How to Generate New Business During a Crisis
If the events of 2020 have shown us anything it is that as a business there is always the potential of a crisis around the corner and during such a situation it is essential that your company has a plan B up its sleeve for whatever may be on its way. Now of course this global pandemic has been completely unprecedented but it has taught many businesses just how important it is to prepare for the worst at all times. During a crisis the key to survival is drumming up new business and here is how you can go about it.
Changing The Tone
The last thing that anyone needs when they are going through a crisis is a business brazenly looking for new business or making light of the situation in order to gain attention. This is why it will be essential that you change the tone of the conversation and that you are able to show empathy and understanding during a crisis. This should be extended to both existing customers and new, not only is it the decent thing to do but it can also help you to gain some respect and business from the consumer.
Instant Sale Marketing
Your marketing strategy on the whole is going to have to change when a crisis hits and this will mean any marketing campaigns which were aimed towards long term growth and brand awareness. Instead what you will need to do is switch to an instant buy strategy which promotes individual products rather than your business on the whole. The key to surviving a crisis is to make money and that is why investing ad dollars on long term marketing won’t be a smart move.
More than ever before your business will have to smell what sells when it comes to a crisis and ensure that those are the products which you are promoting. For example if we consider what has been going on this year, if you had a business which sold a range of clothing then you would be far better off focusing on the sale of loungewear rather than selling ball gowns. This is the type of attitude which you need to have towards your business, smell what sells and then focus on it.
Being Prepared to Switch Focus
The businesses which have survived best in 2020 are those who were very quick to recognize the need to switch their focus and to sell whatever they had to in order to stay afloat. We have seen micro breweries turn into hand snazzier manufacturers and we have seen those in the textile industry making face masks, this is what flexibility looks like. If you want to bring new business in during a crisis then you have to be prepared to pivot and refocus the energy in the business towards whatever is needed in order to keep the money coming in.
The ultimate challenge in a crisis is that of reaction time, a business, in order to find and maintain success must quickly identify the problem and that take decisive action to resolve it.