How Has COVID-19 Changed Your Business?
Budgets are frozen. Events are cancelled. Consumer behaviour is changing. The sudden pandemic took us all by surprise in February when we were told to work from home or not work at all. 6 months later and some homes have become the new office, usual offices have adapted accordingly and others are struggling to find jobs. How did your company cope through the Covid-19 crisis? For businesses that have survived through the pandemic so far, there’s several ways that you’ll have to adapt to the new world.
The Internet Is Booming
When stores closed down and consumers swarmed to internet; the sales for online retailer’s skyrocketed. Online fashion giant, Boohoo, reported a 54% surge in pre-tax profits to £92.2 million for the year to February 29 as sales jumped 44% to £1.23 billion. However, fashion retailer Primark lost a whopping £800 million as a result of having no online presence and not keeping up with times.
Downfalls like Primark’s have proved that it’s crucial to optimise your digital presence and website home front to keep consumers engaged. Another important strategy to keep customers engaged and maintain loyalty is through social media. Instagram saw campaign impressions surge by 22% and daily likes on posted ads soar by 76%. Internet traffic reportedly went up between 50% and 70% during March. This gives your brand an opportunity to use improve SEO (Search Engine Optimisation) and PPC (Pay-Per-Click).
Working at a Distance
1.7 million employees have worked from home during the midst of the Covid-19 crisis. Some of us have had to adapt to working from home, relying heavily on zoom calls whilst others have had to remain distant in the office. Whatever the case, the temporary work from home placement has reportedly been damaging to workers mental health state. Looking out for your employees is vital in times like these.
Your business and other recruiters will also need to be reassess how your hiring processes will be carried out. Most companies have already incorporated Zoom interviews with online tests as a replacement for team assessment days. If your business is going to carry out interviews in person, you should avoid hand shaking and keep the 2 metre distance at all times. With work having to be more flexible, some business owners are also assessing the need of rented offices which could see a permanent move to working from home.
Consumer Behaviour Has Changed
With financial uncertainty comes uncertain business growth. Paid employment in the UK fell by 650,000 in July as a result of Covid-19. As we continue to fall into a recession, the public are likely to spend less. Whether employees have been furloughed, made redundant or been given reduced hours, they’re also more conscious about what they’re buying and will be wanting to keep money in the bank for rough times ahead.
No two industries are the same. Due to the health concern, the demand for holidays, clubs, festivals and other close contact activities has dropped or is still banned altogether. With people scared about their health. People only care about necessary items like groceries and household items. Businesses will have to be more persuasive to get people to buy from them. Will have to be careful not to trick people into buying unnecessary items. Allowing customers to pay using instalment services such as Klarna will encourage more sales and keep your audiences engaged with your products/ services.
Covid-19 Related Content
With Covid-19 taking up such a big part of our lives, it’s important to keep customers updated with relevant information. In particular, how the virus has affected your customers and their products or services. Information such as delivery times, stock levels and changes to stores such as opening times are also information that customers desire. Particularly with stores, ensure that any policies are clearly shown such as face mask requirements or limits on number of people per store.
This year has been strange and gloomy for all of us. Whether your business has taken a turn for the worst or needs a quick boost in its digital online presence, Snob Monkey has all the services needed for the right strategy.
Need help with your marketing? Contact Snob Monkey regarding any of our services including Social Media Management, WordPress Maintenance and Website Development.
Email: contactus@snobmonkey.com
Telephone: 0800 368 9336
Written by Katy Tran
