Small Business & How to Handle The Impact of Covid-19

This morning I have had numerous phone calls and emails from clients with fear but mostly frustration around the impact of Coronavirus on their small business. With a lot of our clients in the wellness industry, they are concerned about how their services may become obsolete for some time as people practice social distancing.

I am writing this article with full transparency and honesty as this will be a time where you can choose to sink or sail through the storm.

As much as I hate to write this, it has been forecasted that the next 6 months will be very tough for Australian businesses, however, we have been brainwashed with fear and vulnerability via media coverage. I certainly understand the severity of the COVID-19 virus, however, I think the media has been a negative voice to society.

Because of this, it is said that 80% of people will flock and follow suit in fear and the other 20% will carry the country, they will keep moving ahead, building their businesses, they will look for opportunities, ways to pivot their business and support our community.

In a time like this, it is when the successful become more successful – where they act fast and remodel their business to support such a crisis and change in social behaviour.

WE ARE SHARING WITH YOU THE 6 STEPS YOU NEED TO DO IMMEDIATELY TO TAKE ADVANTAGE OF SUCH A TIME:

1. REVIEW YOUR BRAND

As suppliers and manufactures may be on hold and remote working is put in place, now is your time to review your brand. It is a time where competition between large and small businesses will be reset, it will become an even playing field again. This as an opportunity to build a strong brand with trust from the Australian community, a voice that shares hope and leadership rather than fear a hysteria. Look at your brands current make-up and ask yourself the below questions:

1. Does my brand look and feel professional – where online users will feel safe to interact and purchase from my brand?
2. Is my brand’s identity up to date; have I innovated like my competition?
3. What are my Brand’s strengths and how can I use these to increase business engagement?

2. INCREASE YOUR ONLINE PRESENCE

Imagine what position everyone would be in right now if the internet did not exist? Think about it, we are in such a great position to keep moving ahead because of digital capabilities. Digital allows businesses and individuals to communicate, sell, build communities, host live events and deliver a service or product all from behind a computer screen (or smartphone).

This is a time to make the most of online and pivot your business to have fewer overheads, less timely tasks and instead have:

– A far bigger audience to engage with

– Save time and manual labour by automating online

– And have a trusted online space where your consumer can engage with your brand from the safety and comfort of their home.

In doing so, it is recommended that you review your business’s website and make sure that your brand messaging, google listing, mobile responsiveness, products, services and shipping terms are all up to date.

3. LOOK FOR THE OPPORTUNITY WITHIN YOUR SERVICES AND PRODUCTS.

A friend called me today in utter panic as her husband had just got a job as a personal trainer at a local gym, only to hear today that the gym will be closed indefinitely. My first thought was WOW, fantastic – what an opportunity for him to do his own business where he can virtually train via online webinars or offer a mobile service or even hire out gym equipment.

With gyms closed and health being such a big priority at the moment the opportunities and demand are at his fingertips.. if he acts fast and listens to his consumer’s needs and problems then he has the opportunity to build a thriving business.

Ask yourself, what is your opportunity right now and how can you make your consumers feel safe through providing your service and products with a new approach.

Below are a few things to think about:

1. Can you sell products online?
2. Can you sell services online – offering a virtual method?
3. Can you build a passive income online via an online program, masterclasses, ebooks, monthly service of product subscriptions?
4. Can you offer a ‘mobile’ option for your business?
5. Can you build an online community for affiliate marketing?

4. BE SOCIAL ON SOCIAL MEDIA

If not now, when?

With social distancing it’s human nature for people to fear away from shopping centres, cafes, large events and spaces – it is a time where our community will become reliant on communicating via smartphones and social media. Social media is a platform for your brand to have a voice, to showcase inside the brand, to share and build a trusted following who choose your business over another.

It is a time where large and small businesses will feel less disjointed, where business hierarchy will reset and become more even across the board. In this case, to be heard you must be active on social media, now is a time to raise your voice as the playfield evens out.

If you want to increase your social media I highly recommend scheduling posts and content via Tailwind and if you want a strategy that will increase your following and audience interaction then please do contact us! [email protected]

5. INVEST IN MARKETING WHEN EVERYONE ELSE IS TOO FEARFUL

As a branding agency, we have a lot to do with external agencies too and reports are that some of their clients are pulling back on marketing, unlike our clients – the brave ones who are ready to thrive!

With businesses putting a stop to online marketing the competition in ad positions and impressions has weakened, meaning that some brands are experiencing a much higher Return On Investment!

• Tip: Don’t jump into online marketing because you may have a chance for cheap ROI because without a well thought-through strategy and campaign approach it can do quite the opposite.

If you want to talk about your online strategy and marketing approach please send us an email here: [email protected]

6. BE TRANSPARENT

Lastly, remember to be transparent and honest with your clients/customers. We are all in the same position and there is no need to hide that your stock may be held up, your services are body-to-body contact, that you may have to work from home – be honest, have the discussion because through discussion we learn as businesses what our ideal client/customer is seeking. We hear their current problems and as a brand, we solve their problems. Now is a time to connect and innovate!

We are so lucky today with the virtual world and online capabilities, I want you to see this as an exciting time to innovate, to pivot, to systemise and to grow your business. Take it as a blessing to reset, rediscover and redirect the future of your business.

I have so much more I want to share with you and I am thinking about hosting a live Zoom webinar with my clients and small business owners to come together as a community, get access to me and brainstorm the new direction for your business.

If you’re interested let me know below!