Online business has become one of the most popular and innovative ways of making money many people have turned their heads to. Be it affiliate marketing or building your blog, online business is a big investment-an exciting opportunity to grow your business at a scale that never experienced before.
We live in an information age, and it is wise to understand what exists today. Many businesses have transitioned to online marketing, and people are driving more online now. Thanks to the internet and computer for significant contribution. You can live anywhere, and still manage your business as much as you want. No business experience is required-online business is simply a season winner.
The legendary journey to becoming your own boss is quite good. There are a lot of people willing to drop their jobs to embark online business.
Coronavirus outbreak: What companies can do during this epidemic period?
Adapting market during coronavirus crisis is a daunting task for many. With many countries on lockdown to coronavirus for the past few months, several countries are taking a backseat to survival. Many businesses are forced to shut down and offline retailing is almost nonexistent. There are so many huge and small companies suffering losses while other business unable to transport products. Major industries such as travel and gaming are suffering and online business is rising.
Coronavirus is substantially huge than Ebola on social media and its spread is worrying the entire globe. However, if you love your business, this is typically a peak season you would like to soak your feet into online business. During this period, with many people globally administered to staying indoors, continue your business without hesitation. Here are what most companies are adopting during coronavirus crisis.
Comprehensive working system
Comprehensive working system allows shift for workers. Workers are assigned for a certain period of time while others another period of time. The stabilization of employment during this period is a better way to prevent and control the spread of coronavirus. Comprehensive working time is effective as long as the average working hours for workers does not exceed one hour per day. It is something that most companies have adopted due to the impact of coronavirus. However, after the period, companies can rearrange its workers to work overtime.
Allowing employers to work from home
No government whatsoever will allow you work from home in the past but now it is a practice that many companies have adopted. Working from home is a better way of curbing the spread of the virus. What companies do is that it arranges employers to work from home through computers, mobile phones and internet. The company is obliged to pay normal salaries.
Allowing employees annual leave
Yes, arranging workers for annual leave will reduce the chances of coronavirus spread. As per the law, an employee is offered statutory annual leave of 5-15 working days. But for developed countries, companies entitle their employers annual leave that is more than statutory leave. Governments across the globe are dedicated to allow companies arrange leaves to duly workers because of the deadly coronavirus. Some countries are allowing companies to offer annual leaves to their employers once they consult them.
Government support
It is every government’s mandate to administer companies during this epidemic period. Most companies are urged to avoid extensive layoffs. Every therefore is obliged to apply for government subsidies in order to stabilize employment rapport.
Also, companies should apply for training subsidies which aims at providing occupational knowledge to its workers. It should also allow social insurance policies to its employers.
During coronavirus crisis, it is the time for companies to remain flexible while managing their workers. Several governments globally have already noticed hard situations that many companies are facing during the prevention and control of Covid-19. However, all companies are expected to pay close attention to new government developments.
So what does online business mean to you as coronavirus continues to spread across the world?
Your business matters-right?
Coronavirus recently has been announced by WHO as a pandemic. With state officials and various governments advising citizens to avoid large gatherings to decrease the spread of the virus, skyrocket of organizations and companies are cancelling multiple events. Major industry countries are in lockdown or forced to cut back on services.
While that can help prevent the spread of the deadly virus, it is terrible for contractors and business dealers losing income because of it. People like drivers, designers, blenders and many more will not love seeing their income suffering. They never want to see their work cancelled.
Coronavirus has halted stock market across the globe. Investors have lost billions of money immediately after china confirmed the presence of the dreaded pandemic. It has discouraged massive business operations.
Why is online business a better deal?
As many markets in the world reel from the dangers of coronavirus, many companies are feeling the impact. The Covid-19 crisis is pushing companies of all sizes to re-evaluate several aspects of their financial strategies for better future-especially to the travel industry. However, if you want to increase your online business during these turbulent times, here is a primer;
Video conferencing technique
Coronavirus has forced many people to work from home. It has put everything on hold, and the most massive quarantine separates several business people in human history. However, if you are selling services, video conferencing can be a better solution.
Video conferencing is a technology that allows you to hold meetings with clients from different places around the world. You are not in collaboration with an outside user.
Video conferencing is simple and seamless than meeting your correspondents in person.
However, it is different from video calling.
Video conferencing has become popular and more accessible to many. You can video conference directly from your website or mobile phones. Here are benefits of video conferencing and how it can help you from the dangerous coronavirus;
· You don't need to travel
Coronavirus has spread nearly to the entire globe, and several states are banning flights from possible hotspots. Video conferencing, therefore, can minimize your travel because you just need to communicate from the comfort of your own. You can do pre-meetings via emails or instant messaging. It is cheap and minimizes time to travel and meet people.
