10 Steps For How to overcome your company’s loss under the Corona virus
Corona virus as we know is starting to grip the whole world, and some businesses owners are become fear about their companies.
But actually if we thought very well we would find that we have a big chance to change the way we use in our business management.
We can use the chance to put a new plan with reasonable cost.
So, How to overcome your company’s loss under the Corona virus?
Here we can offer you some steps and solutions to recover your business one more time.
- 10 Steps For How to overcome your company’s loss under the Corona virus
- Don’t fire your staff
- Reduce your stock
- Engage With Your Customers
- Start Making Offers
- Turn Your Products Into Services
- Exist Online
- Switch to Online Sales
- Increase Your Productivity
- Think Ahead
- Pay Attention on Social Media
Don’t fire your staff
It is not fair to fire the staff of your company so that reduce the employment, you can rearrange stuff tasks and make every one of them responsible for many things.
Reduce your stock
- Second: You can reduce the stock within this period in order to save the money (that is if you sell products need stock)
- Third: Now is the time to engage your customers online on social media platforms. You can engage your employees in taking the business online .Also, you should participate your clients and make them interact with you through chat bot on the website or in the Facebook
Start Making Offers
Forth: Start making offers and discounts in order to attract the customers to your products
Turn Your Products Into Services
- Fifth: Turn your products into services: If possible for your business, you can take the service and convert it into a product to sell it online and make money
( this is according to Growth hackers website)
- Finally, you have to be exist more and more online, in social media in google and on any websites and forums, so that fetch more clients and make them know you very well
Switch to Online Sales
- According to Harvard Business Review, companies like Lin Qingxuan in Wuhan had to close the majority of their stores. But their team of beauty experts leveraged the digital space by engaging customers online and boosting sales. With a witty change like this, the company achieved a 200% growth as opposed to the last year’s sales.
So if you are selling offline only you have to think again of how to make a plan to spread online quickly.
Increase Your Productivity
- This is the best time to develop new procedures and services which you might not have gotten time for before. Take ideas from your team member and you will be pleased to see their response. Experts also suggest working more hours with a smaller team than the other way round. Many companies were sceptical about remote work before this crisis. However, now when businesses are forced to work from home they are finding workarounds. It is crucial to keep your productivity high during coronavirus. If you are falling short of resources you can leverage chatbots for redundant tasks as chatbots to stay in-game due to less staff.
- In uncertain times like this, you should treat your customers such that they stick around when everything gets back to normal. If you need any assistance with your business you can leverage Live chat for lead generation. The Live Chat option can easily generate leads for you while you focus on the other aspects of your business. Stay connected with your customers and keep your vision clear for the days to come.
Pay Attention on Social Media
Every one in quarantine open Facebook, Instagram, Twitter….etc.
Source: Growth hackers
You should know that after following these excitement steps you will overcome your company’s loss under the Corona virus
The most business sectors that have been negatively affected because of corona virus
Corona Virus affected negatively on many businesses sectors like the sectors of aviation, tourism, hotels, and conference organization which have very violent and rapid effects. It is likely that losses will be estimated in billions, pointing out that the rest of the sectors have been affected and will be affected in varying degrees.
The Affection of Coronavirus in Gulf Area
Also, The presence of the virus affects the Gulf economy in more than one sector, especially the tourism and travel sector. What makes the matter more dangerous is the oil price war that Saudi Arabia is fighting against Russia, which led to a drop in oil levels to $ 30 a barrel, which put pressure on the profits of the petrochemical sector companies
So all of these sectors started thinking about reducing expenses so that save the most amount of the profit.
Finally, we wanted here to shed light to some points in order to any business restore they activity again .
Know More about our vision and offers we made in order to help your business to recover your business activity through reading more of our blogs