The COVID-19 pandemic threat is increasing drastically in India. GDP is cratering. The Government had to take the plausible step to unlock the country. The essential commodities business has boomed because of the sharp rise in sales due to people stocking up their products now and then, but the pandemic has affected all other businesses no matter on what scale they operate or what population they serve.
COVID-19 has changed the way people live their lives. The businesses have to stop waiting for things to 'normalize' and should start adapting the 'new normal'.
The people in India are still in fear, which is wholly justifiable. In this case, industries should make their sales online. Customer satisfaction is the most crucial thing for leading a successful enterprise and it will remain the same for ages to come. But the aspects which will satisfy the consumer now are 'safety' and 'assurance'.
Most of the firms already have an online presence in one or the other way, and there won't be a better time to get the most out of it. The firms should look out for creating new online channels to give a much-needed boost to their sales. The new channels leverage your website to sell online, tie-up with e-commerce majors like Flipkart and Amazon, creating an affiliate marketing network, and utilizing their social media handles.
- It is 6-7 times more expensive to win a new customer than to retain an existing one. The key actions of the companies should be staying relevant during the pandemic and keeping their current and potential customers informed. To ensure this, companies should give regular updates on their website and social media handles and come up with various interactive sessions or contests to keep their patrons connected and engaged.
- Another challenge the businesses are facing is to run their operations remotely. With proper training and technical backing, firms can function efficiently and effectively. This is an enormous opportunity for firms to decrease their overhead expenses and increase their profitability.
- The internet changes so fast that one year online equals about five years in the real world. It is all about trying and testing. Once you get to know your strategies, your businesses can grow even in this pandemic situation. What are you waiting for? Turn online soon. Go, Break some eggs.
COVID-19 has changed the way people live their lives. The businesses have to stop waiting for things to 'normalize' and should start adapting the 'new normal'. They should make their sales online and satisfy their customers with 'safety' and 'assurance'.