Business Development and Profitability Strategy During Pandemic 2.0
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Since March 11, the outbreak of COVID-19 has reached a pandemic level. A pandemic level got a viral disease that spread very quickly geographically. The first coronavirus information came from Wuhan, China, in December 2019, and therefore it has such a number.
To date, it has spread across the globe and is the cause of respiratory diseases with severe complications and mortality of 21%. This virus is new, and there is no vaccine for coronavirus.
The leading world powers have announced quarantine in their territories, and this due to destructed communications will cause enormous damage to their economy and high human cost. The world’s largest giants, such as Google, Amazon, and Microsoft, are moving their employees to remote mode. Thousands of employers of other smaller companies do as well. World business is on the verge of a global crisis caused by coronavirus infection, and here begins one of the greatest experiments in its history where only those who managed to adapt to the new realities of doing business can survive. After all, those who have successfully transferred their business to remote mode most likely will not return to the old office version.
What Is The Coronavirus
Coronavirus is a whole family of viruses, including 39 strains. Under the microscope, their sheath looks like a corona. Hence the name.
The result of coronavirus transmission and infection is often the occurrence of a severe acute respiratory syndrome, turning into severe pneumonia and death. Other coronavirus symptoms include various pains, nasal congestion, pharyngitis, and diarrhea.
According to coronavirus news received from the Center for Systematic Engineering Research at Johns Hopkins University solely in the United States, now there are almost 1 million confirmed cases (~966 000 persons) and the whole number almost reached 3 million worldwide. Among the recovered are 883 thousand people and over 206 thousand deaths globally as there is no confirmed coronavirus vaccine yet.
Doing Business During A Pandemic
Quarantine dictates new game rules for entrepreneurs and their daily lives. Establishments, where clients were a week ago, are empty today. And earnings of companies, if any, are minimal.
What will you do if the Internet disappears? They asked! No one expected that everything could turn in a radically different direction! How who already working remotely leads the way.
Despite a whole package of government help for business, small and medium-sized businesses in the United States are in a very difficult situation. Experts agree on one thing: no matter how the situation with the COVID-19 coronavirus develops, there is no reason to expect a quick recovery in the economy and consumer demand. Therefore, entrepreneurs will have to decide how to live.
One of the most obvious and effective ways is doing business online. Here you need changes in the format of administration and sales via the Internet, which will reduce costs and maintain revenue at the proper level. Perhaps this will require a reprofiling of the business. Experts recommend closing unprofitable areas and focus on new promising areas, considering the risk of COVID-19 infection realities.
Key recommendations of experts in doing business during the pandemic:
This list is something that we recommend:
- Do not make sudden movements or impulsive decisions about which potential impact you may regret later.
- Rationally distribute resources, check how the employees deal with the online sales daily. You can also use online tools to coordinate work within the team. It will a good idea to hire a remote project coordinator for our company. Such a step will allow focusing on the anti-crisis strategy in the company.
- Do not invest in dubious startups, since there is no need to wait for a quick payback on the background of crisis. It is better to invest with funds in expansion, hiring outsourcers, and improved optimization of work in the company.
- Reassure your team. You must explain to the people who work with you that now is the time to mobilize and make the home working effectively.
- Now is not the time to make expensive investments and launch large projects. But now is the time to advance online: creating or updating a site, finalizing your internal CRM system, or enhancement of internal business processes.
- Increase the level of service of the company, the speed of response to applications. It also works to improve telecommunications. Make sure that the client does not think to refuse you.
- Speed up logistics. Front desk helpers is a provider of dispatch services and custom made dispatch software. These services include truck and courier dispatching, locksmith support, and online software for dispatching needs.
- Look around. Watch. Make sensible decisions. A crisis is always an opportunity and period of new effective methods of online sales and service.
Many people are already turn on the saving mode in life and business. You should do the same. The level of consumption must be moderate. Just be careful – do not save the budget on marketing and development.
Perhaps when competitors paused the business, it is time to start working from home, use new video conferencing tools, and implement new telecommunication technologies to your business processes and work on marketing and sales initiatives. Start changing now, before it is too late!
Working From Home: Getting Your Employees For Remote Work
Now is the time to think about how to sell products on the Internet. After all, a transition to digital technology is always an opportunity to make more in the future. And the larger the competitive wars become, the more professional approach to doing business should become.
Here is a step-by-step algorithm for introducing a new business model:
1. Hold a strategic session at the company.
Clearly formulate the development plan implementation of a new project to create a business in the network and start online sales.
