Wendy O’Donovan Phillips, CEO of marketing agency Big Buzz was recently featured in 7 Ways Businesses Are Pivoting in Response to Coronavirus Shutdown by Seek Capital
Over the last few weeks, life as we know it has fundamentally changed in response to the coronavirus outbreak. Business is no different. All around the world, small business owners are scrambling to find solutions to keep their businesses up and running and their staff employed. With that comes some strategy, flexibility and a whole lot of pivoting.
To help you take similar steps for your own business, Seek Capital spoke with business owners and entrepreneurs about the effective ways they’ve pivoted to make do during this unprecedented time.
1. Reach a Wider Audience
“As a small e-commerce business, we have experienced adverse ramifications due to COVID-19 — including shipment delays due to supply chain disruptions, inventory pileup, and reduced liquidity,” said Bill Joseph, CEO of Frontier Blades. “As a result, to mitigate these effects, we have employed multichannel selling as an effective strategy for maintaining and increasing profits by presenting our business the opportunity to reach a wider audience. Leveraging a personal e-commerce website and marketplace stores enables us to capitalize on both organic search and marketplace traffic for generating revenue. Additionally, selling on multiple online selling platforms is a practical marketing approach for increasing brand awareness, as this method enables us to reach new customers, which we can redirect to our business.”
2. Conduct a SWOT Analysis — Again
“We revisited our SWOT (strengths, weaknesses, opportunities, threats) analysis with a particular focus on opportunities,” said Wendy O’Donovan Phillips, CEO of marketing agency Big Buzz. “Our clients have different needs now than they did even a month ago, and we are fully focused on uncovering those new needs with programmatic surveys then identifying from that data opportunity we have for meeting those needs. This approach will both help us more readily hit our revenue and profit projections and will also help our clients do the same. So far, we have delivered webinars to about 3,000 attendees in our industry nationwide, gained about 1,200 marketing qualified leads and gained about 120 sales qualified leads. More than that, we can sleep at night knowing we were of true service and help to other small businesses that needed support in how to communicate to their team and clients during this crisis.”
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