How to boost your business after lockdown? (1)

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How to boost your business after lockdown?
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The coronavirus pandemic has affected various
businesses not only in India but all over the
world and as a countermeasure, our Prime Minister
has called for a 21 day nationwide lockdown. This
has affected all types of businesses. The
restaurant business, in particular, took a great
hit due to the lockdown. On top of all this, the
IMF(International Monetary Fund) has declared the
start of a recession that will be worse than the
2007 great recession due to the entire world
coming to a standstill.
During this lockdown, it is important to think
ahead of measures to take to replenish your
business and think of strategies to boost your
business post lockdown period. The main idea is
to take proactive steps to keep your business in
a position to sustain the economic crisis. The
Indian government has also declared various
relief packages to help small businesses from
bankruptcy. Additionally, the RBI has also
proposed EMI moratorium for loan borrowers. The
main thing to think about how the coronavirus
affects your business along with your customer
demographic and adapt accordingly.
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All major delivery apps like Zomato and Swiggy
have already introduced contactless delivery
services. People will not be willing to
physically come to a restaurant and would rather
opt for the home delivery option so your business
must adapt to this approach. Registering on a
food delivery service is always a good idea and
will improve your business regardless of the
coronavirus situation. Implementing your own
delivery service for order via call or even
making your own app is a good idea.
Increasing Hygiene
Keeping the restaurant environment clean is
always a good idea but it will be better if you
give more attention to this. Including sanitizers
and hand wash bottles is a very good idea. Due to
the pandemic, people will be more sensitive
regarding sanitation. Serving hygienic food will
improve the overall image of your restaurant and
attract more people. This is also an important
point for bar and club owners.
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Giving special offers
If you need your business to keep running you
will have to make some compromises and cut some
corners in your profit margin. This is especially
important for bars and clubs. Not selling your
beer and other liquor only at MRP price and not
taking extra margin will be helpful. Additionally
including offers like one for one free or
offering discounts for more than one purchase
will encourage customers to spend more.
Focus on where you cut your costs  Boost
Business After Lockdown
During this period of recession, it is obvious
that you will have to cut your cost somewhere to
keep the business running. You should be very
careful when you decide where to cut the costs.
One important thing to understand is that
reducing your spending in some areas of the
pipeline will not always lead to better results.
Rather diverting your resources more
strategically will yield better results. A study
was conducted by Harvard Business Review about
the performance of public companies pre-recession
and post-recession. A total of 4,700 companies
were analyzed out of which 21 per cent of
business opted for aggressive cost-cutting
approach and 37 per cent took a progressive
approach. Tn the study it was found that
businesses with progressive cost-cutting came on
top of rival business after the recession period
was over. So take this into account while
planning your money strategy.
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Digital Marketing  Boost Business After Lockdown
This lockdown period is the best time to get into
digital marketing if you havent already. Digital
marketing along with social media marketing will
increase the discoverability of your business
exponentially. During this lockdown, all people
are at home and most are surfing through the web
or are on some social media platform. This is the
perfect opportunity for you to get your
restaurant business known. Having a website can
help you build trust in customers by giving a
good impression. Interacting with them on social
media also helps you to understand their
requirements and opinion which will be positive
criticism to help improve the quality of your
restaurant.
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Overall what you should focus on is to not panic
yourself and make the right destination on your
own. Keep the business environment dynamic and be
ready to adapt to any unforeseen circumstances.
You should take advantage of the different relief
packages announced by the government and the RBI.
The economy isnt going to stop and neither is a
demand for food and beverages. Public spending is
going to be affected by the recession, but the
Chinese markets are already showing sign of
recovery so this economic crisis will possibly
have a speedy recovery than previously
thought. So, this was all about how to boost
your business after lockdown. Hope you found it
to be informative. You can also check out our
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