We have made it through a couple of months in quarantine. As a result, many companies have expanded to an online platform to follow social distancing practices and to safely conduct their business. You might be wondering, “How can I successfully expand my business online?”
Well, you’re in luck!
In this article we will be giving you a few tips to expand your business online. We will also give you ways to diversify your business with the current pandemic. Let’s jump in!
Tip #1: Reevaluate Your Business Approach
This could be the perfect time to enter a new market or brainstorm new ideas. Regardless of what you choose, it is important to reevaluate your consumers’ changing wants and needs with the ongoing health concern.
There are numerous ways to cater your business to your consumers’ desires. Here are a couple tips when reevaluating your current business approach:
Take a Creative Route
Maintaining a positive mindset and getting creative is a great way to attract more customers.
For example, Jean Cintrón, a Puerto Rican fashion designer, created fashion face masks that have completely sold out online. He transformed consumers’ needs for masks into a new opportunity to grow his business.
As a result, he reinvented the current Puerto Rican fashion industry as a whole.
Reassess Your Market
You will want to reassess your market and adjust your product and service offerings accordingly to fulfill their wants and needs!
For instance, consumers are concerned about their health and safety now more than ever. You should communicate your priorities to your customers and let them know the changes you will be making to your business.
In addition, you could also provide an online platform where consumers can browse your products and services in the comfort of their home.
Now that you’ve reevaluated your business approach, you’ll want to get keep an open mind for this next step.
Tip #2: Consider New Opportunities Online
Reinventing a product is not the only way to open your business up to new opportunities.
You can open your business’ products and services to consumers by providing safe ways to access them.
For instance, restaurants have provided curb-side delivery through online ordering, fitness instructors offer subscriptions to their series of workout videos, and artists sell their paintings through online shops.
Seeing a pattern? All of these changes were made by switching to an online platform.
“In Europe, 13% of consumers said that they were considering online retailers for the first time in April, and in just Italy, e-commerce transactions rose 81% in March.” This shows how consumers have shifted their consumer behavior in accordance to COVID-19.
Therefore, the key takeaway is that consumers want to safely access their favorite products and services during this pandemic. You can get creative! Start brainstorming ways that your business can be transformed online.
Tip #3: Help Others by Offering Free Products and Services
Everyone could use a little extra help. Many companies have started offering free academic subscriptions, meals to frontline workers, business consultation, and virtual classes.
Ways You Can Help Others During COVID-19
- Virtual “how to” workshops
- Free-trials on subscriptions
- Business advice Q&A’s
You may be wondering, “How could giving out free stuff help my business grow?”
Giving back to your community can support the economy and gain potential customers. The more active you are now, the more likely people will know your business.
Moreover, you can establish strong relationships with your customers by helping them out.
Who knows? Maybe they will return the favor by helping you too! The point is that you help others without expecting anything in return and stay active during the pandemic.
Next, you’ll want to consider seeking new customer relationships outside of your comfort zone.
Tip #4: Grow a Wider Audience In New Markets
People are experiencing COVID-19 impacts differently, especially depending on which part of the world they live in.
Well, this means that various countries will have different wants and needs as their situations change with COVID-19. You could use this time to enter new markets and target countries with a growing desire for your products or services!
Did I mention? There are multiple advantages to doing business internationally.
With the pandemic, the market for online entertainment has spiked within this year. But what does that have to do with doing business in new markets?
To give you more background information, Netflix has services available to 190 countries and has seen a lot of success during the current pandemic.
On the other hand, AMC Entertainment offers its services to 15 countries and has received less demand for its services as consumers are staying home and enjoying online entertainment.
Given this example, companies could think about modifying their approach by offering their services online to people all over the world.
The future of international business needs to consider how consumer demand will shift to products and services that are accessible online.
The goods news is that this makes it easier for businesses to enter new markets across the globe!
You might even find a growing need for your product or service in a different area of the world. Ask us if your business would have success in a foreign market!
Tip #5: Use Digital Marketing to Attract More Valuable Customers
Now that you have learned some tips to shifting your business online with the ongoing health concern, it’s time to spread the word! Digital marketing is a perfect way to bring attention to your business, and can give you the leg up in your efforts.
Target your Most Valuable Customers
Identify who your target consumers are to optimize your returns and to maintain loyal customers.
Initially, it may be difficult to narrow down your customers, but you can start by analyzing your customers’ demographics and connecting that data to who your ideal consumers are.
Hire an Expert
Gain professional insight on how to diversify your audience and to attract more valuable customers. Additionally, An expert can easily implement a marketing plan for your business and put it in action.
Ready to Expand Your Business?
Want to gain a wider audience?
Talk to an expert at firstname.lastname@example.org about growing your business online to reach valuable customers!