Businesses have been managing the coronavirus pandemic for more than two months now.
While the information below is geared towards this specific challenge, the advice below can be helpful anytime a company experiences an unforeseen downturn in business.
Help others selflessly. Whether it is your clients, customers, colleagues, employees, friends, neighbors, or strangers... it is a not only a good personal decision to be a helper, but it is a wise business decision as well. While revenue may suffer by "paying it forward", the strongest relationships are those that are built by weathering storms together. Your clientele will remember who cared and your business will be better for it.
Offer solutions to problems. We all suffer from the same problem, but we are each affected differently. Take the time to understand what your customer's challenge is, then offer to do what you can to alleviate it. For existing clients, possibly it's a payment plan that will help, or a pause, or just a visit and some one-on-one conversation. For new prospects, let them know all the ways they can safely interact with your business.
Review and Revise. During a downturn, there will be time available for reviewing and improving processes, getting more organized, updating websites, configuring new business plans, and etc. The goal is to have your company re-emerge as a better version of itself. Regarding marketing campaigns, a temporarily revised plan should be launched that best coincides with the needs of our target audience.
Remember, this too shall pass. It's the companies that act instead of react that will strengthen their current customer base, continue attracting new prospects, and become more efficient for the future.