2. Define groups of goods that can be sold over the Internet.
Firstly, these should be products which sale through the Internet does not lead to a loss in their quality.
Secondly, it is advisable to present exclusive products sold by your enterprise or to form a unique selling proposition and to isolate yourself from competitors.
3. Determine the portrait of the client for whom your potential online sales are designed.
This will also help to understand how to sell products online (for example, this can be goods for those who now at remote work due to coronavirus pandemic). Describe customers’ needs and begin to formulate a comprehensive solution to their problems.
4. Build a promotion strategy on the Internet. Find a clear promotion algorithm based on the portrait of the client.
What steps to take to improve the effectiveness of website promotion, you will be advised by Front Desk Helpers professionals in the field of SEO-promotion. It is here that the joint participation of a third-party organization and an existing marketing department is necessary.
5. Realization of a business idea with minimal investment.
Here, when forming a number of offered products, an approach that does not require large investments is possible – ordering from Front Desk Helpers the development of a one-page selling site (landing page) and digital security service for it.
6. Expect the effectiveness of the investment project to organize an additional line of business, such as online sales.
Here you should consider:
- providing the remote digital access to your employees
- additional remote working employees involved in this area;
- cost of virtual assistant and website support;
- cost of additional services (logistics, packaging, remote employees) when selling your goods to the end-user.
This model of implementing a new direction can worthily claim to scale at minimal risk, and this makes such a solution the most acceptable for maintaining the profitability of the business and for the health preservation of employees.
Business And Innovative Technologies In A Pandemic
Specialists from Oxford Economics have estimated that in 2020 the global economy will suffer trillions of dollars due to COVID-19 losses. This will happen as a result of a decrease in the number of tourists and business trips, disrupted supply chains, canceled conferences, and a general reduction in trade and production shutdown. Also, an important factor in these losses is a decrease in labor productivity as a result of the illness of employees or being on self-isolation. For this reason, many companies are rapidly reviewing their policies in favor of remote work, which is immune to the spread of COVID-19.
Collaboration
The remote working can bring both profit and exacerbate the situation in case of poor organization. The bad communication between employees can turn into a natural disaster and is one of the most common problems in this situation. People in business can use a huge number of applications for creating effective conferences and for exchanging messages between corporate clients, as well as for statistics and data retrieval. If for some reason, the existing options do not meet the needs of the business, then you can always order an inexpensive custom model from Front Desk Helpers.
Digital Transformation
Every day, one way or another, a U.S. citizen is faced with a business that has suffered a digital transformation. A person orders a taxi through the application, uses the services of banks that exist only online, pays bills through the terminal. Things like smart home and an artificial intelligence drone a few decades ago were ridiculous. And now these are the common things.
IDC believes that in the near future, more than 40% of all technological costs will be spent on accelerated digital transformation, and this is a real wake-up call for an organization that still remains offline.
This process will include the transformation of the business through the introduction of innovative technologies and the deep adaptation of business models to a new strategy and wider use of data.
Innovation
We live in a time when innovations can be met literally around every corner. The central role of technology in the modern world cannot be overestimated. Every business person is looking for the perfect recipe for dealing with business operations, and digital technology provides a very large field for experimentation. High-tech project management systems provide the opportunity to implement flexible methodologies. You can turn to the cloud technologies, IP telephony, or get remote workers from Front Desk Helpers staff. Today’s investing in digital business is the constant testing of new areas, the use of new products, and the implementation of radically new solutions.
Thought Leadership
The work of a team of remote specialists is often far from transparency. All possible pitfalls can come up shortly before the deadline and sometimes have disastrous consequences. Without transparent cooperation and well-thought-out control, it is very difficult to get a complete picture of the state of the project.
In order to eliminate this problem, all remote specialists should work in a clear pattern of typical tasks and projects, with phased reporting of all actions, as well as with a full understanding of their responsibilities. Such a strategy will allow employees to be more productive and help the manager creating an action plan with the possibility to see the real status of the work and understand who is responsible for each task.
Online Security
Problems with e-security are probably one of the main reasons why many offline businesses are afraid of business infrastructure optimization and transferring employees to remote work. Employees have access to confidential company intellectual property data from their home devices. Communication lines, in turn, are not adequately protected to eliminate the possibility of information leakage completely.
That is why even small business owners need to take all security measures to work with their remote employees. This, for example, can be a virtual private network for use in open Wi-Fi connections or malware protection software common to all employees, constant technical support, and so on.
