, IBM cloud video, and Brightcove as the top three streaming services today.
Save cash where you can.
When you have found yourself in a cash crunch, you will have to look for ways to keep your current account in check. Start by partnering with a financial consultant that can help you evaluate your books. You may be surprised to see where the bulk of your spending happens and how that might be affecting business growth.
A few other things you can do are to improve efficiency and utilize freelance talent. Industry Today asserts that improving your shipping and warehousing processes will enhance customer efficiency and increase profits, but you also have the added responsibility of upping safety measures.
Also, as you bring back employees into the mix, consider hiring freelancers instead of a full-time staff. Freelancers are beneficial for many reasons, the least of which is cost-efficiency. They work when you need them and are experts in their particular field. You don’t provide benefits, and you only pay for the time they spend on your projects. You also save on overhead costs as most work remotely.
Everything you do for your business growth today influences where it will be from now on. The pandemic is almost behind us, and the tips above can help you keep your business afloat just a little bit longer until life can get back to normal.
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