Determining what’s next for your business in the wake of a global pandemic was likely not on your list of business goals at the start of 2020, was it?. Yet, as we approach the second half of the year, companies large and small find themselves pivoting and changing up their business strategy, often daily.
As states start to slowly lift restrictions and get back to some semblance of normal, how do businesses move forward and determine what their next steps should be? It will require a significant change in thinking, approach, and delivery. Pivoting your current business strategy to one that will work in a post-pandemic reality is critical. How can you do so in a way that benefits both your customers and your bottom line?
Pivot in Your Business By Filling a Need
In a matter of days, business owners the world over implemented new ways to assist loyal customers and potentially reach new ones. One real estate agent created a Facebook page for restaurants to post take-out specials and delivery deals. Community members joined looking for a respite from the everyday drudgery of cooking, ordering, and disinfecting groceries. Restaurants joined to help bring in new business and stay afloat during this difficult time.
The Facebook group grew to over twenty-thousand members in just a few short weeks. This real estate agent is now a local household name. She filled a need for her community and reached a significant number of residents. These residents may now think of her first when they’re ready to buy or sell a home.
The goal of the real estate agent wasn’t to drum up business. Her goal was to provide a much-needed service to her community. By caring and looking beyond herself and her business needs, she created a resource for thousands in her community. She was able to grow her reputation by building relationships within the community.
Consider how you can fill a need for your community. Provide resources and assistance without asking for anything in return. Brainstorm ways you can show up for your customers that solves a current pain point for them.
Look Beyond Your Brand
The FLOCK business model revolves around a common theme that is designed to help content creators gather with other like-minded individuals to help them grow their brand and business. Social distancing threw a bit of a wrench into the mix and over the last several weeks. FLOCK has worked feverishly to figure out a mutually beneficial way to conduct conferences online. Another way we’re connecting is through regular digital Happy Hour events.
If your brand relies heavily on face-to-face communication, now is the time to figure out how you can connect with your audience digitally. As we move toward the latter half of 2020, the future of business travel remains up in the air. Business owners need to determine the best ways to connect while maintaining social distancing efforts for the foreseeable future.
Until we are able to meet again, businesses will feel the impact as a result of the COVID-19 global pandemic. Companies realize that they need to remain vigilant in figuring out new ways to do business, and bring in money should we find ourselves faced with a similar global event in the future. Use this time to look into pivoting and creating a new business strategy going forward. This will ensure you’re poised for success in the future, no matter what may come.