From the coronavirus that erupted in China, the entire planet eventually became febrile. As the virus continues to disrupt our day-to-day lives, the global economic situation gets worse. Economists all around the world report significantly increased market fluidity and decreased valuations. However, some businesses manage to seize opportunities during these sensitive times. Ecommerce business is one of a few industries that continues to stay afloat despite the global crisis.
Many businesses invest their efforts into online retail during these difficult times. This happens because many of them believe that eCommerce has the potential to reduce the harmful impact of the coronavirus outbreak.
It is difficult to predict the full impact of coronavirus on overall online sales growth, but the results will not be the same across the board. This will depend on the niche, on changes in customer behavior and on how much longer communities are encouraged to distance themselves – among other things.
Contact your manufacturers
You need to talk with your manufacturers about where they are located at the factory and how they expect coronavirus to affect their business. You cannot plan what you do not know, so try to be as informed as possible about all aspects of your supply chain.
Search for alternative suppliers
When the coronavirus first appeared, it was mainly concentrated in China where many sellers supply their products. This led to a shortage of inventory for some sellers who could not find alternative suppliers.
There is evidence that China is gradually bouncing back to normal business, but other countries are under pressure. Several global development options can help reduce your risks.
Conduct a customer needs assessment
Think about your target or ideal customer groups – what is their current situation? What are their special needs and problems now?
Once you have done your internal analysis, you will be able to assess your willingness to satisfy them. Think about whether you currently have the inventory to meet customer needs, or you should consider turning to better serve them.
Look towards the home audience
One of the most obvious consequences of using coronavirus is to increase the time spent at home much more than usual. Think about how you can change your strategy to better meet their needs, or even please them in these stressful times.
Restaurants are a great example of this. Since they had to close their services for lunch, they increased the volume of car delivery and delivery services around the edges to make ends meet and support customers.
Regarding eCommerce, some stores began to stock new products and / or showcase collections of existing products that are currently more relevant to the daily lives of many people, particularly in order to stay at home. Son of a Sailor, a shop specializing in gifts such as jewelry and other accessories, has posted on its homepage a page describing the “Boredom of Boredom” product.
Try to take new sales channels
One of the consequences of asking people to stay home is, of course, a significant reduction in foot traffic. This is a very cool time for beginners to open an online store, or people who just thought about it.
Refresh product pages
In times of uncertainty, you want to be sure that you will communicate with your customers if any of your services change.
Coronavirus presented a situation that could cause problems in the supply chain, even for individual products – and if this is the case for your business, refresh the product pages so that your customers know what to expect. You may find out that some products will not be available for a while, that it will take longer to deliver the goods to your destination, or that some of your products will sell faster than usual. In this case, update your content with relevant information. If you are going to create it yourself, it is better to check it for the grammar using a professional essay writer help or a Grammarly writing app. This is all important information for your customers. Be transparent and provide as much information as possible.
One of the most important keys to a successful business is the ability to recognize and satisfy the needs of a specific group of customers. The importance of customer satisfaction remains the same, even in the times of a global pandemic.
Modern technologies offer so many opportunities you can utilize to collect data. Employ customer data to your advantage as you learn more about customer behaviors. Data will help you deepen your knowledge of customer needs and expectations. Improved customer satisfaction will help you withstand the global economic crisis. Plus, you’ll get more loyal customers at the end of the day.
Сonsider PPC advertising
You should also understand that the more people stay at home, the more Google searches will be and some are turning to Ecommerce for products that they previously would have bought personally. But on other verticals there is a decrease in traffic.
It makes sense to consider PPC advertising if you are not already doing this, especially if your store has items related to the change in our lives due to coronavirus.
Be sure to carefully monitor your data and, if necessary, adjust your bidding strategy. If you see that at certain times of the day the conversion rate is much lower, reduce your bids for that time to save money.
Provide special offers for your customer
Consider giving a special discount at your store or for certain products that may be in a higher demand. If consumer spending in your store is reduced, discounts can be a good way to get customers back. Since in a period when there is economic uncertainty or job loss – this can be used.
Jump ahead of your competitors
SEO helps your business increase organic traffic to your site and outperform competitors. You want to be on the first page of Google search results – and at the top of the list – so that your customers search for specific keywords and you are the company they are calling. To rise to the top of search results, you need time and strategic optimization strategies. If you do not continue to optimize your website and content daily, you lose valuable position in the search results, and your free fall can cost your business thousands of dollars of lost revenue.
Jump forward with SEO
SEO helps businesses increase organic website traffic and outperform competitors. What would be on the first page of Google search results – and at the top of the list – so that customers are looking for specific keywords and – the company they are contacting? To get to the top of the search results, you just need time and optimization strategies. If you do not continue to optimize your website and content daily, then you are losing valuable positions in the search results.
The magnitude of the impact of coronavirus actually comes down to the fact that, in a word, many people are tired of this, unprecedented. In real-time, you need to respond very quickly to changing information and situations in the world.