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We can all agree that Covid-19 introduced a complex mix of challenges to businesses in 2020, and many went under as a result. However, the pandemic has also ushered in untold opportunities for entrepreneurs, and fortunes are being made. It can therefore be said that the growth or collapse of your business doesn’t largely depend on what’s happening in the general economy. Rather, factors internal to your business often determine whether you thrive or sink.
Having said that, here are some opportunities that you can tap to grow your business as we get out of the pandemic.
Support your employees
The number one asset of your business are the employees, and more than ever before, this is the time for you to support them as they navigate their way back to full productivity.
For example, some members of your team may have kids who cannot go to school due to the pandemic. Such individuals need to spend more time at home, and your understanding in this regard can go a long way towards increasing their commitment to helping your business attain its objectives.
After all, if your team feels that you care about them, the least they can do is reciprocate to help you grow your business since the survival of your business ensures that your employees will also grow and keep enjoying your support.
Speaking of employees spending more time at home, how about you help them acquire gadgets which can enable them work from home? Training to get them up to speed with doing business online can also put your business on a trajectory of growth.
Think strategically about every marketing effort
A lot has been flipped upside down during the pandemic, so you shouldn’t assume that what worked for you before Covid will still work post-pandemic. Resources are also scarce, so every penny spent has to be justified.
One way to be sure your marketing budget is being put to proper use is by making use of data analytics to track how effective your efforts are.
For example, it is possible to set up your e-commerce store in such a way that you can track what marketing efforts are bringing clients. Are most buyers coming from Facebook or Instagram?
By knowing what is working and what isn’t, you can make better decisions regarding where future marketing dollars need to be directed. The post-pandemic period isn’t a time to spend blindly!
Related: 10 Alternative Ways to Measure Success
Target clients with more money
Look at your product or service offering and come up with an offer which targets clients with deep pockets.
For example, if you offer online courses, why not create one that targets the top 1% instead of being contented with serving mid-tier clients?
This isn’t to say that serving lower-income customers is bad. Not in the least! All we are advocating here is that you break out of your comfort zone and target more premium clients.
The success of this undertaking will depend on how irresistible you make your offer, and how well you understand the needs of your target clients. So, go for it and see your business grow!
Use podcasts to supercharge your marketing
85% of all Americans say they go online each day, and this presents an opportunity for you to increase the number of your potential clients rapidly. Getting on a podcast is one of the best ways to do this as many people will not have any complaints about listening in while they perform other tasks, such as doing laundry or preparing a meal.
You may not need to start your own podcast (although that isn’t an altogether bad idea). Instead, get in touch with a podcast booking agency and let them help get you onto podcasts with decent subscriber numbers.
The podcast appearance will give you added credibility and you will get your message across to thousands of potential clients. As your reach grows, so will your business!
Get back to email
If Trump could be booted from Twitter, what guarantees do you have that the platform won’t restrict or ban your business? We are using Twitter as an example here, but the message is that it is too risky to rely on platforms you don’t control while you build your business. It simply isn’t a smart thing to do.
The smart thing is to build your own website and create an email list of current and future customers, as well as potential ones.
The beauty about email marketing is that it is tried and tested, and there are great tools out there to automate most, if not all, aspects of your email marketing campaigns.
The regular newsletters and emails you send out will cement your bond with your “tribe” and it will be easier to sell existing and new products to people who already trust you.
As your email marketing matures, so will your business grow!
Make “who” your favorite verb
Back in the day, we were taught that a verb is a “doing” word. So how can you turn “who” into a doing word?
For your business to grow post-pandemic, you need to get experts on board. Why should you spend valuable hours learning how to do keyword research when you can simply ask, “Who can do keyword analysis for us?”
Similarly, rather than spend sleepless nights brainstorming on how you can double the number of visitors to your site, why not just establish who you can partner with to grow your audience?
As the word “who” becomes your favorite, you will grow from being a one-man army to having a team of very smart people collaborating with you to scale up your business. If that isn’t growth, I don’t know what is!
Don’t limit the payment options
2020 and the pandemic associated with it forced change upon a lot of people, and more changes are coming at a fast pace. For this reason, we recommend that you adapt to new technologies and payment options, such as cryptocurrencies.
For instance, PayPal revealed that it would start supporting cryptocurrency payments in 2021. So did Stripe. If those giants are accepting crypto, what justification do you have to limit yourself to the traditional payment options? Read the times and let cryptocurrencies carry your business to higher growth!
The bottom line if you want to see business growth in 2021 and beyond is that adaptability should be your catchword. Focus on transforming your business so that customers come for the experience you offer them, and not just a transaction. If you master that, your business will be shock-proof!
To Your Success,
Jairek Robbins