· You can learn and teach online
In online, everything is possible. You can learn or share your knowledge everywhere in this world through video conferencing technology.
· It enhances telecommunication
Video conferencing is an excellent tool for telecommunication. It means you can interact, instruct and guide your co-workers away from the office.
Video broadcasting
As coronavirus continues spreading all over the globe, the world is urging its citizens to stay at their homes. DVB is the success story of modern programming that many companies and organization have opted in-and for a good reason. DVB allows you to stream high definition videos to your correspondent right from the studio environment. No travelling out, no collaboration with outside clients. Video broadcasting offers several advantages over analogue standards in terms of technology. It is faster and can reach out to a good number of customers within wasting time.
To start video broadcasting, you need the following;
· Video cameras
· Tripods
· Microphones
· Computer with video cards
· Monitors
· Streaming software
· Internet connection
· Lighting and other essential equipment
Newsletter
Newsletters are a sure-fire way to bring more customers to your website. A well-structured newsletter should be informative and mindshare and give out information about your expertise. It is useful in building a rapport between business and customers. Some of the benefits of newsletters include;
· Builds the business reputation
A quality yet well-crafted piece of newsletter glorify your business. Your business will come reputable and well known off.
· Showcase your experience
The newsletter contains all the necessary information regarding your industry topics. Through the newsletter, you can show off your business experience and knowledge to your customers.
· Improve web traffics
A well-structured newsletter will increase your web traffics. It will convince readers to visit your website. Make it a perfect template and include sales pitches. Then voila!
Social media
So, how many people are talking about your products online? Social media is an online platform that allows you to market your products and connect with your clients. On these platforms, you will interact with potential customers as you share information about your products. It is crucial to create a great social media campaign about customer' needs.
Social media is a better way to advertise and promote your products and services. Why? For one, you can engage with your customers. And for the second, you can find out what people are talking about your products or services. Below are some of the benefits of social media;
· increases your market
· builds customer loyalty
· attract customers and get their feedback
· exchange ideas and promote your products
E-commerce
Electronic commerce is a modern technology of buying and selling of goods and services online. It is a business model that has gained popularity over some time because of its convenience. Want to run your business globally? Built an e-commerce today and expand your market online. Structure your data decently and ensure an appropriate position on Google. E-commerce offers the following benefits;
· Available all around the clock
It doesn't matter whether it is during night weekends; e-commerce is a great tool and convenient option for many. It serves clients all around the clock, 24/7 in 365 days.
· Global market
A physical retail shop can be located only by residents. Alternatively, an online store has the whole world as its market. It improves your sales.
Create a video channel or podcasts
Video podcasting is a technology that allows you to combines audio components of podcasting together with visual media. It is helpful if you want to increase sales in your business. Through video podcasting, you can advertise your products and services in a modern way. Create a high professional media that every man, woman or even a couple can accomplish.
Recommendations
Coronavirus is quite contagious. It spreads faster than you may believe. So, it is crucial to stay indoors to avoid the spread of the virus. While that in consideration, below are some of the recommendations for those in the service industry;
Go virtual
There is no better way to avoid collaboration with outside customers than offering virtual courses and consultations online. It can be done either through video or live streaming. Use tools such as skype and hangouts to move classes and meetings online.
Payment modification
It is vital as a business person to modify your payment plans. It is time you need to update your pricing plans as you provide discounts to your potential clients. Payment modification is essential because it enhances online interaction with your employees.
Adopt online orders
Create an easy to order online option for your customers. To make it appealing, allow for special offers and advanced pickups and deliveries. To attract more customers, make sure you offer decent delivery rates for returning customers.
Shop online
Online shopping allows customers to buy goods from your online store. Unlike brick and mortar business, online shopping is nothing like human interaction. You get online, add your products to cart and make an order. Provide discounts and coupons to your customers always.
Move events to online
Online meetings matters here. No interaction or consultation in person and this reduces the risks of you exposed to the already infected crowd. Check ways to ensure your events take place online. Provide virtual links to your website. To move your event online, here are the options you are likely to consider;
You can build a live stream through Wix video
Use webinar
Final thought
Online business is best of all. Unlike brick and mortar businesses, you don't need to travel out to meet with customers. The internet has done it all. There are plenty of tools available out there to improve your online business. Avoid risks of selling your products out of your comfort zone. Avoid delays of products with no indication of when they will arrive.
Wix Lab | March 2020