POST COVID IMPACT ON YOUR BUSINESS AND HOW TO EMBRACE IT
May 15, 2020
How can your business adapt to the new normal?
Businesses all over the world were disrupted early this year due to the Covid-19 outbreak. Over the past three months, many are still trying to survive despite the growing number of cases worldwide. Yet, it seemed that COVID-19 is here to stay longer and affect us deeper than we were ready to accept it.
The pandemic created a domino effect in several industries that led to the shaking of the world economy affecting small enterprises and even international companies.
Image: Zurich Insurance group
EMBRACING THE IMPACT
1. Digital Transformation. More and more people are now actively diving into the use of social media. About a long time ago, it only served as a social networking connection but now it’s turning and keep on developing as a lead generation tool, eCommerce, data collection tool, and really lucrative business. If your business does not have any social accounts or does not exist in the digital world yet, then you will not fit in the new normal. Transform and stretch your brand.
2. New Essentials. The pandemic brought panic to the people and how they behave in terms of consuming goods, products, and services. From the essential to non-essential up to the “new essential”, your business must be aware of what is your target market demands during this time. In short, cater to the new needs.
3.Transform from Within. Post Covid-19, foreseeing a “new norm” for business owners. Small enterprises to multinational companies need to shift focus to restructuring their operations, adapting to technology, strategic workforce planning, and operational strategies. Seek professional advice to survive and navigate your business towards the following:
• Workforce planning, including remote workforce planning, flexible contracts and HR policies;
•Risk Management, business continuity and disaster recovery policies and procedures;
•Cloud-enabled IT infrastructure, ERP and CRM;
•Redundant sourcing of essentials such as inventory, supplies and people.
Identifying which industry your business falls under and which industries contribute to the supply chain your business is vital to your next action on how to embrace the new normal that COVID – 19 brought to the world. From here, you will be enlightened on what your customer demands and what you can innovatively offer. The global reach of this virus should now more than ever encourage continuous collaboration between individuals, and between the public and private sectors. Thus, seeking professional advice is a huge advantage to adapt to this new norm and survive the hit of the crisis.
Nvance Leap is a result driven and versatile marketing agency that helps businesses to transform digitally. Our creative and technical team collaborate to our client efficiently to review, revamp and re-innovate businesses. Our holistic approach to your business needs has always been our advantage that sets us apart from other marketing agencies because our goal is achieving our client goals in terms of marketing result and sales conversion.