In order to learn more about all the possibilities of online security, you can contact the Front Desk Helpers consultant for free, and one will explain what exactly should be implemented for defense against cyber intrusion.
How To Go Digitally Remote Business During The Coronavirus.
Now you can see the picture of the rapid transition of the business into digital. With the coronavirus pandemic, life did not stop. People have money, and they will still find ways to make new ones. Also, they will need places where they can spend them. People will still order goods and services, but doing it all online. Many restaurants that did not deliver before now do this and have their own applications for this, theaters broadcast their performances online, and conferences and exhibitions also go there (online). Everything now becomes digital.
Companies that just want to withstand the siege of coronavirus have the risk of losing a huge portion of their audience and stop being competitive. That is why if you have not yet begun to think about new digital workforce collaboration tools and turning to online, then now is the time to do it.
Consumer demand is changing no less rapidly than the situation in the global economy. People massively buy things for a comfortable life when they are at home for a long time. This can be a variety of household appliances, a stand for a laptop, a comfortable chair, and so on. Something that before COVID-19 pandemic was ignored, now with remote work, becomes a kind of vital necessity.
The consumption of content, the sale of gaming applications, children’s toys are also growing rapidly. After all, people want to entertain their loved ones and not forget to have fun themselves. Perhaps these factors should be considered for those who want to redirect their business in a new remote mode.
The audience of customers is also changing rapidly since there are now a lot of people over 60 years old who went online. After all, it is they who are in the main risk group for a coronavirus pandemic. And it is they who are at maximum self-isolation and therefore most of all require products for a comfortable stay at home.
However, such an audience has its own needs, and when working with it, certain nuances of communications must be considered. These people do not like to Google for a long time. These people do not write to chat. They do not like to order products online and fill out profiles. That is why in order to reach this audience, it is worth betting on call processing and analytics.
Front Desk Helpers can provide VoIP telephony collaboration tools and specialists who will search and process clients from this target audience. It is also possible to order the creation of special content that will be understandable to an audience of 60+ age.
This is a fundamentally new market, which was previously not massively processed online, but now immediately, millions of new consumers are ready and in need of your services.
The next list of services and technologies implement marketing strategies online competently with Front Desk Helpers
Get the clients to your side implementing the next list to your business:
IP-Telephony
Conversation remains the main way of communication between two people. At the same time, standard calls will be very expensive if the project participants live in different cities or countries. In addition, not all lines support conferencing, which also becomes a serious problem to work coordination. For this reason, Front Desk Helpers company will help you to implement VoIP technology in order to increase coordination between your employees and reduce communication costs between them.
Messengers
This kind of application is a great way to exchange information. Through messengers, you can send a lot of accurate data such as links, fragments of program code, or text. Messengers protect history, so if necessary, you can easily turn to the information that has already been transmitted.
The choice of such applications is huge, but if necessary, you can always order the development of software with better secure remote access and more advanced functions from us.
Online Presentations
The whole range of functions is rarely necessary for a particular project, and therefore modularity is an important property for this group of software. For example, it can only be a calendar, used just to track the implementation time of a specific task.
There is also a great variety of software used to create effective web conferencing. With its help, you can conduct teleconferences and remote presentations. And don’t forget to hire a virtual assistant to manage all this work!
Digital Platforms for Project Management
The digital platforms allow the manager and department heads always to be well-informed about the implementation of ongoing projects.
If necessary, current tasks can be effectively changed and controlled at a deeper level. All data will be collected in one place, which greatly facilitates the process of working with it.
Cloud Technologies
Cloud technology is a great solution to reduce the cost of remote access. In this case, the data will not be stored on a specific digital device, but on the cloud where you rent a place and services, but at the same time, there are no costs for the purchase of equipment and its maintenance.
Thanks to cloud technologies, your employees will always have access to important programs, business assets (if required), and other data, because, for this, they only need to connect to the unit.
An economic crisis is always scary, but coronavirus pandemic is also a time and a chance to implement the most ambitious decisions on the labor market. The largest companies in the world are already speeding up using remote collaboration. Freelancers and remote workers are at a new level of understanding. And even when the pandemic ends, the transformation to remote business will remain in a very big trend. Do not miss your chance of success, and Front Desk Helpers online services will help you with this.
Learn more about Coronavirus:
Coronavirus: Business Development and Profitability Strategy During Pandemic
Important information! Coronavirus (COVID-19) personal protection
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