21 April
Is your business ready to face another pandemic?
Pandemic affected the business’s efficiency globally. But the question is - Is it the actual cause for the business shutdown?
It is fact that many businesses failed in the pandemic but others prospered too!
It is all about finding opportunities in crisis.
Many businesses failed to sustain in the pandemic, here are the reasons why:
1. Lack of technical assistance
The business's post-pandemic was largely dependent on employees for streamlining the process and generating sales. Owing to this, they find it hard to sustain and compete in the current COVID scenario.
Can you revise the failed strategies? Yes, you can!
The possible solution could have been:
- By having a framework to streamline the technical processes
- A framework to re-engage customers and retain them
- Adopting easy to use technical assistance platform
- Having a 24/7 assistance
2. Ineffective marketing
Almost overnight, the customer changed the behavior drastically. The marketing leaders and the budding entrepreneurs need to access the needs of the customers based on a particular marketing segment. This brings us to the reason why many companies shut down in the pandemic era. The primary reason behind the shutdown because
- Old and ineffective messaging that does not align with current marketing trends
- Incentivizing policies
- Ineffective and unrevised value-propositions (Know how a single message can help you actualize your revenue goals)
The possible solution could have been:
How can you emerge a leader in the race in the current situation?
- Finding a particular niche where competition is low
- Researching on the current demand and find an apt solution (product)
- Analyze competitors (where they missed to hit the spot?)
(Want to know how to choose the right market segment and ensure Zero Loss? Register for the training program NOW- YES, I'm INTERESTED! )
3. Limiting to a single type of engagement
The major reason why the businesses failed in a pandemic is restricted engagement strategies. Many businesses that run a brick-and-mortar business were the worst sufferers. Amid the current pandemic situation, the companies have to broaden up the marketing sphere and bridge the gap between customer and brand by maximizing the engagement channels.
The possible solution could have been:
How to choose the right engagement channel for your business?
For choosing the right engagement channel for your business, understand the perceived value of the products and services and relate it with the shifting consumer behavior. Understand how a customer reacts to a particular engagement strategy and choose the engagement channel accordingly.
4. Be customer-centric than product-centric
It is a fact that external crises like pandemic have negatively impacted a business in COVID-19. Irrelevant associations, lack of focus, and neglect towards establishing client-brand relationships prior to marketing ultimately resulted in business shutdowns.
Are you mirroring the same strategies for your business too? If yes, then you could be in great trouble!
The possible solution could have been:
How to design impactful messaging that hits the sweet emotional spot!
Yes, a customer makes a purchase decision based on how emotionally he connects with the messaging of the brand.
If you will ask me, “Would that means I have to be a little more dramatic than usual?”
Well, the answer is a yes!
For example: What made a million people connect with Apple? Why the brand is successful?
It is because of messaging!
What makes you choose Dove over other soaps? – MESSAGING! (it’s not soap!)
Are you familiar with the fact that the right messaging can reduce your expenses on marketing?
Yes! And on top of that create a lasting impression on the customer.
Wonder how just 8 words can revolutionize the way you sell?
5. Failure in recognizing the need to get interdependent
Many businesses in the pandemic failed because they lack the urge to get interdependent. They resisted the urge to adopt change and hence shut down.
A possible solution could be:
Now think:
Are you someone who spends the entire day brainstorming the best operational strategies for the business?
“You must have been thinking about the hiring costs, marketing expenses, identifying and fulfilling sales objectives.
But are you familiar with the fact that you are wasting not investing your time thinking about these operational measures?
Yes, it’s true!
Position yourself in the current marketing scenario and think-
- Are you making any difference in the market sphere?
- Do you have something new to present before your customers?
- Are you prepared to beat the existing competitors by having something that they lack on?
- Why should a customer choose you amid so many choices available to them?
This is what you need to think about!
“How will I figure out all of these?”
“How can I position myself strong in the face of stiff market competition?”
If these are your questions, then you probably need to re-think your business strategy. For making a stringent strategy, you need to have a tab over touchpoints.
6. Imbalance in expenses and savings
This is another major problem that the businesses suffered in a pandemic. The expenses to meet the current needs of the customers, suppliers, manufacturers, increased but on the other hand, the savings account was shrinking.
You might have faced the situation too!
Is there any solution for that?
Yes, there is.
- Have a tab over the inventory
- Have a streamlined analytical dashboard
- Making marketing budgets
- Identifying the need and designing the right product
Owing to these big mistakes that businesses made in the pandemic, the businesses got shut.
Do you want the same for your business? No!
It is better to get acknowledged than to regret it later!
This training is for the one who:
- If you are not getting sales even after registering on third-party websites”
- If you are tensed about managing and balancing the expenses and savings
- Facing trust issues after being cheated upon by the partner”
- Is struggling to maintain and systematize business operation”
If you are ready to stand above your competitors and establish a firm grip over sales, then the training is just for you!
Encounter the cracks in the business process and launch a dynamic strategy for sales.
