Keeping Business Cash-Flow Running during Coronavirus

Keeping Your Business Alive in Coronavirus.

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Keeping Your Business Alive in Coronavirus.

We’ve been hearing that, “People are going to consume Digital Content More, since all of us are locked inside our Homes, because of COVID-19”.

Because people are stuck at their Homes, staring at their Screens is not the only thing they are going to do All The Time.

However, with less distractions and more free time, their Attention Span will Increase, for sure.

And Not All Time, but the time spent in front of their Screens has actually increased by more than 10%. And the reasons are obvious.

Coronavirus Pandemic has caused a Market Slowdown. Many Businesses are struggling to keep the Cash Flow.

Experts say the worst is yet to come. So, it is important for Businesses to keep generating cash, at least the bare minimum to survive through this time. This brings an issue for Business People too – Keeping Your Business Alive in Coronavirus.

As a Business, you can do few things to benefit from the fact that every one of your prospects has slowed down and is right now looking at their phone or laptop. This makes it the best place to reach them Right Now.

1. Go Digital Now, If Not Already


Everyone knows this and You know this – “Only Businesses still functional during this Lock Down are the ones which are using the Internet as a Tool.”

These are the Businesses, which have been either already operating Fully on Digital Platforms or some of their Processes have been digitized.

And No wonder why these are the Only Businesses still functional during Pandemic.

Sure, if your Business deals with a physical product [which it is hard to of the product during Lock Down] or requires human physical interaction – this could be the reason your Business Model is unable to move online completely.

But you can Not ignore the fact that only physical product based companies having positive Cash-flow are the ones which have moved to Digital. Because they have been aggressively in touch with their customers – virtually and through Social Media.

This is, without a doubt, First and Mandatory step towards  Keeping Your Business Alive in Coronavirus.

 

2. Offer Free Value - Service or Product


In short – get them to your website. Why? – Because that way you can collect information from people who are interested in your Business.

And not just their Email-ID (which is a very Important piece of information as a Business Owner) – but you can also track people who have visited your website.

So when everything goes back to normal, you can reach out to them with your Product/Services.

And How do you bring your potential customers [who are interested in your Product/Service] to your website? – By Giving them Free Value, Service or if possible, a Product.

 

3. With More People Digitally Available, It’s a Great Time to Promote Your Brand


With everyone attached to their screen for slightly more time and with the higher Attention-Span, there isn’t going to be any better time than this, to promote your Brand/Service/Business.

This is the same reason, Successful Names in the Business still haven’t stopped Advertising. They did not stop even though these Brands represent physical products and can’t make a sale during Lock Down.

And if you have a Digital Product, which means – you don’t need physical presence to make a Sale, Results by promoting your Business during this period will even be better.

4. Keep in Touch

  • Engage With your Customers/Followers through Virtual Q&A OR Contests, Trivia etc.
  • Arrange Virtual Meeting.
  • Instagram-Facebook-LinkedIn Live. 
  • Offer Giveaways or Shoutouts.

Get them to Engage with your Social Media. Just Don’t Lose Contact. This is probably the least discussed and the Most Important Step towards Keeping Your Business Alive in Coronavirus.

CONCLUSION


Important thing to keep in mind is – Your customers were also hit by the Market Crash. 

So they might not spend anything with you right now. But if you provide them with some useful information, then they surely will take interest in what you have to offer. 

By doing this, you can create a list of leads. You can sell your Product/Service to these people, when things are back to normal again. 

And while sharing that important piece of Free information/service, if you do it right – they might buy from you now. 

But for all the Businesses, ‘Awareness Campaigns’ to reach New Potential Customers and to Build a list of Strong Leads – Digital Promotions are the best option – as every one of your Customers is spending more time with their Screens.

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