14 Steps to Fine-tune your Business Strategy to the New Normal in Singapore
By the time this article goes out, it will be less than a week till the Circuit Breaker is over. Which means that you’ll probably be thinking about how your business can adjust to the new normal in Singapore.
But first, what exactly is the new normal in Singapore?
Even though some measures of the Circuit Breaker will be relaxed, some consumer behaviours are encouraged to continue. These include not leaving home unless absolutely necessary (eg. getting essential items), effective social distancing and working from home as much as possible to minimize overcrowding at the workplace.
Essentially, the new normal in Singapore can characterised by:
- Shift of consumer preferences to shopping online
- Work from home business continuity plans
- Social distancing and strict hygiene measures
The digital space, too, has undergone significant changes during this period. So how should you restrategise to comply to official measures and cope with the shift in consumer behaviours?
How to Adjust to the New Normal in Singapore
Sure, it might be a bit daunting to navigate through these uncharted waters, but we have a 14-step crisis recovery guide to help your business adjust to the new world of work.
1. Find Out When You Can Legally Resume Business at Physical Stores
The Circuit Breaker will end officially on 1 June but not all businesses will be able to open with immediate effect. There will be 3 phases.
Before you start preparing your return, do your homework to see when your business is able to resume operations and what measure you would need to implement at the workplace.
2. Reassess Your Business Objectives
All businesses exist to make money but consider where you want your business to be in the next year. Your goals might have changed because of external developments.
Ask yourself how you want your business to be perceived by your customers in the new world of work.
3. Keep Your Customers in the Loop
Surely, your loyal customers will be wondering how things will change once your business. Be proactive and inform them by posting an announcement on your social channels. Outline how your business will be taking the necessary precautions to keep your customers and staff safe.
4. Align Your Strategies with Social-Distancing Trends
It seems like social-distancing trends like working from home and shopping online are probably not going to go away anytime soon.
Even though you might be planning to make a comeback, the world has changed a lot – therefore, your strategies have to align to these changes as well. Focus on being flexible and ready to respond to any huge changes in consumer behaviour.
5. Re-Evaluate Your Business Spending
Have you been spending excessively on ads that are not giving you traffic?
Consumer tastes and preferences have changed significantly, so you might want to relook at where your advertising budget is going.
Think about how your target audience is adapting to the new normal in Singapore. Consider how their spending behaviours have changed in the process and whether it is worthwhile for you to pursue certain objectives.
6. Spruce Up Your Website
7. Show that You Care
To thrive in the new normal in Singapore, there is one key aspect of marketing you must focus on – compassion.
Have strategies that place emphasis on supporting rather than selling. Give your customers some flexibility like allowing them to opt for contactless delivery to minimise contact with external parties.
8. Look for Automated Tools
Automation has made our lives so much easier. Sometimes it is easy to just let a robot to the dirty work for you so that you can save on manual labour.
9. Outsource if You Need To
Outsourcing certain services to other businesses might not be such a bad idea especially if you want to focus more on supporting your customers and upping the quality of your products. Look for B2Bs that provide the solutions you need to speed up the productivity of your operations.
10. Improve Your Google Ranking
Consumers are probably going to be using search engines for information so if you want to make a strong comeback, make sure your website is searchable.
Getting to the first page of Google Search Engine Results Pages (SERPs) is about having a killer website and a solid search engine optimisation strategy.
If you really want to establish a strong presence on the search engine, you might want to also look into setting up a Google My Business listing if you have not done so.
11. Follow a Solid Customer Service Strategy
Sure, your products and marketing strategies might reach the right audience, but what keeps a customer coming back is excellent service.
With more people staying home, you’ll most likely have to manage your customers online. Have a team on standby to answer customer queries punctually.
12. Spread the Love
Throwing a comeback party probably isn’t the best idea right now, but you could consider rewarding loyal customers with a giveaway to celebrate your return.
Giveaways are a great way to build engagement and connect with your target audience. Plus, who doesn’t like receiving gifts?
13. Get Financial Help if You Need It
Adapting to change can be quite a challenge if you lack the material capabilities to do so. Check if your business is eligible to apply for any grants or subsidies before making any big plans.
14. Encourage Your Team
Everyone needs a bit of positive vibes right now. Use your social media channels and telecommunication platforms to connect with your team members. Keep the team spirit alive by encouraging and checking up on them regularly.
Tough Times Don’t Last
Recovering from crises and adjusting to the new normal in Singapore and the rest of the world isn’t as simple as it seems. Navigating through uncharted waters can be pretty tough especially when you don’t know what to expect.
Whether your business is planning to undergo any major changes or not, remember that effective marketing for any business is about being prompt in responding to changes in the market and having the resources to adapt.