Many small businesses are facing difficulties due to COVID-19. However, one way to ensure your company will pull through is to expand your market. Finding new clients may not be easy in these tough economic times, but it’s definitely doable with these tips.
Think Outside the Box
Getting creative with attracting clients can help you wait out the coronavirus demic. That said, it could take some innovation on your part.
- Head online and start growing an audience via social media.
- Use free advertising methods to get more eyes on your business.
- Get creative with marketing tools and resources you’ve never tried before.
Know Your Target Market
Defining your target market has never been as important as it is today. Coronavirus has changed how people shop — and how much they spend.
- Define (or re-define) your target market.
- Understand changing consumer behaviors and what shoppers want from your business.
- Concentrate your effort on retention — make existing (or new) customers feel special so they keep coming back.
Have a Backup Plan
While searching for new clients is a smart game plan, it might not be enough. Have a backup plan in place in case your efforts aren’t enough.
- Find ways to scale down, renegotiate debt, and explore alternative methods for aid.
- Apply for small business grants if your company needs help staying afloat.
- Think about asking for an emergency loan under the CARES Act.
Although the economic shutdown will have severe consequences for companies of all sizes, there are ways small businesses can fight back. Expanding your clientele is an excellent way to promote business survival during COVID-19. And with these tips in your arsenal, you’re well on your way toward an upward swing.
Derek Goodman is an entrepreneur. He’d always wanted to make his own future, and he knew growing his own business was the only way to do that. He created his site Inbizability, to offer you tips, tricks, and resources so that you realize your business ability and potential now, not later.
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