Change Your Business Priorities During The New Normal Of COVID-19
Nov 13, 2020
6 min read
Like almost all aspects of life in 2020, businesses too have been impacted severely by the pandemic. The only way for companies to survive this time and come out stronger on the other side is by changing their business priorities and pivoting strategies. While this worldwide crisis has been unprecedented, it is still possible to navigate your way and find new footing.
Changing your business strategies quickly but efficiently is the key to the game, but how can you do that successfully?
We've put together a list of steps that can help you alter your changing needs and priorities during the COVID-19 pandemic.
Understanding new priorities
When it comes to determining what your new priorities should be, take the time to not just understand what they will be, but also why they are changing. Which strategies will be changed is a very personal choice and will vary from company to company depending on their daily operations as well as their industry and what they sell.
There are certain areas of businesses that have taken a hit during this time, and you can determine which apply to you. The most commonly analysed areas consist of development, marketing, pricing, user experience, sales, and product enhancements.
For instance, during this time you may have to change your pricing to accommodate the present economic climate or alter your sales and marketing strategies to match the expectations of the customers. On the other hand, growth strategies may also need changing due to costs or product enhancements needed.
Next comes understanding the reasons for these changing priorities, which could be any. Most commonly, they help in minimising spending, automating tasks, saving jobs, better allocating resources, or even increasing productivity during this time. Take the time to understand what is affecting your business the most and what you can do to change that.
Preparing for what's to come
While we move towards a new normal, there are certain guidelines and regulations companies will have to follow to ensure safety and productive business operations. For a lot of companies, this may mean shifting to a completely remote way of working as businesses need to maintain safe distancing and limit contact between people in offices.
As things become more "distanced", the digital economy is also on the rise because post-pandemic, it is one of the ways companies can recover from this current economic impact. As reliance on technology increases, businesses need to incorporate the new resources available and take advantage of them to the fullest to sustain right now.
Make sure to always be flexible and adaptable to your new surroundings and climate. For instance, incorporating the current pandemic in your marketing and messaging can show customers that you are in tune with them and are as worried about the pandemic as they are. You could be in any industry, but this impact is global and thus should reflect in your brand identity.
Take a look at your marketing materials and change imagery that shows large crowds of people or people hugging and shaking hands. Move your messaging to one that assures the safety of your employees as well as customers.
Adapting your brand to the current situation can help you go a long way with customers. Showing that you care about others as an organisation helps others relate with your more. Not addressing the pandemic can make you seem indifferent and eventually obsolete as a brand.
Limitations on expenditure
There's no doubt that saving money and handling finances better are of utmost importance for all businesses during the COVID-19 crisis. It has made a big impact on the way people spend money and make purchases right now. It is the need of the hour to find strategies that limit expenditure but ensure your business can still run at full capacity.
Automation is one such way companies can reduce the time taken to do repetitive tasks and make your everyday work processes much easier. Look at affordable and time-saving tools that can help with marketing automation, project management, sales management, telesales management, customer relationship management, human resources and recruitment, remote work monitoring, and more. You can pick a few or get an entire suite of all these tools as per your requirements.
Making a change in your business priorities is a big necessity right now so you can sail past the Coronavirus pandemic and come out successful on the other side. Gather data, evaluate results, and adapt to the changes around you so you can be resilient in the face of any crisis!
With a shift in priorities and a need for automation, Customer Relationship Management software is where FIVE CRM can help. Having scalable and affordable technology on your side can definitely help increase your chances of settling into the new normal.
If you're looking for such a platform for your business, get in touch with FIVE CRM to know how we can help your company grow.
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