Covid-19 - 20 Jul 2020
Getting Your Business Ready for the COVID-19 Recovery
Earlier this year, COVID-19 forced the Canadian economy to essentially shut down. However, as society becomes more accustomed to social distancing practices, it’s time for you to start thinking about getting your business ready for the COVID-19 recovery.
If we’ve learned anything from the past, it’s that tragedy doesn’t last forever. The aftermath of catastrophes such as the 2008 financial crisis or 9/11 have proven that there is light at the end of the tunnel. In the case of COVID-19, it’s never too early to begin considering what you can do to prepare your business for the eventual reopening of the Canadian economy.
Identifying Different Ways to Assist Clients and Customers
While many business owners will be taking this opportunity to focus on their own businesses and short-term strategies, we recommend you think about what your clients are going to want or need when life becomes more normal.
While you can brainstorm an endless number of possibilities as to what your client might want, it’s a good idea to contact them directly and ask what you can do for them, so that they can be adjust to the changing situation. By doing this, you can improve the relationship with your client, showing them that you are thinking about their future. Additionally, having this conversation now will give you the edge over your competitors, who will be panicking to create new market promotions when time is of the essence down the road.
Begin Campaign Planning Now
Currently, many individuals who would normally be extremely busy with work are sitting at home waiting for life to return to normal. As the economy comes back to life, you may find yourself in an incredibly busy state once again. Therefore, it is a smart idea to take advantage of the downtime currently experienced by so many people and businesses and stay ahead of the curve, by reaching out to your audience now.
Be Wary of Recent Societal Changes
Although we hope that once the economy fully reopens life will revert to how it was a year ago, this may not be the case. Companies may continue to use video conferencing, promote a work-at-home environment, and continue to practice some health and safety behaviors that have been implemented throughout the crisis.
If you haven’t yet embraced some of these societal changes, it’s time to start thinking about how you can implement them within your own business. You’ll find that they keep your employees safe while also being efficient.
Tailor your Marketing Campaigns to the Economy
The economy is gradually reopening, and some businesses are doing extremely well during COVID, while others have essentially halted all operations. This is important to consider, as you can analyze the market trends and identify what areas of your business are likely to be in demand shortly. This will help you reallocate staff and resources, and better predict what kind of traffic your business will be receiving in the short term.
By being smart with your decisions now, your business will thrive as it resumes more regular operations. Recognizing that old habits may not work in today’s economy is the first step in ensuring that your company is successful as the economy continues to reopen.