Back in January, the majority of businesses ambitiously planned for the new year. But by March, it became clear that this year would be anything but predictable. Unfortunately, the COVID-19 pandemic negatively impacted on businesses of all types and sizes around the world.
Additionally, most governments implemented strict stay-at-home orders, which caused businesses to suffer even more.
While some businesses went remote, others were unprepared or unable to make the shift. With consumer demand drastically dropping due to reduced income, countless businesses began to go under and governments began to prepare for a recession.
If your business is still in operation despite all the chaos of 2020, you’re probably still going to have to put in a fair amount of work to bounce back from the pandemic. As restrictions are slowly lifted and operations return to normal, these five business hacks should help you along the way!
1. Increase Cyber Security
If you haven’t increased your cyber security yet, now is the time to do so. The pandemic has seen cyber attacks on small businesses skyrocket, as cyber criminals are aware that most businesses are still learning how to operate remotely.
Training staff on cyber security and using a reliable IT service to monitor cyber security has become an absolute essential for all businesses. Focusing on this area helps to protect your customers, your staff, and your business from data breaches and criminal activity such as identity or financial theft.
2. Move to the Cloud
Another step that you can take to ensure digital safety is to move all of your data to the cloud. This is a step that many businesses have been taking in recent years anyway in order to move away from traditional filing and tangible forms of data storage. Moving your data to the cloud protects it from theft, disorganization, and other forms of loss.
Additionally, storing your data in the cloud ensures that your remote staff can easily access any information they need while maintaining security and promoting collaboration.
3. Redesign Your Online Space
Sure, you might not be able to operate on a face to face basis throughout this pandemic, but you can still make sales and generate a profit online. Chances are if you sell products online, you already have a decent online presence for your customers.
If you have a more physically-oriented business such as a restaurant, you can still benefit from creating or redesigning your online space. Use your website as a platform to offer alternative services such as takeaway and delivery, and to keep customers updated on your business and its progress.
You can use this space to keep people engaged with your brand and to make announcements regarding reopening as restrictions are lifted.
4. Start a Sales Promotion
In order to make it through this pandemic, sales and leads should be the utmost priority. However, it’s also important to bear in mind that people have limited incomes right now. Many have lost their jobs or feel that their jobs are unstable while others are operating on a reduced wage to keep the jobs that they do have.
Unsurprisingly, most potential customers are reluctant to spend money on non-essential goods, or simply don’t have as much disposable income as they are used to having. Running a sale or other form of promotion with discounts can entice customers to make purchases with you. As long as you’re maintaining a decent profit margin, your business should be able to stay open.
5. Invest in Digital Marketing
As we’ve just noted, people are reluctant to spend right now. So, as well as running sales and promotions, it’s a good idea to invest in digital marketing. Digital marketing will reach potential customers in their homes, businesses, or wherever else they may be browsing the web. Online marketing can highlight the goods you have on offer and encourage people to actually buy!
Sure, 2020 has been a difficult year for us all. But if you run a small business and have made it this far, the above steps can help you to bounce back and get back on track!