Rebooting your Business in 2020- Post COVID-19 Lockdown- 8 Points to remember!
Updated: Jun 4, 2020
How to emerge victorious during the ongoing COVID-19 Crisis?
Consumer behavior is never going to be the same again, not at least in the near future. With the changing consumer behavior patterns, it is very important for the business community to rethink on their age-old traditional business practices. We cannot shut our business down completely, nor can we wait for the situation to improve. What we can do is to implement the best practices and find innovative modern techniques in engaging with your customers. The World is changing, you need to change with time as well shedding traditional methods and implementing modern methods of doing Business.
Here are 6 points you should remember while rebooting your Business in 2020
1. Plan Well
2. Build Trust
3. Be a good listener
4. Give a Sense of Security for your Customers
5. Increase Demand
6. Digital Transformation Know How
7. Cut Cost- How will you cut your expenses? Know how
8. Your Pricing- Make it look cheaper and focus on volume
Plan Well: Focus on planning. Define your Business, Know what your doing and where to start from and know where to end. Be very specific about the goods or services you will be providing to your Customers. Understand your business location and how you could bring the customer to your location or think of ways how you could reach your customers in their comfort zone. Take opinion, Don't rush to conclusions, Listen to experts and make the right Decision.
Build Trust: Always be honest towards your customers and your customers' in-turn will be loyal to you. Try to win the hearts of your customers, this will pay off. The more you engage with your customers and give them a sense that they can trust you, they are going to remain loyal to you, listen to your honest recommendations, your feedback. This way you will get more referrals, which means more returning customers. Sounds good?
Be a good listener: Pay attention to what the customer is saying Don't be stubborn, and don't be shy to learn from others and implement all the good things. Listen to what others say, even if they are irrelevant, this will help you to respond positively.
Sense of Security for your Customers: Maintain a clean environment and make sure your employees follow the same level of hygiene at all times. Your Customers should feel they are into a safe environment before even they enter your premises.
Increase Demand: Be very cautious about the Product or services you are serving society with. Create demand of your products or services. Always remember the demand for your products and services will not come to you you would have to create them yourself, How? Prioritize the right kind of products and services and customers on how best you can provide them keeping safety and hygiene in mind.
Digital Transformation: Think digital! Find ways to reach your Customers online. Take your products and services online and let your portal do all the talking. If you are doing a business locally, going online will take your business global, thus increasing your chances of higher profitability. Know How
Cut operational Cost: Bring in automation and implement them, never hesitate to do this, this will not only save your money but also save lot of your time, and do you know what that means? It means you can invest the saved money into something more meaningful and possibly generate more in revenue, secondly utilize the saved time into something more productive which in turn will help you complete more task and increase the chances of earning more revenue. Choose the right technology, learn from others, learn from your past mistakes and don't hesitate to admit them and make sure you are correcting them. Take opinion, Don't rush to conclusions, Listen to experts and make the right Decision. Talk to an Expert for Free
Your Pricing: Nearly 70% of the population will cut down their discretionary spending by almost 50%. You need to rework on your pricing and make it look cheaper for for prospecting customer and try to sell volumes.
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Remember, for every problem there is a solution! and if you happen to find a problem for which you think there is no solution, then don't let the problem bother you any longer.
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