ARE YOU PREPARING FOR A BUSINESS COMEBACK?
When there is a business halt, are you preparing for a strong comeback or sitting paralyzed in the silence? Because business owners are fearful of what is to come next, we often will sit back and do nothing. A business may never return to the way it was and just like the businesses that failed to embrace social media, those that choose to stand still and do nothing will lose.
Savvy business owners are taking this time to think of the future and what new lines of business or target clients they want to reach out to. Should their sales pitch change and if so what would that look like? Will the presentation desk, social media channels or website need updating? How will these changes impact their sales staff and will they need retraining? Could staff training be done remotely while the sales force team is working at home?
Try to work down the line deals. Now is the time to negotiate. If your conference has been canceled, negotiate rates on a tentative date to rebook the conference in the future. Pass along the savings to your customers to relaunch a successful event. Instead of doing nothing, you’ve become a problem solver.
If your fundraiser was postponed, can you create a go-fund-me campaign or an online event? There is so much need, you want to be certain your mission stays top of mind.
Meet your customers where they are. Yoga studios and gyms are providing online classes with instructors via Zoom and staying connected to their tribe through private Facebook groups. Chambers of Commerce are offering free classes on how to use Zoom. Restaurants have shifted from dine-in to take out and brick and mortar stores have opened on-line stores. Think about it. They have provided a solution to our present-day situation that could result in an additional revenue stream in the month’s ahead post COVID-19.
Barbara Corcoran, self-made millionaire, real estate mogul, and ‘Shark Tank’ star believes there is great opportunity in every crisis. She has survived 9/11 as well as other critical times in her business. “But here’s what I’ve learned on all these crises through all the years, Corcoran recently shared on her Business Unusual podcast. When things go south, they come back like gangbusters.”
About the author: Autumn Edmiston is the CEO and owner of the Edmiston Group. The Edmiston Group is a multifaceted Pittsburgh based marketing consulting firm providing senior-level marketing management services to businesses and non-profit organizations on a short or long-term basis. Core areas of service are business development strategies, website creation and management, social media management, marketing, strategic planning, and public relations. The Edmiston Group has consistently delivered and implemented real-world, proven business marketing ideas and strategies for business.