How Small Businesses Can Survive the Coronavirus Pandemic

Megan Pritts

·

·

It’s no secret that small businesses are suffering through the coronavirus pandemic. If you’re reading this and you’re an owner or marketer of a small business, know that I’m writing this to help.

This is likely not the first hardship you have endured and it’s not the last. Stay focused on your business and get a strategy ready, because plans and goals are what’s going to get you through this.

As you read, make notes of what might work for you.

Cutting Costs Can Make You Less Profitable

I’m not encouraging you to spend frivolously, and I certainly understand that your instinct is to cut back. According to studies that analyzed recent recessions, businesses that have chosen to refocus spending during a recession have outperformed businesses that made sweeping cuts.

“Firms that cut costs faster and deeper than rivals don’t necessarily flourish. They have the lowest probability—21%—of pulling ahead of the competition when times get better.”

This might be a time to reconsider how you’re spending and where you’re spending. Now you might be wondering how that might work. I’ve outlined some options for how you can focus your marketing efforts below.

SBA Loans

If you haven’t looked into this already, there are many small business loans available for you. Many of these are forgiven if you spend them as promised. Here are two to get you started:

If you get these to spend on payroll, rent, utilities, etc., then you’ll be able to reallocate the revenue you get to remind people that your business is useful. 

Take Advantage of Free Advertising

Advertising platforms are suffering because you’re not advertising. I’m not telling you this so that you feel bad for them. I’m telling you because they are offering free advertising for small businesses.

Facebook advertising credits and grants

Facebook is offering $100M in cash grants and ad credits for up to 30,000 eligible small businesses. This is a new program due to the pandemic so the details haven’t been released yet, but you can sign up to receive updates when they become available.

Google Ads Credits

If you’re a small- or medium-sized business and you’ve advertised with Google since the beginning of 2019, there’s a good chance you’ll be seeing ad credits in your account. Google is giving $340 million in ad credits to SMBs worldwide. Take advantage of this and set up another advertising campaign so you can get more sales.

Go check out the Google Ads Search Campaign Setup Checklist to make sure your next campaign runs smoothly.

It’s also worth noting that many businesses will stop advertising during a recession. Fewer advertisers mean less competition and lower CPCs if you play your cards right.

Get Your Business Online

If you’ve been thinking about setting up a website for your business, now is the time! Platforms like WordPress, SquareSpace, and Shopify make it easy for small businesses to take their business online. I recommend BlueHost or GoDaddy for hosting and WordPress for your Content Management System (CMS). (I’m not affiliated with or sponsored by any of these companies. I just like them.)

These aren’t the only ones! No matter what type of business you have, there’s a WordPress theme for it. They will help you get your business online faster and more affordably.

Beef Up Your Website

Already have a website? Wonderful, let’s go there right now. Look around and read the content. If you were your ideal customer, would you buy from you?

If not, take some time and think about what is important for your business and how easy it is for people to accomplish that. 

Take 15 minutes and review your main pages:

What to look for:

Fix any of the above.

This will get you started, but consider hiring an SEO expert to optimize your website. This is a longer process than advertising, but it could help you outrank your competitors in search results. Believe me, just because people are stuck at home doesn’t mean they aren’t still searching for what they need/want. If you have that, they should be able to find your website quickly. If they can’t, this is a good opportunity.

Tap into Your Email List

If you have an email list, head to your email right now and send your customers a message. These are people who want to hear from you. They’ve given you their personal contact information because they like you.

  1. Tell them how much you miss them and thank them for all of their support.
  2. Let them know you’re making changes and what those changes are.
    1. Are you launching a website, offering delivery, maybe setting up online classes, or changing hours?
  3. Ask for support. They know all SMBs are having a hard time and they like you so they will probably want to help you. 

If you don’t have an email list, now is as good a time as any to get started. Go to MailChimp (my preferred email marketing service) or pick another one you like, and set up an account. Follow the steps to prepare your templates and organize your emails. Then, you can add the signup form to your website and social platforms to encourage people to stay in touch.

Consider Special Offers

People are getting bombarded by businesses right now. Brands are posting on social media, sending emails, and trying to get in front of their customers. 

Try crafting a special offer to stand out. People are looking for ways to save money right now so this is a great option. 

This offer might be as simple as a 10% discount or free delivery. Just something that makes your business more appealing than your competitors.

Get Social

During times like these, people are on social media and this is a great time to connect with them. 

Head over to your social network(s) of choice and start posting, commenting, and sharing! Your fans want to know what’s going on with you. Be real with them. They know life is hard because it’s hard for them too.

But don’t just focus on the negative. Focus on your fans and how you’re all better together.

If you need some inspiration on what to post, try these:

If you need more social media post ideas:

One Story A Day Challenge

Join my One Story A Day Challenge for SMBs. This focuses on connecting with your audience and potentially using a new medium to do it. You can start whenever you want.

A small business owner friend recently told me that this challenge helped her get a few more sign ups for her farm’s CSA. This challenge doesn’t take a lot of effort and it’s free, so it’s hard to say no.

YouTube 

With video streaming skyrocketing, You might be seeing an uptick in your YouTube Analytics. Now might be a good time to jump back into video creation for your channel. 

Here are a few ideas to get you started:

Offer Additional Communication Channels

This is a time when phone lines are busy and there aren’t enough employees available to offer support. If your phone is ringing non-stop and people aren’t able to get an answer quickly, then offer support on other channels, like Twitter for example. 

I’m seeing a ton of comments on social media saying that people have been trying to get a hold of so and so business for a week and haven’t gotten a response. To retain customers, it’s so important that they feel like they’re taken care of. Make sure you’re checking your social media messages, DMs, and email to make sure their questions or concerns are getting attention.

Conclusion

The main point in all of this is to get online. Whether it’s via your website, social media, or advertising, people want to interact with you. Surely, you want to get your business in front of people too. 

I know it can be difficult and scary to navigate uncharted territory. But you did that when you started your business and you can do it again. If you need help with anything I mentioned above, shoot me a message or schedule a meeting. I’d love to walk through your options and help you get started.

Megan Pritts

Megan is a marketing and advertising consultant. She helps growing businesses increase brand awareness, leads and sales through SEO and SEM.