How To Make Your Business Profitable During Coronavirus (Covid-19) Pandemic

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A great pandemic disease that flip flops every person and their business for the past months and which is an unexpected incident that occurs all over the world. To save the lives of people they have to follow the preventive measures guided by the doctors and governments. Social distancing is the best way to escape from this crown disease and washing hands with sanitizers and soaps, wearing masks are the other steps to be followed. But when it comes to the business side, the COVID-19 creates a great loss and entrepreneurs are trying to lift up their business.

You have to turn the massive challenges into meaningful change.

Make this coronavirus period as an opportunity to improve your operation and business strategies and earn profit from it.   If you’re a startup businessman or running a medium scale company then try to improve your branding and increase the sales and services by the latest tricks and tactics guided by the top branding entrepreneurs.  But make sure that your only goal is to help people and earn the profit.

If you’re trying to earn only the profit then you will surely lose your reputation from your potential consumers.  One of the best incidents that make most of the people bliss is “Dettol” a bacterial and germ fighter product company posted a banner on social media.  In which they mentioned people to use sanitizer but they never mention their product there.  Help people without any expectations, remember people will keep your brand name in their mind for a long time.

In this article, let’s check out the tricks to improve your business profit during coronavirus suggested by the top entrepreneurs.

Be Connected With Employees

Never let your social distancing bring a big gap between you and your employees or colleagues. There are 4 ways to be connected with your teammates during covid19.

Establish open Communication with them.-  You have provided all the updated information about the project and bring transparency to the team. Arrange a video conference and allow everyone to communicate accurately about the project.

Conduct Regular Meetings-  In this time, one’s priority may change. But you have to keep regular check-ins to work properly. Conduct weekly virtual meetings and share your works, and your next week’s plans and achieve your targets.

Create Space For Casual Meets-  Colleagues will get bored with formal meetings every time. Conduct informal meeting chat about new things, quarantine bingos, recipe sharings, your hobbies, and about the news. Always remember that your talks never ruin your work.

Celebrate By Innovative Ways- Celebrate your worker’s birthday, anniversaries completed targets meet in a unique way. Celebrate through video calls, present gifts through orders, offer team lunch through virtual calls. Connect with them through technologies.

Be In Touch With Consumers

Covid19 can be prevented only by social distancing. But social media helps one to get connected. There are three tips to always stay in connection with your targeted audience.

  • Keep Them Updated-  Never let covid19 make your audience to forget about your business. Keep your audience updated with your business plans, payment methods, latest technologies you’re embedded with your business. 
  • Send Informational Content-  Even business gets dulled and every person was on a tight schedule and rough finance. This is not the right time to sell your products and services to make your business alive by sending emails on educational content.
  • Tell How You Can Help- Take concern about your consumers and tell them how you can help them to sustain in this pandemic situation. Though their business may be running in a great loss guide them to achieve in their bu

Implementing Strategic Pricing

Pricing is a continuous process and it’s not a single hyperbolic one.  One cannot make a decision within a fraction of second and forget all about it. And pricing is one of the most important strategies in business aspects and it improves the bottom line of your business.  The pricing of a product is based on the employed size, the quality of raw material, the workloads.  The three important aspect helps you to understand the needs of pricing strategy.

  • Develop a 1% pricing strategy- A CEO running his own business. At first, the CEO maintains the pricing scheme and the business grows up, then the pricing plans were maintained by the finance department. But after so many years the finance team only focus on profit, the consumers search for other suppliers and the marketing stands in the middle, the company suffered from a great loss. After that, the CEO contributes 1% of his effort to maintain the pricing strategy of every product and services and the company goes up.
  • Consistently Deliver  More Value- The three stages of developing your business are Creation, Communication, Delivery.  At first, you have to develop the product or the services after that communication with your consumers about your product and services and tell about the pricing strategy, market your product and deliver your stuff with high quality.
  • Price Strategically and Not Opportunistically- The pricing should be based on the quality of the product and sell those things to the targeted audience.  Some people never see the quality or the efforts of the employee they just buy the product based on pricing.  Never change your pricing strategy for them.  Find your core audience who see the quality and the work of your employees.

Improve Your Branding

This is the right time to improve your branding.  Here I mentioned five techniques to improve the branding of your company.

  1. Communicate with your consumers
  2. Highlights the strength of your brand
  3. Update all your product and services on every social media platform.
  4. Promote your product

Wrapping Up

  1. Always be connected with your consumers and with your employees.
  2. Recognize and Appreciate the work of your colleagues.
  3. Build the best pricing strategy for your business.
  4. Improve your site branding on your own or with the best digital marketing agency.
  5. Keep your consumers updated with your works.
  6. Celebrate the parties through the virtual mediums.

11 پاسخ

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