Home Business Insights & Advice Back to business: How can you compete after lockdown?

Back to business: How can you compete after lockdown?

by Sponsored Content
12th Jun 20 3:07 pm

As the weeks now pass, coronavirus restrictions are gradually eased – letting more companies get back to business. For some, it has been a long and challenging period of inactivity. And for most, Q2 2020 will be a write-off. Now, employers must contend with social distancing as they attempt to recover and rebuild. But how can you make sure you’re ready to compete?

Refresh your business model

Rethinking your business model is something that your business may already have considered or even implemented. If your business saw a sizeable fall in trade or was forced to shutter due to the restrictions, it may well have brought your business model into focus.

But it may also have been a window of opportunity with more time available to act.

One major pivot point during the lockdown is the increase in the amount of smaller businesses who now offer their products or services online. While this is one example of a move borne out of short-term need, could it be part of a long-term strategy that grows your customer base?

Know your customers better

Getting to know new and existing customers better can provide your business with the genuine competitive advantage you crave. This means finding out which marketing campaigns drive the most value – allowing you to better target potential clients and generate higher returns.

While online channels have their place, the phone is still an integral lead generation tool for lots of businesses. It’s why call tracking solutions from companies such as Responsetap are so vital.

It provides data that can help your business make decisions that are much more informed. The tracking capabilities can place exactly where phone enquiries originate – and revenue achieved as a result. More informed, effective marketing initiatives are key to getting ahead of the pack.

Stay in your customers’ minds

By getting front and centre of your customers’ minds, your business is more likely to be a first port of call. But it’s a delicate balancing act. On one hand, you need to promote your products and/or services. On the other, these are not normal times and your customers know this.

Some brands got it wrong during the lockdown. And doing so could prove problematic for when customers start to return. So, how do you get it right? By considering your marketing plan.

There are some new concerns to address – such as changing consumer habits and demands. If you operate out of physical locations, social distancing and the safety of your customers should be prioritised. It’s not so much whether you should be marketing, but how you go about it.

For businesses in London and across the UK, there can be no question about how tough it is at the moment. But the opportunities to succeed and grow are still there. With these three points as your starting point, there’s potential for you to emerge from lockdown in a stronger position.

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