How to evolve your business model as times change

Website design By BotEap.comAre you prepared to meet the needs of new customers?

Website design By BotEap.comWe’ve been navigating our way through uncertainty for a few months now, and I have to say: small business owners are resilient.

Website design By BotEap.comIn a time of stress and sadness, we pivot, we adapt, and I hope everyone, their families, and their small businesses are doing well.

Website design By BotEap.comI’ve written a lot about managing your small business during the pandemic, from “How to Boost Your Small Business Strategy During the COVID-19 Crisis” to “How to Create a Crisis Response Landing Page,” on our site. Web.

Website design By BotEap.comNow, we turn to the next step: emerging from the coronavirus pandemic not just in one piece, but as successful entrepreneurs who have learned some valuable lessons.

Website design By BotEap.comAs we move forward, it’s obvious that some things change forever. In a recent survey, 81% of Canadians agreed that the crisis will create a new normal and have a lasting impact on society.

Website design By BotEap.comSo as my province of BC, Canada begins to reopen for business, it’s time to take a look at your marketing and assess whether it still makes sense for your target audience.

Website design By BotEap.comHow to define the needs of your customers

Website design By BotEap.comLet’s go back… all the way back to 1943, when Abraham Maslow proposed his hierarchy of needs. According to his theory, people are motivated to meet basic requirements (food, shelter) before moving on to more advanced ones (intimate relationships, sense of accomplishment).

Website design By BotEap.comDuring the coronavirus crisis, people have become more focused on basic needs, like staying safe from COVID-19 and buying food. These different needs may also have led them to buy things they wouldn’t normally buy, like lots of hand sanitizer or take-out food several times a week.

Website design By BotEap.comSome of the customer behaviors we’ve seen during the pandemic may be here to stay, including:

  • Continue to wear masks in crowded areas and wash hands more frequently
  • Think more carefully before buying “wants”
  • Work/study from home most of the time
  • Choose brands that are the most empathetic and aware
Website design By BotEap.comSo ask yourself: how have your customers’ needs changed during this time? What do they expect of you?

Website design By BotEap.comHow to evolve your business model to meet new customer needs

Website design By BotEap.comJust because we’re slowly returning to a “new normal” doesn’t mean everyone is going to be hopping on planes and going to big parties. Especially for those who have been personally affected by COVID-19, it will be difficult to reintegrate into society, so to speak.

Website design By BotEap.comHere are some ways you might need to pivot to meet new customer needs:

Website design By BotEap.com1. Maintain/increase communication about health and safety measures.

Website design By BotEap.comA large part of your business model transformation will include how you communicate with your customers.

Website design By BotEap.comFor example, salons and spas have been closed for months, and even once they reopen, consumers want to know what steps they are taking to protect their health.

Website design By BotEap.comSome clients will not feel comfortable walking into a salon unless they are aware that certain health measures are in place.

Website design By BotEap.comDon’t be quick to remove your COVID-19 home page or health and safety messages from your website or Google My Business listing; rather seek to update the copy with new information to reassure your customers.

Website design By BotEap.com2. Address new patterns.

Website design By BotEap.comIf you’ve started offering heat-and-serve meals, curbside pickup, or telemedicine sessions to customers, they may expect that in the future.

Website design By BotEap.comThis may be a good opportunity to take a closer look at what worked and evolve your business model accordingly.

Website design By BotEap.comIf you don’t sell essential services, you may need to change your marketing strategy to address different spending behaviors. Many people have been hit hard financially and won’t have as much disposable income.

Website design By BotEap.comOthers will have gotten used to a new way of doing things. Similarly, to what I mentioned in no. In #1, COVID-19 has changed the way people consume certain services.

Website design By BotEap.comFor example, a school may need to integrate more online learning into its model to attract students who are now used to and more comfortable with fully remote classes.

Website design By BotEap.comMany organizations are rethinking face-to-face conferences and other events. Will employees want to travel to large convention centers to network with other attendees? Or will they also be happy with a virtual conference next year?

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Website design By BotEap.comREAD: “3 Ecommerce Challenges and Solutions for Tough Times” on our website:

Website design By BotEap.comThere is no arguing that this pandemic has led to an increase in internet traffic as people work, socialize and entertain themselves online. But an increase in Internet usage doesn’t necessarily translate into increased sales for your small business.

Website design By BotEap.comMany consumers are hesitant to buy, either because they are not sure when they will be able to use the service you sell, or because they have been laid off or have had their hours reduced.

Website design By BotEap.comThat’s why I’m sharing 3 ecommerce challenges and solutions to help you sustain and even grow as an entrepreneur during this crisis.

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Website design By BotEap.comHow can you best meet the needs of new customers?

Website design By BotEap.comNo matter how your business model evolves, it’s important to remember that meeting your customers’ needs is an ongoing process. Whether it’s two weeks after the pandemic or two years, always:

Website design By BotEap.comListen, listen, listen. From tracking your customer reviews to sending out a questionnaire, it’s never been more important to take your customers’ sentiments into account.

Website design By BotEap.comListening on social media can also be a great way to “check the pulse” of how your customers are engaging with your brand and content. Then use what you’ve learned to modify your marketing strategy for the future.

Website design By BotEap.comAlways be attractive. I hope you’ve been doing this during the pandemic, but it’s critical post-COVID-19 as well. People will still be spending a lot of time at home for the foreseeable future, so create uplifting, inspirational, and/or informative content for your website, social media accounts, paid ads, and newsletters.

Website design By BotEap.comPay attention to changing trends in your industry and customer behavior to guide your content strategy.

Website design By BotEap.comHere’s an example: During the pandemic, DIY was big, from home renovations to crafts. Nielsen reported that yeast sales were up nearly 650% over the previous year as homebound people cooked up a storm.

Website design By BotEap.comSo think about how your customers might be using your products or services and offer them good content, whether it’s bread baking tips or how to get out of debt.

Website design By BotEap.comRegardless of what your business sells, communicating with and reassuring your customers remains paramount. And remember: your customers can tell the difference between a sales gimmick and authenticity, so be sure to communicate value at all times.

Website design By BotEap.comSo what comes after the crisis? Nobody knows it for sure. But by modifying your business model as needed now, you’ll be ready for whatever the future holds!

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