Back in February 2020, the largest financial analysts predicted a global economic crisis. During that time, the COVID-19 pandemic was raging in China and did not threaten Europe or the United States. However, in connection with the active spread of this virus to other continents, it became clear that the threat of an economic crisis is more real. In conditions of complete isolation, there is a pressing need for changes in market conditions. The one who is ready for this today will easily survive the crisis and even be able to expand the business.
The Great Depression ended in fierce economic wars, market restructuring, and bankruptcy of many companies. Analysts forecast “depression 2.0”, the consequences of which can be even more severe for the entire world. Yet, digital technology gave the business hope for a way out of the situation. Transferring a business online will help maintain a share of sales and stay afloat until the market recovers.
How do businesses go online?
The first thing you should think about when transferring a business online is creating your own website. Today, it is not necessary to invest thousands of dollars in the development of an online store and hire a team of programmers. You can use one of the convenient tools for creating websites: Squarespace, WooCommerce or Shopify. Even without much knowledge, you can put together your own online store, upload a list of products, and start selling. You should not think about how beautiful and concise everything will look. During a crisis, people need service: delivery, a convenient form of payment, high quality of goods, quick response. Therefore, take care of the basic functions, and you can think about finalizing the website later on.
Next, you should think about working with your community and invest in advertising. However, there are a few nuances that we need to talk about.
According to the results of our marketing research in the eCommerce field, users who were previously on your website make up 83% of the total number of transactions and bring in three times more income than new ones. That is, providing good service, you generate a stream of regular customers who will repeatedly buy something from you. Even if your regular customers can’t buy your goods often, they will still be profitable. They will recommend your website. This is a great way to survive in conditions of extreme savings.
Strengthen brand loyalty and increase sales by reminding your customers about yourself. You can do this with Wiremo. Installing our plugin on Squarespace, WooCommerce or Shopify will take several minutes. Built-in tools can be activated as needed, and you can start a direct interaction with customers.
The most promising feature in retention marketing will be the Wiremo Triggers feature. Just don’t spam, please. Focus on entertaining, informing and taking care of your customers.
Working with reviews and feedback
Large retailers allocate a small portion of the marketing budget to work with reviews. Due to this, you can find many reviews on large websites that go unanswered. During a crisis, your customers will spend more time at home and pay more attention to feedback. They will read reviews more thoughtfully and ask their questions. At this time, it is very important to show your indifference to the needs of customers, show that you care and always keep your hand on the “feedback button”. You can, of course, assign a moderator and pay him a salary for timely answers. However, it’s better to save money and use Wiremo. You will not invest additional funds and will be able to respond to all reviews in a timely manner and show your interest in the consumer.
Transferring business online means cutting back on costs and downsizing a large team. Perhaps you will realize that you do not need all those staff members. For example, in an online store, everything from order confirmation to the organization of its delivery should occur automatically. The manager only prints a form for the logistics service.
In addition, you can get rid of a large team of advertisers. With Wiremo, you get a large set of tools for a passive promotion of an online store. For example, organic reviews from customers on your website are one of the most effective tools for website promotion on Google. In addition, an interaction with customers on the website increases Google’s ranking of the website, which will increase its ranking by keywords.
It’s not even necessary to have a large store with a unique website design or an entire team of programmers and marketers for this. Install a simple and convenient CMS for yourself, connect Wiremo to it, and your business will grow.
Think how to change your approach to business during a crisis today and, in the near future, it will bring you prosperity and a better understanding of the market.