The sudden onset of the pandemic shook the entire world last year. Nobody was prepared for it. The businesses worldwide suffered extreme loss and some had to close down permanently.
Recently the World Bank released some shocking data related to the same. By October 2020, one-fourth of the global companies saw a 50% shrinkage in their sales, compared to pre-pandemic levels.
Firms in a developing country like India faced extreme wrath when clients cancelled their orders, leading to months of loss periods. Due to the uncertain time, people hardly took shop loans for setting up new businesses.
Small businesses had to either shut down permanently or cut off their employees. This led to a staggering rate of unemployment during the lockdown.
For every economy, business is a source of both goods and services. Thus, it becomes important to have a strong business environment to boost the country’s progress.
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Tips to Re-open Business after COVID-19
As soon as the lockdown rules get relaxed, the companies shall be expected to restart their working full-fledged. However, this process is not an easy one and involves several factors. For example, the Amul franchise has taken all the necessary steps to ease the transition.
Several small investments have been made to facilitate the re-opening process. Shop loans are being given to small businesses at low rates for helping them. Let us discuss seven relevant tips which companies can follow for getting their business on track!
Ensure the Health and Security Aspect
One must realize the pandemic is not over yet. As a company, the first responsibility is to make sure that the employees get a safe environment to work.
The best way to confirm this is to vaccinate them as soon as possible. After that, they can be allowed to work from the office, along with other safety protocols like masks and sanitizers.
If your products can be sold online, it is the best option at the moment. In this way, both the business and employee shall be safe from the pandemic’s effect.
Make a Public Announcement
If your business was inactive during the past few months, it is the perfect time to announce its re-opening to the public. Apart from being an effective marketing strategy, it is necessary to boost your client loyalty who might be waiting all along to avail of your services.
- Post on your official webpage. It is a vital step since most of the top personalities shall be checking the page quite often.
- Put up banners and advertisements wherever possible.
- Write blog posts regarding the re-opening of business. Ensure to include the covid protocols being planned to follow by the company, which will allow the customers to trust you.
Offer Attractive Deals and Discounts
Almost every person is experiencing a financial crunch these days, credit to the pandemic. In such harsh times, nobody will waste money on unnecessary things.
To win back your customers, you need to introduce some exciting offers and discounts which might convince them to buy from you.
For example, several online streaming platforms gave free access to their premium content during the lockdown. Many gave discounts on subscriptions to attract more customers.
You can also provide shop loans at cheap rates. Employing these strategies, you will win half of the battle easily!
Technology has become an unavoidable part of running any business nowadays. Hosting webinars, online food festivals, takeaways, etc., are some great methods to keep your customers hooked.
Staying at home, they can enjoy your services, at least until you open them offline. Several food delivery apps conducted such events during the pandemic months.
The customers will stay in touch and you can invite them when the situation returns to normal. Post on social media for such events and host them regularly on online platforms.
Contact Your Suppliers
Proper contribution from the suppliers is mandatory for the fulfilment of customer demands. You need to confirm if suppliers are available to carry out the production needs, aligning with your interest. Don’t presume anything before contacting them.
Communicate about the payment timings, the delivery dates and give them the required information. Plan your financial layout for the upcoming months to make sure the re-opening process stays smooth.
Recheck the Business Plan
There is a stark difference between the market before the pandemic and today. Your concrete plan working in those days may not do the same now.
Hence, re-evaluate the scheme and make the necessary changes according to the present situation. If you need a shop loan to revive your company, apply as early as possible.
For example, if you run a cafe, you must include options of ordering and paying online, because most customers won’t be going out to buy items from your cafe in such an unsafe situation. Consider the entire organization before framing the final plan.
Take Customer Feedback
The entire game will change post-pandemic. One of the most effective ways to reach out to more customers is to observe their sentiments while purchasing products. Due to the unsafe situation outside, most of them would prefer to stay back at home.
So, if your company can sell its services online, there won’t be a shortage of customers. It is all about how you bring changes in approach according to market needs.
Study the social pages of competitors and see how they are engaging with their target audience. Take inspiration and adopt an approach that would work for your business.
Apart from reviving one’s business, starting a new business is not a bad idea right now. If you plan meticulously, several new domains have opened up and have a dynamic market presently. A Tea time franchise is one such evergreen domain that has lots of profits in it.
The initial need for capital can be fulfilled by a business loan. We at ZipLoan, provide shop loans up to Rs. 7.5 Lacs for setting up new businesses.
The requirements are very easy to fulfill and we are a reliable setup that promises to guide you through the entire process. Visit Ziploan – One Stop Solution for All Your Business Finance Needs for detailed information.
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