It is too early to perceive or assume how our tomorrow will be. Even as the world is figuring out ways and means to sustain in this crisis, there are few things we can achieve with some forethought and empathy. The most important thing to remember isthat communication gap leads to business gap. This pandemic brings with it the challenges of uncertainty, business continuity, deliverability and so on. There is also the concern of unguided employee perception and lack of transparency which poses as an added challenge. Through these changes, there may be risk in decision making and growth planning of the business. If predictions are to be believed, there might be a possibility of economic depression, inflation in consumer productscausing an imbalance in the demand and supply.
Despite all this, there are few things businesses can do to uphold their brand presence.
Build the morale of all parties:
First step toward rebuilding from a crisis that can be damaging to your business is building the morale of yourcustomers, stakeholders, employees, and even the general public. This will create a domino effect that might run outside the scope of your business too. In turn employees will be motivated and directed towards adopting to the new-normal of the business environment.
Take calculative risks
Waiting for bad days to pass and good times to arrive is not a business strategy.Through conscious and cautious investmentinpromotional, marketing or brand building exercises, you can ace your market presence and expand market share. This can be achieved bypre-defined parameters that cantest new markets or improveexisting offerings.
Create a sense of unity and oneness
As the pandemic affects all people of all age groups and all backgrounds, all your marketing effort will have a multiplied effect on your brand leverage even by consumers who are not of your target audience. By sending out humanitarian and benevolent messages, by showcasing public-interest and welfare advertisements, safety and inspirational messages or by doing anything good for the affected people will indirectly lead to gaining momentum for your brand.
Revisit goals and objectives:
A fool-proof way to go return to business is by setting up new goals and revising the working operation. Tofocus not just on people, but infrastructure, communication, transportation and technologies. Modify the pace and expectation to accommodate and customise your resources with the macro environment.
Reach out, collaborate and learn from other businesses:
Use to your advantage the renewed government and public policies pertaining to the pandemic. As all businesses are trying to find their footing and re-establish themselves, this may also be the right time to discover and explore new vendors and service providerswhile incorporating contingency plans. Doing these things will build again not only your business, but also contribute to the economic growth of our society.