Does Your Business Strategy Include Any Of These?

Posted by Marcel Donnelly on Mar 23, 2020 7:05:56 PM

 

As COVID-19 restrictions take hold of Australia, it is important to look for the opportunities that will keep your business alive.

business strategy

With the constant virus chatter, it is important to take a step back and give yourself a moment. You must think to yourself - "what can I change in my business strategy that will increase my chances of surviving until the official word is 'we have the virus under control' and normality begins to return to Australia?"

Many businesses are quickly cutting costs across their business in operations, technology, employees and marketing however the Australian Government’s 1st and 2nd stimulus package is aimed at ensuring you can keep your staff employed and that you can continue to invest in your business.

At this time, you should consider the following to include in your updated business strategy:

  • Invest in software
    • Software is an integral part of business and it is more important than ever. Software is currently keeping thousands of businesses, employing millions of Australians open by allowing their workers to work from home. As a trade business, you must be investing in software that will improve your business. Creating quotations manually can required up to 30 minutes however with software you can build the quotation in less than 5 minutes. The additional 25 minutes you now have should be used to focus on your customers and improving your chance of winning the job.
  • Your Previous Customers
    • With every job you quote, win or lose, you receive customer details. These details are gold and they should be used as soon as possible. By simply contacting your customers via email and through your social media, you can remind them you are available and you are ready to service them! Remember, more people at home means more toilets flushing and lights being used.

 

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  • Focus on Customer Service
    • This should already be at the core of your business strategy however it is more important than ever. Focus on offering exceptional customer service by going above and beyond. This includes:
      • Ask each customer the questions relating to COVID-19
        • Have you been in contact with any friends, family or work colleagues that have tested positive to COVID-19?
        • Have you been experiencing any respiratory issues or flu-like symptoms over the last 21 days?
        • Have you recently been in self-isolation?
        • If safe to do so, can you ensure that the area our tradesmen will be working is clear and recently cleaned with anti-bacterial agents?
      • Communication is king. Inform each customer of what you are doing to improve the safety of your employees and in turn protect your customers from spreading the virus.
      • Wearing your Personal Protective Equipment (PPE) such as  masks, gloves, shoe covers and carrying disinfectant spray/gel.
  • Offer Incentives
    • Property owners may consider postponing replacement work, opting for repair/servicing jobs as it will be ‘lesser in value’. Instead of missing out on the opportunity and selling the repair, offer an immediate incentive such as including additional work that you would usually charge for complimentary or waving of call out fees/membership fees.

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  • Offer Value
    • Create value for your customers. Don't just do the work they are expecting you to do. Fixing the leaking tap? Inform the customer that you can provide a quick flush of the other taps in the property as additional value for them today. Replacing downlights? Inform the customer that you can quickly inspect the other downlights for any charing, burning or fraying of other downlight connections.
    • A simple value-add is inspecting the property for the customer without leaving a quotation. Simply making them aware of the issues and educating them on why you believe it is an issue will provide a lot of value to your customer service.
    • Offering value does not mean short term capitalisation - it can mean planting a seed that you nurture into a customer relationship.
  • Alternative Payment Methods
    • Property owners may look to keep cash on hand, rather than pay large invoices. Becoming accredited with a payment plan facility will enable an alternative payment method for your customers.
    • Many businesses are refusing to accept cash as payment due to the risk of it spreading the virus. This may impact your business. Don't revert to accepting direct debit as that will seriously impact your cash flow. Organise with your bank for a POS terminal or sign up with an online payment system that will allow you to accept payment via card. 

 

You created your business strategy when the economic landscape was different. It is important that you review your strategy immediately and begin implementing changes that will see you through to the end of this pandemic. If you are uncertain as to how to implement technology and software into your business, reach out to one of our Partners today.

 

important strategies to consider for your trade business

 

Topics: Education, Business Improvement, COVID-19, Customer Support