As business owners or executives, we are worried about the impact Cononavirus Covid-19 will have. Putting aside the fact that we must all do our part to help flatten the curve, which is to minimize the spread of the virus, we must also continue to pay salaries and put food on the table.
The chaos of volatile stock markets, continuous closures of events and community facilities, and schools is keeping us from being able to wrap our heads around a plan to ensure our businesses are still okay.
We started by awkwardly looking for alternatives to greet each other, whether it was our colleagues, partners, or clients.
But we have moved on now to avoiding meetings altogether. The safest approach is to avoid any physical social encounters, which means that shopping, business meetings, and trade shows have stopped almost completely.
The economic experts have agreed that a recession is inevitable. What does this mean for your business? How can you minimize the impact?
If you are a B2B (business-to-business) business, your clients are evaluating their position as well. They are monitoring their market’s behaviour, and evaluating their costs. You may also be experiencing supply chain disruptions which prevents you from delivering on existing business.
If you are a
B2C(business-to-consumer) business, your customers are not coming to your bricks-and-mortar shop anymore, and we do not yet know whey they will return. They too are anxious about spending - those who are paid hourly are unsure of their income, and others are weary of the inevitable recession.
Worst of all, we really don’t know how long this will all last. The Coronavirus Covid-19 is new and unpredictable. Though new information is available each day, it can be conflicting and we don’t really know who to believe.
Because of this, we are trying to avoid making decisions, we are unsure of what to do with our inventory, we don’t know if our clients are able to honour existing contracts, and we are worried about making payroll.
Stay “top of mind” for your clients and customers so that they know you care, they will continue to engage with you digitally and they will return in full earnest when life goes back to normal.
Here is your messaging checklist:
Do you have any questions on the above, or would you like to share your experience? Just email ideas@mawazo.ca or call +1 (833) 503-0807.
At Mawazo Marketing we work with owners of B2B companies who want to accelerate their business. We help them with a concrete digital growth plan, a website that saves operational cost, and a digital marketing system that generates leads. For qualifying clients we offer a 5x ROI guarantee: if we don't reach the objective, then we pay back the difference. Book a Free Strategy Session to find out more.
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