According to the National Federation of Independent Business (NFIB), 92% of small businesses said they had suffered adverse effects due to the pandemic. Only 5% of those companies surveyed reported suffering no consequences.
If you are like most companies, you have felt adverse effects from the pandemic.
Perhaps you have experienced a slowdown in customer demand for your products or services. Maybe your company is dealing with changes in your customer’s expectations. Most companies are dealing with operations challenges because of health and safety restrictions.
Economic recovery will take time; you must formulate a plan and get started to lessen the financial impact and speed up your recovery.
Spike SanteeThree Ways to Rebuild Your Business After COVID-19
It is four o’clock on Friday afternoon. Your traffic manager about to quit because copy for Saturday’s log still has not been turned in. The salesperson cannot be found. You are about to lose revenue on your best client because the copy is missing. Worse yet, a missing commercial is a chronic problem on Friday. You need an answer and you need it fast!
I first met Brad when he was advertising for his floral shop on the local Radio station. On my first visit, I was surprised to find such a prolific floral shop in the back of what appears from the street to be an interior design store. Brad wanted to know the secret to advertising success.
David Bowie (1947 – 2016) was a British singer, songwriter, and actor. In his hit song from 1972, Bowie sings, “Ch-ch-changes, turn and face the strange. Ch-ch-changes, just gonna have to be a different man.” Bowie was known for his chameleonic personality, always changing his looks and musical style. But the timeless lyrics of Ch-Ch-Changes represent a rallying cry or a call-to-action for people in the world of COVID-19.
On Monday, August 10, 2020, on CNBC, Mohamed El-Eriean, Chief Economic Adviser at Allianz, a world leader in financial services, warns businesses that there is no magic bullet for doing business in the age of the COVID-19 pandemic. The new normal is here now.
“We are here for you during this pandemic,” is a common phrase used in many advertisements. What does that mean? In most cases, it means they are open for business but practicing safety measures and social distancing. If you are in B2B sales, instead of just paying lip service to “being there for your customers,” here are twelve easy things you can do to help your customers right now.
Spike SanteeTwelve Easy Ways to Support Local Business
Dan was considered a successful salesperson. He had an extensive list of customers and significant annual billing. Dan’s clients liked him because he always got them a “deal” with his company. Like most salespeople, Dan saw a dramatic drop in his business when COVID-19 hit. March was rough, April was terrible, and May looks awful. Recently, Dan learned that his biggest customer was now buying from Dan’s competitor. When he called to find out why the customer said they were making new plans and felt like the other vendor was more focused on their unique needs.
Effective advertising is measured by customer engagement. Your brand must engage with customers on an emotional level to create a meaningful and profitable relationship. The international restaurant chain, Denny’s has decided to play games with their marketing and it is a big winner!
History shows that pulling back or canceling your advertising during the COVID-19 pandemic will cost your company more in the long run than what you think you are saving in the short term. Finding the strength, and the money, to stand firm in the face of economic decline is the challenge. Developing the right message is essential.
Despite reports over the past few years about the benefits of working from home, the current effort to maintain productivity by working from home during the pandemic could backfire and generate a productivity slump that threatens economic growth for years to come, says Stanford economist Nicholas Bloom.
Spike SanteeFour Keys to Productively Work From Home