Empowered Life Empowering The Filipino
The Philippines Statistics Authority recently reported a lower unemployment rate for July vs the high 17.7% recorded last April. As the country slowly recovers, the third quarter saw a restoration of 7.5 million jobs, with many Filipinos choosing to start their own business.
Without a doubt, it is difficult to navigate business ownership during this pandemic. Here are some tips to help you deal with the issues that arise with running a small business in challenging times:
Uncertainty of going online
It’s imperative to find creative ways to stay afloat and succeed, even during the pandemic.
Pivoting to an online way of business will help you maximize revenue and improve your margins. Equip yourself with a variety of easy-to-use tools that can help you build your online presence – from e-commerce solution Shopify to online design tool Canva.
Relying on a single channel
Reach your buyers online by developing an omnichannel digital marketing strategy. Automated AI and data science tech such as Alavi can help you manage campaigns across different channels.
It also pays to have several sales channels, may it be adding functionality to your website, or investing in an online chat tool.
Redundant product offer
Consumer preferences are constantly changing – what more in the context of a global crisis? Before investing in sales and marketing channels, you have to make sure that your product or service has value in this time of need.
Learn to repurpose and adapt your offering into what you can contribute to your community. Several businesses have chosen to manufacture hand sanitizers, PPE sets, or even donate proceeds to good causes.
Juggling work with home life
Increasing demands at work and home on top of the COVID-19 crisis will inevitably lead to burnout. Household responsibilities may affect your work, and dealing with deadlines will spill over onto family time.
Strike the right balance between these two facets of your life. Remember to take a step back and have a mental health recharge, may it be through video calls with colleagues, or virtual happy hour sessions with friends.
Sources: Later, 360 Integral Marketing, Inquirer.net, Campaign
