2. Under no circumstances allow someone to make you feel guilty or like you're insensitive for continuing to market and sell your product or service during this time.
You have the responsibility and duty to your family, employees and customers to do everything in your power to ethically provide and lead. Having said that, we can't ignore the economic climate currently affecting us a Small Business Owners. Specifically:
1. Mandated Quarantines and Non-Essential Business Shutdowns
Silver Lining: Most transactions that will take place will be delivered or virtual.
2. Polarized Marketplace
Silver Lining: You must make a decision to either provide low ticket items under $100 or premium high-end items. Contrary to what the media may have you believe, there are still people who are financially strong during this time.
Silver Lining: Almost all sporting events, schools and extracurricular activities have been cancelled or rescheduled. This means more time at home for consumers than almost any other time in history.
COVID 19 will create challenges for some, and opportunities for others. It's not the strong that survive, it's those that can best manage change. Read this next line twice:
"The market can not put you out of business, only a lack of creativity and unwillingness to learn can do that."
So for the open-minded people who are reading this, are you ready to try something new? Navigating COVID19 to make money is simple: Go Online.
If you're a restaurant - start delivering. Speaker? Host an online summit. Credit Repair? DIY downloads. Whatever it may be, find a way to deliver your product or expertise online. You don't have to leave your house. It requires almost no overhead. And you can scale like crazy.
The Market Base is the world's #1 flat rate marketing service. Our purpose: To level the playing field for entrepreneurs and small businesses by providing marketing the way it should be. Affordable and Accessible for All.
If you set it right, the sales and profit will flow. Get it wrong and, well, you know, you’re doomed, to put it mildly. Your pricing affects everything, from profit margins and sales to brand positioning and market share. So, what’s the trick? How do you implement a pricing strategy that conveys everything you want to stand for as a company while bringing in profit in the process?