5 steps businesses should take immediately for survival after COVID-19 situation outbreaks in 2020.

1. Make your internal business systems & processes efficient.

As the coronavirus outbreaks in the entire world, this is the best time of the year to improve your existing business systems & processes so that you can deliver high-quality products and services to your customers.

Changing the existing business process is not easy when a business is running at its peak capacity.

By improving your business systems & processes, you build repeat customers & increase their LTV.

customer stats in 2020.

  • It costs 5-6x more to acquire a new customer than to retain an existing one.
  • 30% of people return to a website they’ve already purchased from in the past.

Actionable steps:

  1. Analyze your past data and see how you can make your systems & processes more efficient so that you can deliver more high-quality products and services to your customers.

2. Improve your website to generate leads & traffic.

Improving your website to generate leads & traffic is a game-changer in today’s time when every business is down due to coronavirus outbreak. You have a chance to outplay your competitors.

Leads & traffic stats in 2020

  • 98% of website visitors leave without leaving any contact information. (No lead generation)
  • 90.63% of the websites don’t get any traffic from google. (No organic traffic)
  • 85% of marketing interaction between customers and businesses is done via non-human support, like a copy. (Copywriting is crucial)

Ask these question to yourself

  • How well your business website was generating leads in the past?
  • How many people come to your website from google’s organic search result?
  • How many people on my website leave their contact details like email, phone no. Etc.

Actionable steps: 

  1. Redesign your website (It will capture the attention of site visitors)
  2. Rewrite your website copy (It will generate leads/sales for your business)
  3. Optimize your website for Search Engine Optimization (SEO) (It will bring free traffic to your site)

3. Plan content for your customers.

Content marketing is a central part of doing business online.

People don’t go to google and search your business directly. People go to Google and search their problems.

Therefore you should write content about the issues your customers are facing. After all, if people don’t know you exist, then you don’t add any value to people’s lives, selling online may not be as lucrative as you’d like.

Content marketing stats 2020

  • Small businesses with blogs get 126% more lead growth than those without blogs.
  • 83% of marketers use content marketing to generate inbound leads for their business.
  • Inbound leads cost 62% less than traditional outbound leads.

Ask this question to yourself

  1. What problems are my customers facing?

Actionable steps:

  1. Plan & create blogs for your business.
  2. Plan your content marketing strategy.

4. Invest in learning new skills & technologies.

As a lockdown situation arises in the world, there is always scope for learning new skills & techniques for yourself and your employees so that you can use theses skills to grow your business in the future.

Learning stats in 2020

  • 75% of corporate learning is an online self-study and collaborative learning.
  • Only 11% of companies have a clear strategy for career development.

Learning a new skillset makes your business stand apart.

Without a facilitated talent mobility strategy, good people will most likely leave the company.

Actionable steps:

5. Manage your finances better.

Businesses that are wealthy, cash-rich, and who managed their finances wisely in the past will survive after coronavirus outbreak situation.

The key to run any business is to manage their finance intelligently to face any challenges in the future.

Stats for why businesses fail around the world

  • 82% – Poor cash flow management.
  • 73% – Poor financial forecast.

Actionable steps:

  1. Analyze financial data of your business & make it more efficient.
  2. Predict proper forecasts for your business finances.

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