Wuhan was the apocalyptic scene of a contagious virus that “emerged” to spread rapidly around the world. He contaminated entire populations, traveled long distances and eventually reached the wobbly global economy, collapsing the world’s bags, playing at leisure with exchange rate parity and destroying the usual cycle of buying and selling items for most industries.
We have been bombarded with prevention and basic care measures so as not to catch us, but it seems, that no one is contemplating these same care for business entities and preventing the spread of a global recession.
Dear reader, if you have a pharmaceutical company or sell disinfection items, this item is not for you. If, on the other hand, you have seen your sales decrease considerably since this phenomenon started, I invite you to read on to delve into different points that will help you stabilize your sales and keep your economy as stable as possible:
1. Control fear
Before lowering the curtain of your company, fear for your life and believe everything that comes to you by chains on Whatsapp, calm your mind and, with a cold head, focus on the next point.
2. Assess the situation and decide
Start with the assets you have, see your company’s liquidity, what resources it can exploit optimally and most importantly, go to your computer and start querying the data and analytics that will give you real information about what your target is looking for. After this, make decisions about which brand or product to focus your efforts.
3. Digital Transformation
If you don’t have an online sales site or a website, start today, don’t waste a second. Due to the mandatory stay at home by almost the entire workforce, online orders and purchases have skyrocketed. Think about this: you have a new behavior in the market and customers eager for innovation, do not miss the opportunity.
It sees this measure as a medium- and long-term effort, that is, it is not just a momentary solution but an alternate channel that came to stay and be developed.
4. Segment and loyalty
With the analytics data mentioned, it segments digitally, opens ways of communication with your client, improves their experience and above all, loyalty. Currently the 95 of the companies whose technological approach (platforms and tools) is directly related to the customer, have not been affected in their sales by this crisis, since they give their customers exactly what they are looking for. The problem is that only a 2 of the industries(1) is at that stage of maturity.
Pre-analyze your liquidity to find out how much money you have. Many companies fall into the mistake of cutting spending in areas such as human talent, operations and worse, in digital strategy efforts when it must be the opposite, as this is the key to getting ahead.
Use your money wisely in developing an e-commerce (if you don’t have it), improve your payment options, give yourself the time to finally fix the topic of home shipments, optimize your platforms, get licenses that allow you to improve your metrics and generate insights, seek expert advice if you require it. Think about developing your SEO positioning, get trained and certify in the tools that Google has (most are free). Accumulating knowledge and applying it will allow your company’s digital transformation to be more agile, durable and cost-effective.
The most important thing to keep you selling and not being affected or affected by the global situation is adaptability. Consumption habits changed, as well as the channels and type of product or service offered. The prevailing question is how long will this measure last? Is it an endurance race? The answer I can offer you is that if you learn to digitize your business, the question becomes irrelevant.