Due to COVID-19, life has been incredibly stressful for much of the nation, particularly in regards to work. Many people have found themselves out of it – temporarily or otherwise – while others have been overworked trying to meet the incredible demands of their industry.
But not all have struggled through the trials of this pandemic. Plenty of businesses have managed to keep themselves going over the last year, with some even thriving despite the circumstances. How?
More Innovation
Businesses are everywhere nowadays. In 2020 alone, there were over 800,000 entrepreneurial endeavors less than a year old, which is several hundred thousand more than there were a few decades ago. With this amount of competition around, being innovative is essential. If you can’t find ways to set yourself apart from the crowd, there’s always a risk that you’ll disappear into it.
That’s especially been the case over the last year, as businesses have found that innovation can make all the difference between whether they sink or swim. Industries that have been hit particularly hard by the pandemic, such as hospitality, have found this to be significantly important. For example, hotels are offering “work away from home” packages at affordable rates, or many restaurants turning to offer delivery services, whereas before, they only provided their food on location.
Obviously, innovation isn’t without risks, especially in situations like the one we’re in now. However, not thinking outside the box and finding creative ways to expand your business is potentially even riskier, given what’s happening in the world right now.
Better Customer Care
Customers and clients are essential to any business. Not only do they provide the money that keeps the venture going, but their opinions can also shape whether or not you maintain public approval. A few bad reviews from upset customers can put a business at risk especially if their critiques gain traction on social media.
Keeping people happy isn’t something new to the pandemic. However, it’s certainly taken on new importance since the COVID-19 virus came along. More than ever, people want to feel like they’re being catered to because so many of them feel stressed and depressed by what’s happening out there.
Connecting with customers isn’t that difficult, with some businesses managing it by reaching out through email and other communications. Others have tried offering helpful services for those struggling in the pandemic, whether that be emotionally, mentally, or financially. Despite the virus isolating so many people, there’s been a real sense of community lately, thanks to the work of these businesses.
Smarter Advertising
Advertising is what every business relies on to build its customer base and ensure that sales are always on the up. How they achieve this varies, with social media, display ads…etc all playing a part in getting the word out there. In the middle of a pandemic, though, finding the means to really make the advertising count has been more crucial than ever.
With businesses eager to create a strong digital footprint and keep themselves afloat during such trying times, the internet has been saturated with ads. Those that have really stood out, though, are the ones using programmatic advertising.
With a combination of human expertise and intelligent machine learning algorithms, programmatic advertising is able to pinpoint precisely where and when you need to reach your target audience. The hyper-targeting approach almost guarantees the most qualified leads that are likely to convert to sales, which is why this form of advertising has been so crucial over the last year.
To adopt this smarter approach to advertising, it’s worth visiting the advertising experts at www.warroominc.com. With a greater reach than most of their competitors, you stand an excellent chance of building your customer base quite significantly and driving great conversions. Plus, all campaigns are based on extensive research and analysis of your business, with optimizations made in real-time. Through this, they ensure that your ad potential is maximized, which is exactly what you need to succeed.
Increased Streamlining
Businesses can always do more to ensure they’re running efficiently. As processes are improved, work is done quicker and more effectively, which saves money and effort. In times like these, such essential resources are worth holding onto as closely as possible, so anything that can help in these areas is vital.
Obviously, given the current situation, profits aren’t something that a lot of businesses are making right now. So, for those struggling to make ends meet, sometimes the best thing to do is improve finances by saving money, rather than putting everything into increasing sales. If your industry is one that’s suffering greatly because of the pandemic, then generating business might be a hard task. By streamlining, though, you remove some of that pressure and ensure that operations are still running by the time the virus becomes yesterday’s news.
How best to streamline a business generally depends on the industry involved. For instance, when it comes to fleets, it’s best to incorporate management software that can help organize route planning, reduce fuel costs, and improve driver performance. All these elements combine to ensure that deliveries are faster and better structured, which does excellent things for costs.
Active Fundraising
Evidently, the most important thing to businesses over the last year – and in general – is money. Without adequate funding, a venture can’t continue, which is why smarter advertising and increased streamlining of operations have made such a big difference recently.
These aren’t the only ways that businesses have managed to bring in money and thrive during the pandemic, though. Plenty of smaller endeavors have turned to fundraise, either through the public or venture capitalists. In doing this, the hope has been that a little extra help will ensure continued survival.
The success of this has depended mainly on how established a business already was before COVID-19. Or, in some cases, how important the products or services it provides are for the general public. If a venture offers something that speaks to many people, then customers will likely be more inclined to spend extra money their way. Even if it’s only $5, that still equates to a lot if, say, 1,000 people, all followed suit.
Greater Attention To Detail
Sometimes, the little details aren’t considered that important in the grand scheme of things. Recently, though, the reverse has been the case.
In an effort to stay on top during the pandemic, some businesses have found that focusing on the smaller things has really made a difference. Part of this comes back to saving money and fixing issues that are tiny but which can lead to big expenses. It’s also about ensuring that minor errors or oversights don’t hinder the customer experience and potentially ruin a sale. Every transaction is essential right now, so ensuring each one goes off without a hitch is pivotal.
It’s unclear exactly when the pandemic will be over, so right now, there’s still significant pressure on businesses to weather the storm. For the best chance of doing that, it’s worth learning from those who have thrived over the last year and following their lead. It’s the best chance you have of guaranteeing you’ll make it out the other side.
