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Understanding the effects of COVID-19 on businessess

Without a doubt, the COVID-19 pandemic is affecting businesses, large and small, across the world. The National Federation of Independent Business (NFIB) reported that 92% of small businesses were negatively affected by the epidemic.

It is drastically changing the way we shop and do business—from essential to nonessential items. As safety measures have come into place, many business owners have had to shut down temporarily or even permanently.

Amid the seclusion and ambiguity, we find a drastic change in the way people purchase items. Many buy in bulk to prepare for the worst. There’s an increase in online shopping, as customers feel safer receiving orders at their front doors versus jam-packed stores.

Even before the Covid-19 outbreak occurred, online purchases have become quite popular (Hello, Amazon Prime). It’s just so easy to do a product search, check reviews, then type in credit card info without batting an eye. It wouldn’t be surprising if e-commerce purchasing continues to rise even after the pandemic is over.

Rather than bemoan the shift in the business market tide, why not rise above it?

Maintain your business and thrive

Here are some ways you can maintain your business and even thrive in the face of uncertainty.

1. Create a landing page with a sign-up form to stay in touch with your customers. Share this link across your social platforms or through email.

2. Start an e-commerce site and sell your products online. You could even offer gift cards for buyers to purchase now and use later when life becomes “normal” again.

3. Ignite your social media presence through your platforms of choice. Don’t just start up a Facebook page with a few posts here and there and expect a following. Regularly update and provide new, informative messages that will engage your audience.

Whatever direction you decide to go, stick to the course and don’t give up. Allow this change to grow you and your business. You may have to switch up your online approach a few times before you find what works. Ultimately, you know your customers best.

As Helen Keller wrote, “a bend in the road is not the end of the road…unless you fail to make the turn.”

 

Contact us if we can help you in your online business journey.