Change In Business Approaches Post COVID
- As this global nightmare does not seem likely to stop anytime soon, businesses are being forced to take a long and hard look at their models. Many players have used this opportunity to take their businesses online and diversify. This situation has significantly impacted customer sensibilities, demands, and interaction. A top to bottom change in existing communication and sales model is necessary.
- It is no longer just a question of sales and profit. Businesses need to seem genuinely helpful and not opportunistic. Many brands are playing up this angle by sharing useful information about the virus, taking initiatives to help employees and the community at large, and building goodwill.
- Brands are stepping up their social media game, engaging existing customers, and attracting prospective ones through targeted communication about useful offers, online marketing, and delivery options.
- All brand communication is currently centered on the pandemic but focusing on the bright side and giving people hope.
- Many brands have successfully located business opportunities while also being sympathetic and humane. Vodafone makes a case for this by encouraging users to recharge for others on their website.
Retail or online – what should be the best option for the business?
Companies always start their businesses through retail stores which is the priority for every businessman/woman, whether it is service or products from initial days to a big start physical stores are always a convenient option for brands. That does not mean, however, that there is no longer a need for online stores or that all business ideas work well offline, mostly it depends on every business goal, product type, and budget.
The aspects and requirement fulfilment of retail store and online presence are almost the same but the unique experience of both makes them stand out the best, especially retail stores it’s the ambience and customer experience, and on online platforms is more of engagement and convenience with a few clicks sitting at home on screens.
The distinguish between retail and online-
When the customer is the king for the companies, they need to consider every type of audience and build a strong presence, perhaps when the customer is shopaholics and very particular about purchasing having a physical store is the option, and when it comes to busy customers and easy-going with the purchase, optimized online store and presence is the better option.
Challenges faced by the retail and online store are considered by the same means, but when it comes to quality assurance physical stores are the option to build.
Retail is limited
Physical stores help in only attracting the local residents and nearby towns which will only deal with limited sales despite being better in terms of quality, and also the owner will have fewer opportunities than the online store regarding consistency and value addition.
Online is always open
It’s a clock service where 24/7 service is open for the customer, whenever there is a problem they can take immediate help from the customer care centre and when the company with the big brands having online presence creates a huge difference and impact towards the audience it builds trust among them.
Business operation online through CRM;
CRM helps to build a strong team at the company which immerses in and increases productivity. If you have the right CRM system in place, studies find that labour costs for customer service decrease by as much as 40%, and in some cases it can also be more than that. It also helps in gaining customer retention with proper practice.
Online sales and payment system
Online sales help to reach more audience and have a presence in the global market with huge sales opportunities and at the same time, it also helps in tracking down customer data and improve offerings to the buyers it also helps in to display an abundance of products with standard norms which don’t show a need to have high street stores with a huge cost.
The online payment system is a necessary feature where every business should have to make the transaction easy for the customers and ensures safety to help in efficient tracking which includes gateway payments like net banking, UPI and mobile wallets. It also helps customers to keep them updated with the regular notification of their transactions.
Extended customer support and care
Whether it is an issue with the product of returning, damage, or understanding how to use the purchased product, customer care is always to rescue and support you to get the right directions without any problems. Every business needs active customer service to reach the customers whenever in need to help.
Digital is the new way
With the present rising situation, everyone is willing to build an online presence to fulfil the needs of their customers which makes it convenient and efficient for their growth despite having physical stores, however optimization and consistency is the key factor to develop an online presence for any business.Digital media helps business to boast and keep their customers updated with the any changes and additions of the products and services
