Covid-19 as made it a very interesting moment for business owners. We are slowly making our way out of the forced changes to how we live, and now that it seems that we might go back to some sort of normalcy. We do face the dilemma of what to maintain from the changes that we had to make within our businesses – and which options should go back to the drawer. Our Orange County Marketing company has been developing different plans for different scenarios for many businesses, and at Twelve12 we want to share some of our strategies.
We have noticed that to survive during these covid times, a lot of companies had to absorb many costs related to shipping and delivery services, extra equipment, and supplies to meet a certain level of health protocols, and even had to incur more expenses due to needing to use bigger or more open spaces to maintain their safety measures. In some ways and for some businesses, this has been a key element to keep their business running and, for others, this has been an unprecedented opportunity to grow.
So, many are facing the problem that represents deciding whether to keep the current operation as it is, or whether they should reduce costs as much as possible. Of course, the most obvious reasoning would probably be to go back to the way it was before, but before you take this path, consider the customer…
Go back in time and think about the history of phones; not that many years ago, nobody even imagined a mobile phone, until the first mobile phones appeared and they became a necessity more than just a trend. Then came the mobile phones that allowed one to send text messages and the same thing happened – now we can’t even imagine a world without smartphones loaded with apps and internet access.
Now, imagine that your carrier decided to go back to simpler mobile phones, without the option to send text messages or access the internet. Would you change your smartphone and stay loyal to your current carrier? Or would you transfer your line to a new carrier that offers all the options that you have come to expect right now?
The same thing can happen to your company if you are not aware of the new, changing needs of your customers and consider them before you make any further changes or return to your prior status quo. Perhaps you should maintain the current operation as it is if it is working for you and increase the price gradually, while offering some other types of rewards, adding value at the same time as you achieve a proper profit level on your product. The best way to do this is to conduct proper market research and plan your changes and marketing strategies accordingly.
If you want to know more about how our Orange County marketing agency can help you, give us a call today, at Twelve12, we’ll be happy to answer all your questions.