Plan Your Business Recovery After Covid-19
As countries across the globe begin easing restrictions put in place due to the ongoing COVID-19 crisis, there are a number of steps business owners should be taking to both reduce the impact the closure has had and to plan for recovery. While demand for certain products and services might skyrocket the moment some businesses reopen their doors, the same can’t be said for others. So, it’s important that as a business owner you properly plan out your business recovery for the best chances of hitting the ground running.
Based on our experience and observations throughout the pandemic, we’ve identified five steps business owners should seriously consider taking when planning out their business recovery strategy.
Rethink and Revitalize Your Strategy
Take what you’ve learned from the crisis and incorporate it into your long-term business strategy. If your business was one of the lucky ones able to remain open, then look back on what worked well and what didn’t. It isn’t hard to realize that it could take some time before business reverts back to “normal,” so take this as an opportunity to rethink your overall strategy in terms of the current situation.
Update Your Website
In our last article, we discussed the benefits of updating your website and listings during the downtime caused by the crisis. In the same way, it’s just as important that you update your website now that things are starting to clear up. Updating opening times and letting customers know when they’ll be able to visit you again should be high up on your list of priorities when planning out your recovery. It’s also a good time to add any necessary information and tweak cancellation policies to reflect current circumstances.
Reach Out to Your Customers
Now is a great time to reach out to your customers and reclaim any lost business. In addition to updating your customers and clients on your new opening hours, you might want to offer them a small incentive to get them to rebook, complete their purchase, or resume their work with you. This, of course, depends entirely on what kind of business you operate and the relationship you have with your customers. In general, however, you’ll want to form (or maintain) a connection with your customers and reassure them during these troubled times.
Resume Your Online Marketing
If like many businesses you decided to suspend or cut back on your online marketing during this temporary crisis, it’s time to start things back up again. While pumping the brakes on your digital ad spend might have seemed like a good idea to cut costs, any long-term pauses could be detrimental to long-term business growth. Consider resuming your digital marketing right away and be prepared to increase your ad spend to meet any possible surges in consumer demand.
Rethink What Matters
Were you happy with the way things were going before the crisis? Were there any areas in which you felt your business could have done better? Take a moment to measure your business’ success pre-COVID-19 — you might be surprised with what you find. In terms of measuring success, it’s essential that you identify and prioritize areas that generate results and drive business growth. Once you’ve identified these areas, develop your recovery plan around them, and leverage any available resources to ensure a quick and painless business recovery. You’ll be back on your feet in no time.