10 Quick Tips for Brands & Retailers to Weather the COVID-19 Crisis
We are navigating through tough times. As each day unfolds with a new update, a new turn of events, one realises how much is changing in a matter of days, hours and minutes. So much so that all our best laid plans seem irrelevant now.
In wake of such unpredictability a kind word, a gesture in support, a quick tip or just plain reassurance works like a balm.
This too shall pass is the only mantra to keep RESOLVE & stay RESILIENT. It’s times like these that humanity puts its best foot forward as we stand together in support. From donating supplies, offering assets for free or simply re prioritising, each one is stretching above and beyond in support.
As most businesses re prioritize, we crowdsourced some useful tips for you to navigate through these tough times.
- Sanitize, Sanitize, Sanitize! Keep self, teams and products germ free
- Stay focussed on Safety, Business Continuity and Supply Chain
- Revisit the Financial Structure and see how one can weather a temporary global downturn
- Reduce Burn Rate, Renegotiate Payment Terms & seek new ways to make money
- Stay Relevant and Show Support. This is not the best time for tactical campaigns to sell more. Show support instead, conserve cash and use it where it matters
- Nurture Existing Customers. They will stick around and spend beyond the crisis period
- Make Digital Mainstream, rather than just a clearance channel
- Focus on Multichannel Communication and keep customers updated – on delivery timelines or delays
- Move through this time with a purpose – Repair, Reinvent, Refurbish – be it in self, business processes, products or customer experience
- Above all Give Hope – Reach out to your people, clients, partners or customers – past, present and future
We, at Vinculum, wish to give our customers the assurance that we have set processes overnight to ensure that your business runs smoothly. We have thought through all steps in the face of continued disruption to operations. Our robust BCP and DR processes/plans will ensure minimal or no impact to your business.
As a company that enables Brands and Retailers to Scale Faster, we stay committed in our support of our customers globally as they cope with the situation at hand – every time and especially now when it matters! So #StaySafe and let’s resolve to overcome this crisis soonest.
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