The COVID-19 pandemic has transformed industries and businesses in unprecedented ways. We saw a shift in consumer habits with an influx of consumers shopping online and buying only essential items or services. In order for small businesses to stay afloat amid the pandemic and work toward success in the next normal, entrepreneurs have had to adapt to new and lasting consumer habits.
Here are four ways you can pivot your business to meet the needs of new and loyal customers.
Update your business plan to adhere to new market needs or customer trends
The current economy has made consumers more conscious of their spending habits, so now is the time to identify current customer trends or new market needs. For instance, some small businesses saw more demand for professional cleaning services, delivery companies, hobbies or games; these unique industries have created gaps that big box businesses can’t always fill. I worked with one small business owner, Averill Bromfield of Averill’s Sharper Uniforms, who added COVID-19 protective products like face masks and protective barrier “sneeze guards” to his inventory.
There are opportunities for small businesses out there who are willing to be flexible, and able to step outside their comfort zone. As a small business, if you have the resources in place, consider pivoting inventory or services to meet consumers’ demands, even if it is only temporary.
Strengthen your online presence to increase brand exposure
With more consumers turning to e-commerce and relying on websites for the most up-to-date store information, now is the perfect time to update your website and focus on developing your online presence. Having a clean and easy to navigate website is essential in attracting new site visitors and creating loyal customers.
Your website reflects your brand and establishes you as a trusted service or business. Customers expect that your website is frequently updated with accurate contact details, store information, COVID-19 protocols your business is following and accurate details about your services and inventory. Putting time into your website will ultimately separate you from other businesses by building a trusted brand.
Leverage new technology to ease business operation costs and time
As a small business owner, you wear many hats. Whether you’re doing sales and marketing one day or finances and inventory the next, you don’t have to do it all and you don’t have to do it alone. Outsourcing or working with a trusted partner can help ease costs and save you and your employees time and energy. For example, if you manage a business-to-consumer company, consider implementing tech for contactless payments or delivery.
Leveraging technology can help streamline business processes and build customer trust without overextending yourself or your employees. Having an integrated inventory management system can ensure you have enough products to meet consumer demands and fulfill orders. Using a trusted partner company to create a clean-looking and certified secure site is also important. Building customer trust with technology doesn’t have to be complicated, but it is necessary.
Launch an e-commerce store to complement existing services
Another way to pivot during the pandemic is to launch an online store to complement your business’s existing services. Businesses that rely on customers being physically in their store, such as salons, restaurants, and other service businesses can benefit from selling complementary products and services online.
Being able and willing to pivot your business in order to stay afloat has proven to be one of the keys to success for small businesses across the nation during the pandemic. You don’t have to do it alone, as looking to trusted partners and technology can enable you to come out stronger than before.
About the author: As a senior business advisor at Yahoo Small Business, Maria Melo has been working with new and established e-commerce merchants for over 20 years to help them grow their businesses. Maria has also spent over 14 years working with her family in their brick and mortar retail store and is part owner of her own retail wine shop with her brother and sister