The Best Semalt Strategies To Help Your Small Business Get Out of Global Economic Recession
COVID has fundamentally changed our way of life. Businesses who were previously thriving just six months ago are shuttering their doors permanently. It is a sad sight for consumers and a scary sight for small business owners.
But this does not have to be the reality.
If you have sustained your business up to this point, you know that every setback is an opportunity to be better than you were. This global pandemic is no different. You might have to think outside of the box to succeed.
So, how can you help your business get out of the global economic recession? The answer comes with a combination of cutting the worst and ramping up the best strategies. You will have to be incredibly focused on your high-performance accounts. Also, you are likely going to want to address your marketing budget, but you do not want to decrease it.
You will also want to develop your digital offerings. Many people will not want to go in-store in the current recession. You may need to go as far as to re-evaluate your entire employee base. While COVID has given us time to reflect, it has also reminded us that we need to keep going. Below, we will be going into detail on various strategies.
Develop Your Digital Services or Create an Online Presence
This recession is born out of a pandemic. As a result, it is more necessary than ever to have a digital store. Whether you be a retail company or someone who offers a service, there are ways to create a digital store. If you do not have a website yet, it allows you to start fresh. Otherwise, we will provide you with a list of web hosts that may help.
Wix is a professional-level full-service website that has powerful applications. These apps can allow you to be a powerful e-commerce platform that includes built-in direct mailing campaigns, scheduling applications, and on-website pay options.
As a result, it is an excellent way that people will be able to schedule your service without leaving the house or calling in. Imagine if you offered a lawn mowing business for large properties, this allows people to program various packages you may provide.
For example, you could have a one-acre option that will take your team two hours to complete the job. They can also choose large amounts of acres, or hilly locations, or weed whacking, or other potential services. Wix scheduling and eCommerce applications have potent tools for service industries.
Retail organizations may prefer the powerful Canadian eCommerce platform known as Shopify. Shopify is another fantastic tool that is for quickly establishing online platforms. If you already have the product, you could feasibly have your store up in minutes.
Shopify has a great list of businesses it supports. They boast having over one million enterprises who trust being on their platform. Below are just a few examples of the type of eCommerce you could pursue.
- Retail products
- Subscription boxes
- Online or offline classes
- Events (ticket sales)
Squarespace is the perfect platform for those who like good design, but cannot do it themselves. Their eCommerce platform, Squarespace eCommerce, is ideal for making your products look good. They have an extensive list of templates that will help you look unique. Various uses for their platform are listed below.
- Scheduling appointments
- Building mailing lists
- Making announcements
- Embedding Google maps information
- Having an on-site purchase page
They also boast having flexible payment options, which is appealing for consumers and business owners. Their mobile application is also a bit more approachable than Wix’s, which may appeal to some of us who are in love with mobile apps. Regardless, any option on our list will work well for your business.
Establish and Market Your COVID Plan
Businesses who follow their COVID guidelines should be respected. If you are a small brick-and-mortar store, you need to have an established COVID-19 plan for entrants. These include limiting the number of people in the store, having masks, and placing marks every six feet. In this recession, it will give your company more than you think.
This is where your marketing comes in.
By establishing your Coronavirus strategy, you are putting your customer to the forefront. You are going to want to build this by putting it on your website and your storefront. You will also want to create a few blogs regarding the topic, giving you the ability to rank for searchable terms. You may wish to have these terms specify your location if you have a physical location.
Be Assertive, Be Hungry
If you want your business to succeed, you need to want it. Regardless of you having a physical or digital enterprise, you need to push your business. By ensuring that you and your team believe in your business, they (and you) will press hard for what they want. It was a fact before any economic recession.
If anything, the recession has higher demands out of your business. It isn’t time to go to sleep; the best companies know how to navigate a recession. Below are some quick tips and reminders on being assertive and hungry.
Connect and Maintain Relationships
A good leader will make himself available. This availability applies to everyone in their organization, their connections, and the company’s clients. The point is to maintain these connections with continued check-ins. It is especially helpful during a time where personal relationships can be challenging to manage.
By continuing to be available for those who are important to you, they will recognize this. This strategy makes it easier for you to maintain influence. It gives you more considerable resources to take on challenging tasks.
Lead By Example
A great leader will be the first to test their idea. If they believe that the best way to get a client is through door-to-door sales, they will continue to be out there. These leaders may not be out there with the same frequency, but the continued involvement displays them as humble. It also gives the leader a greater appreciation for the perspective of the regular staff.
This strategy applies regardless of what team you had. You will find that successful companies adopt this strategy often. Good leaders come from within the organization many times. At the very least, they have experience in the industry.
Always Be Collaborating
A good leader looks for opportunities to collaborate with their peers. By sharing a willingness to work with others, you are more likely to gain their respect. When you appreciate the importance of other perspectives, it allows you to improve the project significantly.
Of course, you will need to find those who fit the needs of the team. For example, it doesn’t help to find someone who has a background in marketing if you already have 17 marketing specialists in a small group.
Focus On Your Best Clients and Strategies
Good businesses will have a list of the most consistent accounts and strategies that work for them. By placing the more significant portion of our effort towards this, and similar clients, you will find greater success. These are the strategies that have a proven track record of success.
This strategy doesn’t mean that you should take all of your money from more risky platforms. Many of these could have the potential of high payouts. The most challenging clients may require a re-evaluation of strategy framed around COVID.
By having a frank discussion of this, it allows you to go back to your best strategies. Apply these strategies firmly to the best clients, and they will respect your offering. It may not always result in a sale, but this is not necessarily a loss if it is beyond your scope at this point.
Cut the Worst Performers
While it may not be the most enjoyable conversation, it may be time to consider how big your team needs to be. You may have to fire some people.
It is never an easy process. You never want to tell someone that you are deciding to affect your employee’s livelihood. However, difficult decisions may come up during this time. It is your responsibility as the business owner to make those decisions. The alternative may be sacrificing everyone’s paycheck for the sake of a few.
Do Not Forget Your SEO
In one of our other blogs, we discuss the importance of SEO during COVID with greater focus. We suggest reading over that article, but we will give you the short version of that in this article.
SEO allows you to create a natural, long-term growth if applied correctly. Our other article emphasizes building timely information with appropriate keywords that will draw people to your website. You can also focus on producing evergreen articles, which are articles that will create more sustainable site traffic.
Finally, some of that marketing budget should be for online SEO application. Semalt has a variety of platforms that will assist you in these matters. Semalt can also help you in advancing your eCommerce platform.
The recent memory of recession still stings for many of us who are old enough to remember its impact. Given COVID, the return of a recession seems almost inevitable. As a result, it is essential to have a strategy in place.
This recession is unique in that it is from a pandemic. As a result, enhancing your digital platform or brick-and-mortar platform is essential. For some, this will mean establishing a first eCommerce website. This establishment is a daunting task for those without experience.
Regardless of your industry, all business owners will have to fight for their clients. Many may be scrambling for the scraps, but by focusing on your successful strategies and remaining as an assertive leader, you have the potential to push your business beyond this.
Finally, it is important not to reduce your marketing budget. The reason for this lays with remaining on the forefront. Other companies will be happy to fill the slot you are unwilling to fill. Instead, apply some of that budget to a sustainable SEO campaign.
As the recession ends, you will be on the path to producing timely content which can be boosted by Semalt’s guidance. For further information, reach out to an SEO Specialist today.