The pandemic moved our world online at high speed. COVID-19 shook every virtue of work, life, and the balance between work and life. The question that arises is how well entrepreneurs will diversify and lift their businesses—adjusting not just for survival in the market but also for prosperity.
Once the entrepreneur realises the power of committing his/her customers digitally, they won’t want to go back. With the world facing struggling times due to the pandemic disturbance, several countries have come to a stand-still.
It has been predicted that the financial impact of Covid will be that of the global financial crisis in 2008. Most brands prevent a hit on their business due to the once-in-a-lifetime pandemic situation.
Are Startups Going Digital in Covid-19?
Here’s one significant aspect of the answer to this big question. The revolution of going digital that most of the businesses have experienced this year is here to stay. According to a McKinsey survey, 77% of buyers will continue using digital stands moving forward.
That doesn’t mean the entrepreneurs’ business needs to go solely virtual or that they need to create online offerings only. It does mean entrepreneurs should take up the alternative to add digital and online solutions to their existing offerings.
Adopting a digital revolution for now and forever is a modest way for entrepreneurs to curb their future weaknesses and manage new competitors’ space. This isn’t concerning going up against digital-savvy and technogeek competitors or spending a considerable amount of money on chasing new customers. Instead, it’s about multiplying down on the customers who already adore them.
Entrepreneurs can use technology to remind their customers what their company is about and why they are unique so that the entrepreneur can cite them for their loyalty.
Focus On Three Different Aspects Of Retention
- Satisfaction– Entrepreneurs should make sure that their customers are thrilled with the offers.
- Loyalty- They should make their customer feel that they matter and are the priority.
- Advocacy- Ensure them that they a part of the business and that entrepreneur’s existence is essential for their happiness.
Creating A Digital Touchpoint
The entrepreneur can send out updates, behind-the-scenes permit, new offers, or, at the most basic level, discounts to their customers’ email addresses. If they don’t have emails, they can use social media to construct a simple digital bridge for their customers.
After attaining emails, they can use referral technology and codes. This is a smart, affordable way to reach new customers through your existing community. Advertising and bonus, even if it is just on social media, is a great way to build engagement. If entrepreneurs have the infrastructure, they can consider setting up an online shopping store so that people can buy directly online.
Above all, the main focus should be to engage people with stories about the products, staff in your business, and even your customers. This can be done through email, blogs, or social media, written or audio. People and their stories work like heartbeats of every business.
Customers these days want simplicity, convenience, and comfort. Entrepreneurs don’t need to have the most high-tech option. It would help if they had a way to meet their customers or audience where they are. If they do that, their customers will be inclined to stay, support, and help build them back up.
Nobody knows what the future looks like, but whether it exists online or offline, the success will still depend on upholding the customer base. Make that the goal and the rest will work themselves out.