Small businesses are essentially the heart of the U.S. economy. With the shut down of the country to mitigate the spread of COVID-19 countless small businesses have taken major hits. Many are struggling to stay afloat, some have closed their doors for the last time, some have kept their head just above water, and others have prospered in spite of the pandemic.
Recently there has been a lot of discussion about reopening the economy. While this will be a good thing overall for the economy it presents a new and unique set of challenges for small business owners that have been left staggering from the impact of the shutdown. Many are experiencing uncertainty, instability, and high turnover among other things.
Whatever the case may be here are 5 tips to help your business rebound for the reopening of the economy:
- Think of what clients need in this new environment.
- Engage in Networking.
- Advertise your Business.
- Plan Ahead and Start Early.
- Create an Irresistible Offer.
What do clients need in this new environment?
The environment has changed from the pre-COVID-19 world we once knew. There have been many side effects from the shutdown ranging from family disputes, to physical, mental, and emotional issues created and/or exacerbated by isolation and/or extended lengths of time indoors. The financial impact also can’t be overlooked. It may have some individuals on the brink of eviction, struggling with expenses, and some others may be rolling along with businesses with minimal impact.
It’s important to be considerate of the fact that not everybody was able to receive the level of assistance they needed from the 2020 stimulus package. You may need to be creative and flexible during this time to successfully maintain your business and effectively serve your clients and potential clients.
Be “You Centered’ by taking the time to think about what your clients and prospects need at this time. Does your current offering still meet their needs? Have the needs of your target market changed with the current environment? What can you do to meet their needs better? Revisit your S.W.O.T. Analysis and determine if now might be the time to change or enhance your offering to meet the needs of those you serve.
Engage in Networking
While it will still be important to follow the rules and maintain appropriate physical social distancing it will be very helpful to keep networking whenever possible to make new connections and be accessible for new opportunities. Do your networking online when you can. Join a Skype or Zoom networking event held by reputable connections/organizations.
Embrace the change, and think of ways to make it work for you and your business while serving others. Remember that sharing is caring and it can help build value. Have you obtained valuable information on some of your networking calls or on a training call? Could you share that information and help other business owners? Gain trust and build relationships. One way to do that could be to share valuable information you’ve obtained that may help someone with their business.
Advertise your Business
The best way to get the word out about your business is to advertise your business. In these uncertain times, no one will know what your plans are with your business until you tell them. Potential clients won’t know if you’re opening for business again or not once the economy reopens unless you tell them.
Online advertising can be very helpful particularly social media which can be powerful and can be used strategically to get a lot of exposure. One strategy could be to partner with a social media influencer with an audience that matches your target market to advertise your business. Another idea is to create an affiliate program to offer your product or service that will provide commissions to all those that sign up and sell your products each time they make a sale. You can also buy ads online, offline, make sales by word of mouth, work with niche-specific bloggers, and use countless other methods.
The important part is to take action. Let people know that you will still be in business, and look forward to serving them. It’s better to scream from the proverbial rooftops that you’re back in business than to quietly resume your business and run the risk of your clientele being completely unaware of your business resurgence and having to close your doors later because “business just wasn’t the same after the shutdown.” That would be tragic which leads to my next point.
Plan Ahead and Start Early
It’s important to plan ahead. There are many factors to consider and one of them is now may be the time to look at implementing a more effective and aggressive marketing plan than was even in place prior to the pandemic. Depending on where you’re located there may be uncertainty on exactly when all businesses are allowed to resume full operation. If your business is currently one with an uncertain restart date don’t wait to start planning your marketing strategy until you know for sure what the reopen date may be.
You can get ahead by planning your strategy and letting your customers and potential customers know that you will be reopening whenever the time comes that you’re allowed to. This puts everyone on notice that they can count on getting your products or services again once the economy resumes. There will likely be lots of advertising once things restart and your advertising may or may not stand out in comparison to your competitors, but you can greatly increase the chances of standing out if you get ahead of your competitors by starting now.
Create an Irresistible Offer
Be sure to create an irresistible offer. Create a product and/or service package that is so good that your target market will feel like they MUST have it! It could be a product or a service, but it’s best to bundle multiple items in your offering to give your prospect/customer value overload.
Tips for creating an irresistible offer:
- Identify a prospect pain point
- Grab the prospect’s attention with a question about the pain point
- Ensure the offer is bundled, has massive value, is discounted properly (if needed)
- Make the offer easy-to-understand
- Include a timeline to achieve results and/or create a sense of urgency with a limited time offer.
- Have a simple call-to-action.
- Create simple steps as you move your prospect through the value-ladder.
- (Test and tweak your offer as needed).
- Reduce risk by including a guarantee and/or warranty if possible.
Those are 5 tips to help you on your journey to rebound from the shutdown. I’m confident these tips will help your business if implemented properly. If you have any questions feel free to reach out.
Are you frustrated with the impact the shutdown is having on your business? Would you like a solid plan to bring prospects to your door when the economy re-opens? Request a quote here: click here to request a quote and we’ll follow-up within 1 business day. Request a lead generation quote before the end of April 2020 and we’ll provide you with a complimentary consultation and quote. Also if you sign up for our services before the end of April 2020 we’ll include a 25% discount on the first three months of lead generation services. You will receive targeted qualified leads in your package. Don’t miss out. Request your quote today.