Make your business vital in the new digital economy
We will all be challenged in the months and years ahead. The coronavirus health crisis is upon us, an economic crisis is developing, and a mental health crisis is looming. After addressing the immediate needs of food, shelter, and healthcare (to the limited extent possible) for ourselves and those around us, it's time to take action and put your business in the right position for what lies ahead.
In the coming weeks and months, budgets will be drastically reduced by most consumers and businesses, with frivolous and unnecessary items being the first to go. Vital, highly-valued items will remain - and those may not be as obvious as they were in the pre-coronavirus world.
Take time to consider how the everyday lives of your customers have changed, how the operations of nearly every business have been altered. Consider the second-order changes that may be coming in the months ahead.
If your business isn't vital in this new version of the world, it's time to adjust - quickly. Find ways to address the concerns of your customers and clients. Re-position your business and make it extremely clear what you are doing differently to help them at a time of need.
Reach out to customers and clients to let them to show compassion and then tell them how you will help. Use existing communication tools and platforms, then find ways to innovate further.