MOVING FORWARD AMIDST A PANDEMIC: SURVIVING STRATEGIES FOR SMALL SCALE AND LOCAL BUSINESS

It will be unarguable to say COVID 19 has changed lives. We have witnessed changes in health, finances, employment, and social activities of the world at large. While quarantine and lockdown regulations around the world are gradually being relaxed, the uncertainties and novelty of this disease pose a risk of its resurgence resulting in possible future lockdowns or prolonged social distancing rules.

With shops being closed, people staying and working from home, and avoiding social places as best as they can, there is a huge implication on businesses especially local and small-scale businesses. Consumers are turning to online markets to address their needs while keeping their expenses to the bare minimum depending on necessity and the ease of acquiring products amidst happenings. Hence increasing online transactions and activities. 

Resultantly, more than ever, the ability of firms to provide value to customers online is currently a great source of competitive advantage and its benefits will linger. This is because, while this era of high digital transactions was destined to happen, this pandemic has accelerated the change, making it happen sooner than later. 

The Habit of Online Shopping

Market research reveals that, online purchases, product views, and new email sign-ups have increased year over year for online retailers since the coronavirus pandemic swept the U.S.

Despite the fact that the need to shop online for most products was highly necessitated by outdoor restrictions, the act of online transactions over time becomes a habit incited by satisfaction and ease. Hence any investment by businesses to facilitate online transactions are not in vain and have not been fully realized yet as it will continue to pay off. And while no one does hope for another pandemic, it is important for marketers to work on balancing their activities and positioning themselves to benefit from the ongoing situation and its aftermaths. Businesses need to invest in boosting their online presence and improving the online shopping experience for consumers, giving them some normalcy as they adjust to this “new normal”. 

The aftermaths of the pandemic will reward business who stayed relevant to their consumers during the hard times. Hence the need to adjust strategies and improve the online transaction experience for customers goes beyond being in business during this pandemic but staying competitive after the pandemic.

    

   The following few steps small scale and local businesses to consider in improving their online presence and experience for consumers. 

1.      Redefine Your Business, Budget, And Plan For Online Expansion 

Evaluate how the ongoing situation has affected your business and what changes you can make to better serve your customers. Analyze how online stores fit in your business plan and how it can help you win now and in the future.  Also, assess your customers’ behaviors, how sophisticated and flexible they are, and how they will react and contribute to change.  

Form strategic partnerships with other businesses and players along your supply chain to enhance the value you provide to consumers. Look for points of mutual benefit, and leverage on these points to maximize benefits for all parties. 

Keep track of your budget and streamline marketing strategies and other expenses to those that are relevant to the current situation and progress of your business.  

The goal is not to compromise your brick-and-mortar business when the world fully opens but to strive for a flexible balance that will help you maximize value for consumers at every point in time.

2.      Improve Website Ranking (SEO)  

Just as people drive around the block and discover new eating places or craft shops, people are going to increasingly trust and rely on google and other search engines for suggestions on getting their products. Businesses should, therefore, work on ranking well on search engines in searches related to what they do. 

In so doing, assess your online presence and the progress of your competitors and strategize accordingly. Clean up your website or build a functional one, use the right keywords in creating your site, and pay attention to other SEO strategies to protect your brand, and get the most of website traffic to your site.

3.      Communicate with Your Customers

With people largely keeping spending to the minimum, it is important for businesses to identify and communicate the value their products provide and who it provides the value for. Be clear in specifying how your product is a necessity and what value it can provide give to consumers. Communicate any alternative ways of using products to better serve consumers given the current situation. 

Inform your audience of changes you have made towards enhancing their online shopping experience. Utilize social media; post ads, post engaging content, and monitor user activities to better position yourself and popularize your brand. Encourage feedback not only on product satisfaction but on the transaction process and work on eliminating the pain points identified by customers.

4.      Adjust Your Marketing Mix

We are in unusual times and change is imperative. Businesses should, therefore, look at what changes they can make to their marketing mix; products, prices, promotion, and place to provide more value to consumers given the current situation.  This is the time to consider rolling out the discounts and promotions you have been planning towards. Are you a clothing shop? Make matching and fancy masks to ensure their clients are protecting themselves with glam! 

Find ways to stay relevant to your customers now and rest assured it will be a rewarding move in the future.