The coronavirus has hit the economy hard. Stay at home orders have caused many businesses to close their doors. People have lost their jobs, and this is causing them to spend less money. All in all, it can be a tough time to be a retail business. You shouldn’t give up hope though. You can still come out on top if you’re willing to adapt to the times.
Keep Your Customers Engaged
Acquiring new customers is expensive. So, you need to make sure that you aren’t losing your customers while your store front is closed. There are several creative ways to reach and serve your customers during this unknown time. You can connect with them through email and text message, but if you want to make an impact, try social media. With more and more people stuck inside at home, they are spending even more time on social media than normal. You could run some social media competitions. Ask customers to post a picture of their quarantine picture featuring one of your products as an entry into a giveaway.
Rethink Marketing and Advertising Strategies
Your normal marketing campaign isn’t going to cut it during coronavirus. If your store front is closed, rather than encouraging people to come into your business, you need to encourage them to go to your retail website. If your business is in an area where restrictions are relaxing and you can open your store front, you need to address the situation. In your advertisements, talk about what you are doing to promote customer safety. For example, talk about frequently wiping down surfaces and employees wearing masks. This will help make visitors feel safe when they come into your store.
Use Government Programs
The government is aware of the strain that has been placed on businesses. The government doesn’t want to see the economy destroyed. Several programs have been put in place that are designed to alleviate some of the financial difficulties that businesses are experiencing. It will be worth your time to check these out to see if you qualify. You could get assistance in paying your employees. This will help you avoid letting go of employees due to business constraints.
How you react during this pandemic is going to determine a lot about the future of your business. During tough times, successful owners and entrepreneurs are innovative and turn the situation to their advantage. That might seem tough, but it can be done. Your attitude is going to be your biggest limitation.
For more tips on getting through this trying time, check out How Your Business Can Do Its Part to Protect the Public Health