Business is not as usual. We are facing unprecedented events that not even world wars could compare to. Businesses are shutting down for safety reasons, and even those still operational are facing severe downturns in customers and income. It is a hard time for everyone, and difficult decisions will need to be made.
Before you give up all hope, however, there are several PR and business strategies that you can take during this crisis for the betterment of both your community and your company.
1. Secure Future Business Now
Many industries are being hit hard now because people aren’t leaving their homes. Event planning companies, festivals, travel companies, and more are seeing a considerable drop in interest and their profits as they offer refunds to their customers due to forced cancellations.
You do not, however, need to risk bankruptcy. By changing your business model to allow customers to either buy now and cash in later, or by even offering other ways of payment (like installments), you can encourage an income stream.
2. Take Your Business Digital
There are other ways to make money online, even for those who traditionally work out in the field, as it were. Events planners can help organize events and get in touch with their clients through video, Virtual, and augmented reality. Nothing is stopping you from fleshing out plans so that the only thing that is left once the crisis is over is to see items in person and put it all together.
Another option is to offer webinar courses or to host informational videos. Parks, for example, can keep interest going and even make money through advertising by hosting talks and walks through their park online. Studies have shown that even just looking at images of wildlife and the natural world can help improve our mental wellbeing – a crucial component in these trying times.
Find new ways to add a digital component to your business and income streams to connect with customers self-isolating or unable to travel.
3. Work to Improve Your Reputation Now, for Later
When a crisis comes, you want to be remembered for how you responded. That is why now is the perfect time to hire a luxury PR company to tackle your brand image and PR needs in light of this crisis so that you can attract new customers to your digital business model and solidify your reputation as a compassionate, reputable company. We cater to businesses of all kinds, and can even help companies who have been hit the most, like events companies, with our PR events services.
You cannot ignore the current crisis, and chances are it will be weeks if not months before it all dies down. In the meantime, you need to reassess how your business can connect to customers in isolation and how you can use this time to improve your reputation in your community. Goodwill and smart business planning, coupled with great PR, will go a long way.