COVID-19 crippled the world last 2020. Everything – as in, literally everything – ground to a halt as we all tried to figure out how to fight it.
But thankfully, the world is now recovering… mostly. Some businesses have completely closed, and others are still running but barely breaking even. It’s definitely going to be a while before things are back to pre-COVID.
However, that doesn’t mean you don’t have any opportunities to grow your business. Read through this list for the steps you can take.
Check your cash flow.
Before doing anything, you have to make sure that you still have money to keep your business afloat. All steps would be useless if you can’t afford to invest. And as much as this business is your passion, if it’s not making money, it’s futile, to be frank. Now, if you have plenty of reserves to keep your business running, then feel free to keep on reading.
If not, perhaps it’s time to look for investors. Make it clear to them why they should invest in you and your company. Make sure to prepare a plan beforehand. That way, you can secure the money you need to keep your business running. You will also have funds for the investments you’re about to make.
Get a marketing director.
A lot has changed in the age of the pandemic, and that includes marketing. Even if you’re cutting costs, it’s not recommended to do all the marketing by yourself. Think about it: if you’re too busy marketing, will you be able to give your full attention to growing your business? After all, marketing is not a joke. You’ll have to think of strategies, analyze data, think of campaigns, and more. Plus, marketing is the best way to get your company’s name out there.
We suggest hiring a marketing director instead, especially if you don’t have one yet. Let your network know that you have an opening for one. Don’t just hire anybody, though. Make sure to check out the marketing director’s resume if the applicant has the required skills needed. Otherwise, you’ll just waste your hard-earned money.
Make the most of social media channels.
Yes, it’s harder to reach people physically. But that doesn’t mean you stop trying to reach out to them. They are potential customers, after all! And you can contact them via social media platforms like Facebook and Instagram. Just like you, all the interactions they have nowadays are pretty much online. While they wait for the world to become safer, they’re hanging out on those platforms, catching up with their friends.
Why not join them on those platforms? Lead your marketing director to run ads on Facebook, for example. Make a Facebook group and invite clients to join. Give them special freebies or rates when they do. If your clients are businesses, then there’s Linkedin. Start posting valuable content that they need to get their attention. Most platforms are free too, which is cost-effective.
Find ways to offer your services in this new normal.
We have to accept that some things won’t go back to how they were before COVID. For instance, companies may no longer be interested in doing face-to-face events. Or customers may not want to view products in person. Therefore, you have to find ways to offer the same service – just in a different way.
For example, if you’re a videographer, why not offer live streaming services? Or instead of recording people, why not shoot videos of products instead? Go look for customers that might need your services, even if they didn’t need them before. Also, find a way to diversify, and you’ll definitely grow your business.
Team up with businesses that can complement what you offer.
Remember what we said earlier? All businesses feel the effects of the COVID-19 pandemic, not just yours. So why not look for a company that has a service complementary to yours and team up with them? Let’s say you run a wedding photography business. Why not team up with a wedding coordinator, event venue, or florist? You can come up with packages or special rates if you get booked together.
Or it can be that you sell cars. Why not team up with a gas station in your area? Ask them if they can offer a certain amount of gas when customers buy from you.
The point is to network and partner up. Help market one another’s services. Just come up with an arrangement that will be beneficial for both of you.
Continue to pay attention to world events.
As tiring as it can be emotionally, you still have to pay attention to world events. Why? Well, world events will tell you what’s coming next. Will there be a new strain of COVID? Or has COVID been classified as endemic and therefore less harmful? Is crypto going to really be the new system of paying, or is it just a trend? Things like those we mentioned will dictate how the world will run in the future. It will also definitely impact consumer behaviors, among many other things. Make sure you won’t get left behind if there are going to be new business adjustments.
Conclusion
There are many courses you can actually take to grow your business after the COVID-19 pandemic is over. While they are all effective strategies, you don’t need to do everything at once. Check your monetary reserves and then list the things you need to prioritize. Whatever you can afford first, that’s what you start doing and where you start investing. Do the other things once you are ready to do so.
Ultimately, only carry out the measures to address your specific business needs and goals. And if a certain step fails, remember to take it easy on yourself. Recognize that you’re not the only one affected by the pandemic, so don’t feel too bad. Just keep trying, and eventually, you will experience business growth.
And you’ll be thankful that you didn’t stop.
