I believe coronavirus will leave long-term changes in our business environment. I feel that although this has been a terrible pandemic, it’s important to stay focused and keep your company going strong.
Here are some creative steps to help your business fight through COVID-19:
- Gain new customers
As many businesses struggle to maintain normal running operation, this could be your chance to build a new network of prospective customers. Putting in the time and effort now to generate new leads will ensure that you have more customers to rely on. The more you try to attract customers, the more they’re likely to realize that you’re on top of your game and not folding.
- Adapt your services
Many businesses are not able to operate normally, so you must adapt. For instance, we are offering prospects virtual tours of our residential communities through FaceTime. We have also adapted our services for our residents to keep them safe and healthy.
- Is your business essential?
Invest in businesses that are essential and aren’t nearly as affected in this type of situation.
- Be prepared
Setup your employees to work remotely with laptops and Zoom in case this occurs again.
- Change your marketing
It is more important than ever to have a large online presence. Online traffic has increased 30 percent in March as many people are at home sheltering in place and are more often on their computers. This is the largest increase in traffic the internet has ever seen. Ad buys now on Google, email marketing and social media will make money for your brand. For every $1 you spend on email marketing, you can expect an average return of $38, according to Constant Contact Inc. Social media is also a fairly inexpensive way to get brand exposure and doesn’t require a massive budget to reach a large audience. Just make sure you are tracking your marketing efforts to measure the results. While page likes and interaction are great, you need to make sure this converts to new business.
While these steps could help you maintain your business during the disruption caused by the coronavirus, you might find yourself continuing with many of these changes in the future.
Brian Schottenstein is the president of Schottenstein Real Estate Group is one of the largest developer/builders in the Midwest, focusing on residential and mixed-use developments throughout the Midwest and Southeast. It also is the only three-time Developer of the Year named by the Building Industry Association.