Here in Chicago, we know what it’s like to look out on a dreary, frigid morning and feel like the Sun won’t ever come out again. However, warmer weather is always closer than it feels.
We think that’s an apt analogy for looking at the state of the economy in the midst of the Coronavirus pandemic. Things are tough out there, but an economic recovery may be set to arrive sooner than most of us imagine. In fact, the same economists who recognize that we are in the midst of a steep recession at the moment are advising the world that business might be on the upswing again within the next few months.
Obviously, that’s not the biggest concern at a time when public health emergencies are dominating the headlines. Still, if you have a business to look after – not to mention employees and vendors – you’re probably keeping one eye on the bottom line. You can’t afford not to.
With that in mind, let’s look at four things you can do, starting today, to prepare your business for the inevitable economic upswing that will come when COVID-19 moves on from being a crisis.
#1 Examine Your Current Business
Your business may have changed quite a bit in the past few weeks. You might be relying more heavily on internet sales, online meetings, and remote work arrangements than ever before.
When things turn around, how many of these changes will you want to keep as part of your normal operations? How might you improve upon them to become more efficient or be better prepared for the next unexpected crisis, whatever comes? This is a good time to ask these questions.
#2 Think Ahead of Your Competition
If the economy started moving back towards normal growth tomorrow, what would your best customers or clients want from you? How could you serve them by anticipating the products or services they would require in order to get back on track?
When the economy starts to improve, there are going to be companies caught flat-footed. You don’t want yours to be one of them. Start brainstorming solutions now that will not only provide you with fresh revenue in the weeks and months ahead, but will also bring you closer to the clients who depend on you.
#3 Imagine Future Marketing Campaigns
Drawing on the conclusions you reach from the first two points, think about what your marketing campaigns might look like in the early stages of an economic recovery. What sort of elements – in the form of web pages, emails, printed collateral, etc. – might you need to support them?
While you are thinking about these activities, also ask yourself which processes or ideas you may look to pause or discontinue, at least for a while. Think about where you’ll want your resources being allocated so that you can get back up to normal speed as quickly as possible.
#4 Start Making Preparations Now
Now that you have a good idea of what you want your business and marketing plans to look like when the recovery starts to take shape, turn them into a plan of action. Better yet, get with your creative team to start laying the groundwork for future success.
Because other business owners and executives aren’t taking this step, you can bet design and marketing agencies like ours are going to be swamped when the current crisis recedes. When that happens, we’ll want to have your creative work finished and ready so you won’t have to spend more time and money just to keep pace with the rest of your industry. It’s always better to be ahead of the curve than behind it.
How Can the Weblinx Team Help?
If you’re thinking about ways to put these ideas into action, or just want customized solutions for your business, talk to the website marketing and business growth experts at Weblinx today. We will be happy to schedule a free consultation and help you make sense of the challenges you’re facing.