Boosting Business with Creative Business Strategies During the COVID-19
A Creative Boost Might Be What Your Business Needs in a Time Like This
COVID-19 has hit many businesses in Singapore hard and in these uncertain times, businesses are turning to creativity to give their sales a boost.
Uncertain times call for more creative measures. A major concern among the “non-essential” retailers to how to compensate for the revenue that was lost when the virus hit.
Creative Business Strategies to Boost Sales
In these uncertain times, consider pressing the pause button on some standing orders with your suppliers. This way, you don’t get stuck having to pay for inventory you might not sell.
Many Singapore businesses have applied for government relief, but that’s not the only option to consider. Here are a few creatives business strategies to give your sales a boost during the COVID-19 period:
- Capitalise on “Social Experiences” – We’re all in this together. Since you can’t meet with customers in-person, connect with them online. Remind them that it’s business as usual and you’re here to make it as easy as possible to get what they need.
- Gift Cards – It’s an affordable option for your customers while you get instant cash. Discount cards and special vouchers will give your customers an incentive to keep coming back for more.
- Pre-Order Options – Get immediate cash when your customers pre-order popular products. There will be no pressure to fulfil orders immediately either since customers understands pre-orders mean longer wait times.
- Offer Discounts – Unload your underperforming products by slashing prices as a way to encourage buyers to grab them quick. You free up your inventory and you make a sale at the end of the day.
- Save On Shipping – If you’re manually able to fulfil orders, now is the time to do it. Consider skipping your usual fancy packaging in favour of more economical options for the time being. Consider free shipping where possible and even offer local deliveries if you can do it on your own.
- Offer Loyalty Programs – If you don’t already have a loyalty program, this is one way to encourage customers to shop with you. Collecting points with every purchase that they can redeem later gives them an incentive to shop with you and not your competitor.
- Shop on Social Media – Now more than ever, social media marketing is the one thing your business needs. It is the most affordable marketing option and the one that reaches the widest audience base. Sell on Instagram and Facebook to keep the sales coming without spending too much on marketing.