HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC
The fact remains that some how every single person in their homes, neighborhoods, cities, nations and planet will eventually be able to fulfill most of their pre-coronavirus activity after all this, in God’s grace.
However “It’s going to be brutal. There’s no way to sugarcoat it at all. And when we get to the other side, companies are going to be operating differently,” Mark Cuban
All around the world every non-essential business is pretty much shut down. And there’s a high likelihood most will never reopen. Our values, behaviors, relationships, work, technology, security, transportation, and desires will change. For example, restaurants will have less tables and sittings due to need to provide more distancing which then means fewer staff and prices for somethings may go up. Judges, lawyers and clients in Toronto, Vancouver, San Franscico, New York, Chicago, Boston, London, etc. are now interacting remotely.
“Because of coronavirus, the New York court system has dramatically altered how it does business, holding virtual arraignments, freezing many nonessential matters, and having lawyers and judges work from home. Lawyers in both civil and criminal courts have been left to advocate for their clients as best they can without in-person interaction, while criminal defendants worry about spending time in city jails with high infection rates.”
It is a changing world for founders, marketers, entrepreneurs,employed or unemployed,government, etc. which means either we find a way or we all fail.
***The following tips will definitely assist your service / product business in using the situation to become a better person, better family, better business, and better world.! This content is being sponsored by BJ Mannyst, Founders Under 40™ Group, GreatestFounders™. If you need assistance with your service business during this time, please reach out to us jenn@foundersunder40.com . Best.
For a better full reading experience please check out the eBook and then purchase the eBook today via email or payment portal. Thanks.
INSIGHTS FOR BUSINESSES WHO WANT TO THRIVE POST CORONAVIRUS
Start Leveraging Talent, Manpower, and Equipment To Aid OthersAre you leveraging your knowledge, team mates, or other resources to assist others or add value? If no, find a way to assist others.
Demand May Need To Be Created
Yeah sure normal predictable demand is not happening that’s no excuse to just wait for demand for your service and products. Create the demand if that’s what it takes. People & businesses still have needs especially if you are a pain killer.
The Perception of Not Advertising / Promoting
Sometimes the perception you put out when you stop advertising, stop producing content marketing material, stop socializing, stop engaging, etc. . . .is that you are no longer in business or facing challenges. So a tweet or inspiration or other marketing tactics can help keep your business top-of-mind.
Re-Evaluate Demographics & Firmographics
You may want to re-visit demographic and firmographics stats of your target markets both online and offline. There’s going to be major changes due to income, mobility, wealth, buying behavior, decision makers, lifestyle, etc. Also consider that when businesses and consumers have more than enough resources past just surviving they will spend and invest.
Your Marketing ROI Will Come
If you can manage to market and advertise during times like this then you may see a great ROI when the recovery begins. The fact is people are getting expose to more content than before and more of them have the time to consume more so market and stay relevant. Plus, It gives the impression of financial stability. Reassures your clients and partners to stick to you.
Create a Multipurpose Product
If you are fortunate to have a product or service that has multiple use cases you will be fine. For example, a car company like Tesla can go from making Cars to making ventilators. And I’m sure if they were called to make components for military they could. So be agile from now on.
Competition Will Increase
The fact is competition will increase because there’s just fewer good customers or prospects to go around. So if you want to thrive for the rest of this pandemic, please make sure you have the right people on the bus. Not necessarily based on hard skills but great soft skills as well.
Think Strategically
There’s a whole lot of things happening however that’s no reason to not be able to see the forest fire from healthy trees. Your business and marketing strategy will need to step up faster.
Entrepreneurial Culture Rules During Uncertainty
“You better have leaders and managers that are willing to take calculated business related risks and are willing to see this moment in history as obtaining competitive advantage for your team.” says , Emmanuel “Manny” Omikunle of BJ Mannyst “God put us on this planet to grow spiritually, socially, economically, and achieve enlightenment so go forth and prosper”
Marketing Conservatively or Aggressively
This is really up to your organization and your target. I would recommend a healthy-relevant-persistent marketing. Don’t annoy or irritate people. Be a caring friend. Be whatever will represent your company well.
Focus Like You’ve Never Focus Before
The fact is there’s a whole lot of noise from every single person on this planet. The best thing is to focus your resources that will get you the greatest return but allocate resources for experimenting.
Do Quality & Quantity That Works For Targets
Sure you may be tempted to cut corners in your content production just to save money, I will tell you straight-up don’t cheapen anything that will impact you brand image or your brand message. If you’re a consumer of Louis Vuitton hand bags last thing you want to see is poor quality materials or less aspirational images. So find the means to meet or exceed the creative standard or don’t do it at all. Go and stress the value, the difference, the benefits, etc.
MORE BIG PICTURE FYI
Farmers.’Without a large group of workers willing to do very hard, manual labor for very low wages, America’s food supply would — at the very least — be much more expensive. Which means farmers are going into this planting season aware that they might not be able to access the necessary labor come harvest time.”
Airlines.“Airlines operate on very small margins, so they tend to be especially exposed to the shocks of any major crisis. However, even with that in mind, the sudden loss of almost all of their business for an indefinite period of time is the sort of hit that seems impossible to survive.To add insult to injury, airlines can’t even take advantage of the rock-bottom oil prices at the moment.”
Social. The mental health issues post-covid 19 will be high and lingering social anxieties will make normalcy very challenging but not impossible.
Media. Some media industry will be hit hard and might have to find alternative ways to generate revenue in a new normal. Education. Hopefully everyone gets a better understanding of how economics works and how finance works. You may have affordable food, goods because somewhere out there is someone barely surviving to feed their kids.
Malls & Theme Parks. The reality is any facility that depends on volume to survive is not going to see normal volumes. It may be less than 50%.
Driverless Cars. We may actually be getting closer to adoption due to this crisis. In the capitalism world, labour is seen as cost not a person’s livilihood. So every company is aggressively chasing automation.
Nursing Homes. I believe this is going to go through some major changes. I will not explore this other than tell you use your imagination.
Small Medium Business. It obviously will be tough for many to survive this. But I wonder whether people would just try to stay in a comfortable scale of operation or simply close down before they get a chance to begin accepting the public.
Oil. “Consider these statistics. In Saudi Arabia, oil revenues account for 60 percent of the country’s GDP, two-thirds of the government’s budget, and nearly three-quarters of its exports. In other states in the already-turbulent Middle East, including Iran, Iraq, Qatar, and Kuwait, the dependency is greater still.” So expect to see some people from oil nations face some additional tough times until prices goes up..
Jobs. “Overall, 43% of U.S. adults now say that they or someone in their household has lost a job or taken a cut in pay due to the coronavirus outbreak, up from 33% in the latter half of March, according to a poll from the Pew Research Center.” The truth every job seeker needs to know is that companies a motivated to cut cost and to try to do more with less.
Consumers. Every consumer wants to skip mortgage payments, loan payments, rent payment, anything that’s eating at their cashflow and savings. Many people weren’t in a position to even save enough. All the more the urgency to get the economy going again.
Future. What happens in June, July and August? It is a time many will have to adjust a whole lot of things so they an their family can survive.The warning out there is that that consumers should expect a gradual, not quick, rebound.
P.S. If you like this ebook, you will really like - "How to Make Sure Your Ecommerce Succeeds"
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