It’s a fact that the world’s economy slowed down. The quarantine measures that countries implemented to combat COVID-19 were keeping people indoors and keeping purchases to a minimum. Despite promised financial assistance from the government, many small businesses were desperately searching for ways to stay afloat as we all weathered this storm together.
Unfortunately, there isn’t a one size fits all formula for surviving a crisis that will work for every business. Companies will need to find the solution that works best for them, but we’ve created a list with some ideas that should help get any business started.
Social media is a must
Social media was at an all-time-high. While everyone around the world was cooped up inside, all the action was on platforms like Instagram, Facebook and Twitter. During a crisis your audience is now looking for information in the most convenient places, not to mention online shopping and saving posts to make plans for when the quarantine measures were finally over. This is a prime time to target your audience and ensure that relevant crisis related content about your business is reaching them.
The most important thing to realise right now is that audience behaviours have shifted, and this can work towards boosting your business.
When everyone was at home (no commute-to-work necessary), the peak active times across all platforms shifted. This means that evenings are not necessarily the best time to post anymore. Take a look at your account insights and see which times your audience is most active. In our experience, we‘ve found that around 3pm, 6pm and 9pm yield results.
The most important thing to realise during a crisis is that audience behaviours will shift, and this can work towards boosting your business. People are looking for distractions from their day-to-day quarantine life. This means content that relates to this shared experience and uplifts is a great way to spread brand awareness.
Want to learn more about marketing in a crisis?
Connect with your local community
A crisis is a time to come together, especially for small businesses. Working in a co-op structure will help boost your collective revenue and traffic. Scout out complementary businesses and see what you can do to offer your customers the best prices, the most convenient services and the best customer experience.
There are some fantastic businesses out there that were helping customers and companies connect to meet shared needs during COVID-19. Check out Dornbach Networks and Metropole if you‘re in Vienna. In the broader Austrian region, check out Falter, Goodity or Shoepping.at for where you can get goods and services locally.
Looking more broadly, there are organisations that are here to help within Europe. Co-ops Europe has a list of resources categorized by country to aid small businesses. In France, an agricultural co-operative is connecting local providers and communities. In the UK, you can find a local co-operative near you for everything under the sun, including businesses like The People‘s Market.
Get ready for now and after the storm
There’s a lot you’re going to have to think about even after the storm has passed. The effects on the economy and the world at large will be long lasting, so it’s important to have yourself and your business organised to handle this when it arises. We’ve aimed to make this as easy and as streamlined as possible in our Knowledge Hub, which has resources every business should know when it comes to crisis communication.
Of course during this trying time, as a business you may need to find more staff to fill new crisis response rolls. If you‘re looking for new employment, this will also be an area where you might find challenging in the current circumstances. There are job sites that are making it easy to find new staff or look for a new job. Try Still Hiring for all the companies that have open positions and job vacancies, and also look at Candor for all the companies not hiring during the crisis.
Online there are plenty of free or discounted resources that you can make use of to bolster your business. Everything from free remote tech solutions for companies to discounted internet. Check out the information box below to see what best applies to your business and what’s available in your area.
Initiatives for Businesses During COVID-19
Globally:
- Open Solutions: tech solutions for every company free-of-charge.
- UpEffect: crowdfund without a signup fee.
- Flock Cover: providing £10,000 worth of free insurance to organisations using drones to tackle the virus.
- Scout Bee: free access to all services including supplying health and sanitation products.
- Swipe Guide: provides free online software for up to 6 months.
- Workable: provides free services for up to 3 months for remote hiring.
- Way to Passion: help and support for NGOs and sustainable start-ups.
Europe:
- SumUp: easy mobile payments and invoicing without any fees during COVID-19.
- Open Solidarity: a free open collective where businesses can connect.
- French Government Support: for French companies seeking government financial help.
- Copenhagen Government Support: various packages for startups and entrepreneurs in Denmark.
United States:
- T-Mobile: offering free data for companies in response to COVID-19.
- Go Fund Me: small business relief initiative that businesses can participate in.
- Amazon: small business relief scheme.
- Donate 4 Sacramento: the Californian city has set up a campaign to raise money for local businesses.
Keeping your small business afloat during a crisis is a mammoth task. It’s a monumental effort that will, if anything, help your company to be even more robust in the end. Connecting with other local businesses around you will also help raise the efforts and share resources. Starting with these ideas, you can figure out the nuances for your business and create new, innovative strategies to overcome any obstacle.
Looking for an experienced partner to support your business strategy in times of crisis? RDB is here for you. Let’s get in touch.
