The price of oil is way down, plus the panic of the coronavirus forces us to change the game in the business market. And …
This is the right time when you must DO BUSINESS!
The D*Butler team aims to help, especially in the critical situations that have now arisen in the international market. Here are some recommendations on the situation that are actually a real opportunity.
What should a business do in a crisis? Recommendations.
- Hire new and highly qualified staff. While the short-sighted managers in some companies will reduce staff and minimize production. You can rebuilt your team and make it more competent with new faces at this crucial moment.
- Renew and Expand Public Relations. Observe your target audience. Find out what people need and satisfy their demand. Let your customers know that you have begun to increase your promotion, production capacities and that you are not going to reduce operations. Basically, show your customers that you are stable and committed to growth. People will follow you. In a crisis, people follow those who are calm, stable and rational.
- Increase advertising. That is right! While many people will step back, and will not advertise or stop their campaigns, it’s time for you to introduce yourself to the entire world and new markets. And the best part is, most likely the number of advertisers will decrease and the cost of advertising is going to go down. So, you will be able to double or even triple your advertising efforts.
- Export.Be ready for new markets and prepare for them. Remember that the crisis will end, and you will be ready for it.
- You can buy goods, services and merchandise at low prices from companies whose markets are closing or going down in price.
- Find new partners.If you have difficulties with your current partners that are affected by the crisis, then you can find new ones in your country or from other countries that can replace your old partners.
- Buy shares and not just those of competitors. There is a panic all around us. Business owners are ready to get rid of different assets at ridiculously low prices due to fear of deterioration.
- Expand. Hit the crisis with expansion, not reduction. Increase on all directions that you are able to increase. This will be the best anti-crisis solution.
- Increase speed of service.At such a moment, not big ones beat small ones, but fast ones beat slow ones. This will be a powerful tool for growth if you do this.
For which products demand is growing now?
- medical masks, antiseptics,
- vitamins and foods that increase immunity
- sports goods, as people will think about health even more
- in the services sector, domestic tourism will increase and there will be a flow to new countries that were not previously popular among tourists and which were not affected by the coronavirus panic.
- the demand for online shopping and IT resources will increase, because physical movement is reduced due to quarantines, so people will look more and buy goods / services online.
- The reduction of mass events, conferences, exhibitions increases the flow of B2B clients on the Internet. Now people will choose the way of searching suppliers online instead of going to the exhibitions because of quarantine, panic epidemic. It’s the right time to think about promoting on D*Butler!
- and other niches and opportunities are emerging right now. Take a moment.