There is no doubt that the Covid-19 pandemic has literally torn the world apart. While the impact of the pandemic on the health and general well-being of millions of people in the country and millions across world has been quite traumatic, it also has come with a huge economic cost attached to it. Factories, manufacturing units and other commercial and business activities have come to a grinding halt almost across the world. Thousands of people across the board have lost their jobs and livelihoods and many of them have been pushed into extreme poverty and penury.
However, it also is true that the 1st Phase COVID has more or less come to an end. We are seeing kids getting back to school and Labour Day is being talked about across many parts of the country. We are very much on the way to Phase II post-corona. But it is not without challenges and problems, as we have to keep safeguards in place. This is easier said than done and there is quite a bit of fatigue and stress attached to it.
Things will start moving upwards as we start our efforts to get back to normalcy. But the fear of the disease and infection still persists and therefore it is quite obvious for businesses to try and move online. The main objective is to ensure that the businesses stay afloat and to make this possible moving online is becoming a need rather than a choice. Towards this objective there is no doubt that shifting to a digital mode could help in many ways and may help businesses to dominate their niche.
We Need To Be Aware of the New Reality
Last year, during this period the crowd was there in most of the brick and mortar outlets during the Labour Day and other such special days. Retailers had the required staff for handling walk-ins. However, Corona has forced us to look for some new norms and new ways of lives. The normal working hours are no longer applicable and the hours have to be curtailed. Customers are still afraid of coming out into public spaces. There is no doubt that the economic downturn caused by Covid has led to huge and unprecedented layoffs. The customers need to be aware of the new reality and the need to stay put at home and practice social distancing and other such new norms. Hence there is no alternative for businesses other than moving to a digital platform to survive.
How Can This Happen
While moving digital is no longer a choice but a necessity, making it happen is easier said than done. Most of us come across about the need to shift to a digital world, but in most cases it remains just a talk. Yes moving to a digital platform is a wonderful idea but someone has to bell the cat and things should happen on the ground. Covid-19 has given many business enterprises the right opportunity to move online though they may have been talking about it over the past many years. There are some obvious advantages of moving online and these benefits did not prop up all of a sudden. They were in existence and Covid-19 may have only hastened the process of moving into a digitalized economy. Moving online is perhaps akin to making a phone call or sending a text. While the latter will work only when the receiver is answering the calls, text will work even when the message is scene later. Therefore when you move online as an entrepreneur, you will, as an entrepreneur, be able to cater to the needs of the customers as and when he or she needs it.
Some More Benefits That It Offers
Major changes to your businesses are the need of the hour and this cannot happen unless you find ways to make the customers buy. When you shift digital you will be able to be in touch with them regularly without being physically in touch with them. In other words, you will be following the norms of social distancing and make sure that the customers place their orders online in a secure and safe manner. The articles will be ready and instead of delivering them to the customer, you can inform him or her and they will come and pick it up at their time and convenience. More importantly, when you move digital, you serve the customers based on their schedule and needs rather than you setting the tone and tenor for them as a business entity.
When you have an online presence, you allow your customer to look up products and services sitting in the comfort of their home or workplace and place orders as and when they need it rather waiting for your store to open up and them coming in placing the order. Further, the customers will also be able to get the email records for each transaction and this helps them to be sure that their money is being spent well and it is going to the right products and services.
How Does It Benefit You as an Entrepreneur?
By moving online you also stand to gain a lot. You will be available to the customers when they need you, your products and services the most. You also will be able to manage your inventory better because there could be a reasonable time lag between the placement of orders and execution of orders. Your order fulfillment process will also become quite efficient and will bring down wastage of time and avoid over-stocking and understocking.
You also will be able to follow-up on your customers better and your retention rates will also go up quite significantly. You can make use of their email and other forms of communication and use them whenever you need to contact them. There is no doubt that communication and tracking are much easier in a digital form compared to a brick and mortar environment.
The Final Word
When you move online using the right methods and platforms you may also be able to encourage customers to share their experience on social media such as Facebook, Instagram or Pinterest. When the customers talk about their products and the positive experiences they may have enjoyed, it will work fine as a great publicity at a very low cost.
Hence, at the end of the day, there is no doubt that moving to a digital form of business from a brick and mortar environment because of Covid may be beneficial for all the stakeholders.