With the current global health crisis, businesses have been shut down temporarily until the pandemic caused by the novel coronavirus has passed. We have seen thousands of plants, factories, brick-and-mortar shops, and restaurants worldwide cease operations over the past couple of weeks as a safety precaution.
The threat of the COVID-19 pandemic is affecting not just the world’s health but its economies, too. In light of the health and financial crises we’re in, business owners and top-level executives are doing their best to mitigate the virus’s effects economically.
Adapting to the Current Situation
Different companies have different reactions to the virus depending on their location to their nature of business or industry. While not all industries and businesses will adapt well to the world’s situation right now, a huge commonality within many different industries is having the opportunity to work from home.
A huge percentage of the world’s businesses already have some sort of online presence. A lot of them have their own websites, blog sites, and social media accounts. They utilize online surveys to get customers engaged and provide feedback and recommendations.
Some hire the services of a reputable business video production company to produce engaging video material for marketing and promotion. Others seek out the services of online content marketing experts to strengthen their online presence.
In this digital age, many are now turning to the internet as a temporary means to keep their businesses afloat. Some businesses have the infrastructure to allow their workers to work from home. Others who are not as fortunate resort to online freelancing jobs or start their own virtual shops.
Meetings are done via webinar apps such as Zoom. Transactions and payments are made through portals like Paypal. At this point, technology has come to our rescue.
Unfortunately, not everyone has the privilege of working from home. Those who have blue-collar jobs or paid by the hour do not have the privilege of bringing their work home. Most of these folks are picking up new skills to help make ends meet. Some of them have turned to online selling or teaching while others are getting freelance work online.
People are starting to get creative just to have some form of income to provide for their families’ needs. In a time where people are worried about essential things, like food, medicine, and other basic supplies, companies that offer non-essentials (such as pajamas, lingerie, toys, gym wear, and others) are taking a step back to keep an empathic stance.
Instead, they have become more actively engaged online to stay connected to their market. This way, they’re not pushing their products down the consumers’ throats which shows genuine concern.
Experts recommend non-essential companies and businesses to not do any blatant calls to buy their products. They should instead just use social to stay in touch with their market and to get more personal with their fans and consumers. This act shows a greater understanding and sensitivity to what people — the consumers — are going through. Sometimes, the best way to market your brand and product is to just be personal and not market anything at all.
Thinking out of the box while still maintaining empathy to your fellow man can place you at the forefront of people’s minds.
As we go through unchartered territory where we are still searching for ways to deal with what’s happening, learning how to quickly adapt to the present situation and roll with its punches will help get you through.