How to deal with the Coronavirus Impact?

Businesses have been hard hit by the spread of the novel coronavirus COVID-19, especially since the introduction of containment measures by the governments. Cancellations and postponements have increased and business activity is getting lower and lower - and this is likely to continue over the coming several weeks. In order to overcome this slack period, here are a few tips to adapt your communications and your activity.

DATE 10 April 2020
Take the opportunity to work on fundamental business matters

Perhaps, you have been thinking for sometime about launching a new offer, upgrading your website, rethinking your communications, improving your branding
Take the opportunity to work on these aspects that often get put off due to lack of time!

Get closer to your prospects and your clients.

Although it is not the best time to sell, with most company budgets frozen, it is a good time to get closer to your prospects and build customer loyalty. Communicate regularly with them, propose an adaptation of your services, and start planning with them for the next few months.You could even offer special discounts on your services to reward your most loyal customers, or to attract new prospects. Try, as much as possible, to offer different options in order to minimize postponements and cancellations.
Mutual assistance is a value to be developed, whether with your colleagues, customers or partners, in order to get through this coronavirus crisis.

Think now about adapting your offer

The day when we can return to normal is still unclear, but it is important to think about adapting your offer now to be ready. This takes time, but that is something you will have in the coming weeks! For instance, if you have a business and don’t sell online yet, now is the time to get started. Without even launching an e-commerce site that can take several weeks to set up, you could still start by taking orders by email or via your social networks. Or, if you do coaching or training, perhaps it’s time to create your online training. These are just two examples, but generally speaking, you can use these current constraints to create newly adapted services. It could be a great opportunity to try something you would have never tried otherwise.

Adapt your communication

Despite the decrease in business activity, it is essential to maintain regular communication. Inbound marketing, SEO, email marketing and social networks will be your best allies. And even though social networks are currently flooded with information related to COVID-19, at some point people will need to move on. Try to stand out with original content. Take the opportunity to communicate regularly across all your social networks. Remember, many potential clients are isolating at home and are likely to be connecting to social media much more regularly.

Adjust advertising budgets

Depending on your activities, adjust your advertising budgets. For certain activities that have become impossible with containment, it makes sense to reduce your budgets. If Google Ads campaigns can be easily cut without impact, do so, particularly on your Facebook Ads campaigns. Indeed, the algorithm of Facebook does not very much like stops and resumptions of campaigns.
On the other hand, if your online activity allows you to bounce back from the situation, take advantage of it to maximize your budgets. Competition will decrease and so will prices, since most advertising platforms are based on a bidding model.

Check on government support for small and medium-sized companies 

Some governments, such as the French government, have put in place measures to support businesses, such as reducing charges or postponing payments. Find out more from your government and contact the appropriate services. It could make a big difference to your cash flow during these difficult times.

And be optimistic

During this period, which is affecting the entire population, it is important to stay optimistic! Take advantage of this containment time to rethink your communications strategy or to improve your branding to be prepared for when business can resume. After the significant drop in business activity caused by the coronavirus, it will be important to get back on track as quickly as possible to make up for the lost weeks. Prepare now for the recovery and be creative – or surround yourself with creative people!

Good luck in these complicated times, take care of yourself and others.

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