It has become challenging movement for all businesses to keep their financial wheels turning during lockdown period due to less revenue. Unfortunately the impact on start-up and small businesses can be way more brutal as they have scares cash reserves and a smaller margin for managing sudden slumps. These effects create ripple effects in Indian economy and the expected growth rate is going down to 2%.
So during such testing time start up entrepreneur will have to adopt new set of strategy for a business. It is depends on your industry type how to increase sales and revenue, According to that most of the people are spend more time in home. As per that you need to apply marketing strategy on that basis.
1.Don’t back down to your business:
One of the major step towards crises that to never back down in any situation. Be ready for the entire situation because this is the important step for the business to laid down the situation. As an entrepreneur you are the risk taker and ready for the solution.
2.Continuous connection with your customers on social media:
At the situation of lock down all the customers are at his home so it is not easy to increase sales and also customers are easily go for the market to buy a product. With the help of social media you can easily connect and contact your customer. For example, Television, face book, application etc…
3.Take any opportunity that arise to help in the crisis:
In the crises it is the step that initially entrepreneur helps out to society at the critical situation. CSR is one the important part of it but apart from that also help out other field also.
4.Improve your online presence
Nowadays online business is going to spread widely, so it is very important that you need to display your branding of the product in to online. Targeted audience like youngsters are going to buy online products as per the taste.
5.Improve your site SEOs:
SEO (Search engine optimization) is one of the static methods to improve site visitors by implementing to change website so that they optimize search engine. This means maximizing the traffic to a site by improving page rank within search engines.
6.Use PPC advertising;
In PPC (pay per click) advertising you need to pay certain amount on per click, each time a user clicks on one of their ads to visit their website. It is one of the important factors that to improve online trending for users and it is needful to current trend.
7.Build digital ordering infrastructure:
Digital infrastructure at the core of developmental efforts will help trigger a whole range of actions that have the potential to energise the economic activity and welfare of people at multiple levels.
8.Create new revenue channel:
It is not only a single step for the business to expand in a globally but you need to create new revenue channel for your existing and new customer.
So this are the steps would be helpful for the business during the lock down.