In my opinion, this wise phrase is the guide that businesses should have in dealing with the short-term and long-term consequences of the crisis in the market. But mainly to take advantage of the opportunities that will arise after the end of this crisis and to properly prepare for them.
This can be done by analyzing the changes that this crisis brings to human behavior and finding appropriate ways to adapt to those changes.
During this time we observe:
- Reduction of consumption due to restrictions.
- Reductions in sales of non-essential goods (clothes, shoes etc.) due to change of priority.
- Increased sales in hygiene products and home entertainment products.
- Increased social media traffic.
- Increased engagement in internet activities by previously non-active users.
- Hesitation in consumption due to financial uncertainty.
From the above, it appears that the average consumer needs:
- To provide him with what he needs, at the price he can pay and in the way he wants, because of the circumstances.
- To suggest solutions with goods and services that will make his life easier in the crisis.
So the company must:
- Have a correct online representation
- Reform their sales policies so that they fit the current situation
- Adjust the delivery options to fit the currents situation
Now is the time to optimize the business’s online presence in order to compete with the market.
To do this an action plan is needed. We suggest the following:
- If the company does not have an online presence, immediately take the necessary steps to obtain a site, e-shop and online promotion.
- If it has an online presence, evaluate it immediately and make the necessary improvements and adjustments quickly.
- **** στα ελληνικά έχεις δύο φορές τη λέξη την χρήση Business’s must start accepting online payments by credit card or through PayPal, in oreder to avoid interactions. Customers can be motivated by receiving a discount.
- To sell new products and services that consumers now seek.
For best results you must:
- Offer special deals and discounts
- Offer free services (consulting, delivery)
- Engage with previous customers for optimal customer service.
- Send promotional emails.
- Apply upselling and cross-selling technics by adjusting its trade policies.
- Start or intensify remarketing.
- To take advantage of digital marketing and social media.
For the best use of digital marketing and social media, the company must:
- To take advantage of the customer’s free time and their need for real-time communication.
- To possess part of the budget at digital marketing through social media
- To take advantage of the new audience that is created, due to online markets.
- Enhancing remarketing.
- Mainly to pay attention to the character of the content of promotional activities. Emphasize that it helps the consumer and that he is by his side.
In addition, the company needs to pay close attention to its communication with its audience. To achieve the best communication we suggest:
- Extension of working hours “working hours online”. Immediate response to the public via email, social media, chat, etc.
- Taking advantage of the opportunity to increase its branding due to the increase in the audience’s stay on social media. Increase the quality of social media presence by improving text, hashtags, and graphics
- Use #menoumespiti so that the posts attract attention.
- The public is informed that the precautionary instructions are being followed and that all relevant measures are being taken by the company, especially in the production processes and distribution channels.
All of the above are suggestions on what a business should do during the crisis. But just as important is what the company needs to do to be better prepared when it passes. We suggest the following:
- Diagnose as soon as possible the conditions and consumer behaviors that will have formed.
- To adapt to prepare its operation and organization for these conditions.
- To regroup its forces and enter the market even more dynamically.
- To develop a new marketing plan for the new market conditions.
- Prepare for the increased demand due to the expected dynamic return to the market of sectors that are currently affected (eg catering, tourism, etc.).
- Continuation of its digital transformation.
- Prepare for the next challenge.