It’s not just loved ones that other people lost during the pandemic. Some lost businesses too. Others were just lucky enough to stay afloat. There are some who are on the brink of bankruptcy too. But there are also others who doubled or even tripled their profits during the height of the pandemic-induced economic slowdown.
There are many reasons why a business failed to thrive during the onset or height of the COVID-19 outbreak. It may be because the business used old technologies that are not suitable for migration to a work-from-home setup. Or it may be because the company failed to adopt new strategies to weather the impacts of the pandemic better. In the U.S., almost 100,000 establishments permanently went out of business.
But is it actually possible for a business, particularly small and startup techs, to thrive during the pandemic? How can you expand your business even with the health crisis still ongoing? Here are some of the ways you can keep your business alive:
Switching to cloud-based services
Cloud-based computing has been quite popular among many business industries when the pandemic broke out. Even more, companies switched to it when alternative work arrangements were introduced. The most popular cloud-based services such as Google Cloud and Microsoft 365 are very in demand. In fact, in October 2020, Microsoft 365 reached 115 million daily active users. These kinds of applications allow teams and organizations to continue business and organizational processes through virtual collaboration and presentations.
With cloud-based apps, work can still be done efficiently, and business continuity is ensured. It’s the accessibility of cloud-based services that make this possible. Wherever you are, you can log your account on any compatible device.
Some of the advantages of switching to cloud-based computing are reduction in operational costs and maintenance, as well as flexibility. For traditionally operated businesses, IT software and hardware tend to be replaced after a few years. With new technologies emerging day by day, keeping traditional IT solutions may be impractical if you add the maintenance costs too. Further, there’s also the disposal of hardware that can be quite messy and tedious.
If you are subscribed to the cloud, you can tailor which apps are useful for your organization. You don’t have to subscribe to all applications offered by one service provider. You can just buy a subscription for a fixed number of users and add more users as your business expands. Hence, you are paying exactly for what you just need and actually use.
Digital marketing
Even before the pandemic, digital marketing has been helping businesses all over the world reach their intended market, and even expand beyond that. It didn’t change during the pandemic. Since digital marketing is done completely online, it’s business as usual for most digital marketing companies.
Businesses need some form of marketing strategy to better market their product and show their competitive edge against other companies.
Since most people are on either community- or self-imposed lockdown, most of us have so much time to spare to scroll down through our Facebook and Twitter feeds. This is a good opportunity for you to market your business and reach your target audience. An SEO agency can help you reach out to your intended market, and it costs less than traditional marketing.
Moreover, while targeting a specific demographic and audience is the highlight of digital marketing, it can also help tap a wider geographical area where you can market your product. This is because the Web is practically borderless. Whether you want your campaigns to be limited within a state or county, or you want it to go nationwide, digital marketing solutions can make it happen for you.
So if you are looking to reach a wider audience and expand your business out of the state, then hiring a digital marketing company will be one of the best decisions you will ever make.
Creating a simple but efficient website
To maximize the benefits of digital marketing, you need a good website where people can be redirected to get a glimpse of your services and products offered. You don’t need to do the coding and programming yourself. There are freelancers you can hire for the project for a price you can negotiate.
To make your website and your business enticing, consider uploading videos, and make descriptions short and concise. This is because our brains can process visual information 60,000 times faster than texts. However, be careful not to upload clips that are more than five minutes as this can disinterest customers.
Having a website can also make your brand look more trustworthy and reliable. It is also good to note that your website should also be optimized for mobile web browsing since most people nowadays use their phones for doing online purchases.
Almost everything can now be done online, and business operations and transactions are no exceptions. Your company does not have to close down. There are cost-efficient ways you can transition and adapt to the new normal and expand your business online.
