Even as the biggest companies in the world continue to turn in profits during the pandemic, many small businesses have struggled to stay afloat. Many have remained closed for over a year after the health crisis started. And with the current surge in the number of cases, it may take more time for these businesses to resume their operations.
Despite this, other businesses reopened to recover the revenue they lost when they closed their doors at the height of the pandemic. While the task at hand is challenging, it is not impossible. Here are some things that businesses can do to increase their revenue in the middle of a pandemic.
Prioritize Sales in Business Strategy
Businesses should prioritize sales in their business strategy. When the pandemic started, many businesses focused on increasing revenue even as they laid off some employees. These businesses had prioritized sales and let go of employees who may not have contributed directly to this new focal point of the business. The situation improved after around 50 percent of the total population got vaccinated. But the current surge in cases may force companies to prioritize sales in their business strategies until everything goes back to normal. With a tight economy, businesses should focus on the things that allow them to stay afloat.
With this in mind, businesses should provide their employees the tools they need to sell. These tools should give them the chance to identify the business clients and insight into their buying habits. It should also identify potential competitors and the unique selling point of the products or services of the business. These factors can help the employees sell the products or services and increase the business’s revenue. It also allows them to identify potential customers through the leads that the business generates.
Enhance Sales Skills
Prioritizing sales also requires the business to enhance the sales skills of its employees. When the pandemic started, businesses started adapting the e-commerce sales model. While a part of the model did not require interaction between the employee and customer, some businesses required their employees to interact with customers over the phone or via video conferencing software.
While using a phone to sell products is not a novelty, selling through video conferencing software is new. With this, it is necessary to enhance the sales experience for clients to increase the chances of selling the products and services of the business.
One way for the business to do this is by letting the employees go through marketing coaching sessions. These sessions can help improve their marketing and selling skills. It also helps them grow and achieve better returns in their selling activities for the business.
In addition to these sessions, businesses can also develop a sales strategy that incorporates technology in the selling process. While many businesses reopened already, the situation remains uncertain with the current surge in the number of cases due to the Delta variant of the virus.
Leverage Sales in Knowing Customer Needs
After over a year into the pandemic, businesses may have an idea about the needs of their customers. With this, they can leverage this knowledge and focus on meeting them. For instance, RV sales increased during the pandemic. Even if the business does not sell RVs, it can focus on other items that RV owners may need if they go on a road trip. Businesses can sell freshwater hoses, surge protectors, power cords, an RV leveling kit, a folding table with chairs, and even a portable gazebo.
Similarly, home sales also went up, and businesses can look into offering kitchen essentials, including utensils, drawer organizers, and food trays. Businesses can also offer bedroom essentials, including mattresses, full-length mirrors, and pillows. They can also offer storage bins and bedroom closets in the market. With many companies allowing their employees to continue working from home, businesses can also offer laptop stands, ergonomic chairs, and monitors.
Use Effective Digital Marketing Strategies
With people spending more time online during the pandemic, businesses should use this situation to their advantage. They should use effective digital marketing strategies to connect with their customers. Being digital-savvy has become necessary as more people search for the things they need online rather than visiting a physical store.
Therefore, businesses should employ different digital marketing tactics to increase their online presence and reach their market. And once they reach their markets, businesses should also focus on convincing customers to buy their products or services. Additionally, they should ensure the satisfaction of their customers so that they can help spread the word about their products and services through word-of-mouth marketing.
The pandemic has made it necessary for businesses to find ways to increase revenue by connecting with their markets online.
