Leveraging Online Sales in Difficult Times

The challenge for the small business owner or sales team is to avoid a difficult period that affects sales. While developing their business, big companies around the world are always looking for ways to solve this problem.

The COVID-19 pandemic accelerated the pace of digital transformation. When the pandemic occurred, everyone switched to the online system, including businesses. Of course this is not easy. Especially like a small business that is not used to the online system.

Businesses that cannot adapt to selling online will miss out on great opportunities to meet consumer needs and generate more revenue. In difficult times, time is money. With little money or resources, you want to stay productive or creative. Although it sounds difficult, it is possible to do.

1. Do business online

In 2021 Gartner revealed that 44% of millennials prefer to make transactions online. This statement may not really matter. However, when you hit a rocky patch, where every selling and marketing expense has to be scrutinized, that statement is impossible to ignore.

Recessions often accelerate existing trends, even increasing the chances of brands that cannot adapt to go out of business. For example, Blockbuster is a DVD and video game rental from the United States whose customers have abandoned it because they have switched to a streaming service, Netflix.

Moreover, the recession in 2008 further accelerated Blockbuster's inability to adapt to changes and consumer demands. Because of this in 2010, Blockbuster declared bankruptcy.

Change can feel scary. However, by doing business online, you are ready for change. At this time change the media you use to communicate with consumers. To increase revenue, take advantage of websites, e-commerce, chat and forms. This is done to secure your business in difficult times.

2. Identification of customer needs

This period is the right time to find out the difference between your brand and competitors. Know what competitors can't provide, but your business is capable of fulfilling. Finding this out can start by thinking about the ways your products and services can impact customers.

A study conducted by PYMNTS shows that 67% of B2B customers turn to purchasing from vendors that offer a “customer-like” experience. Although this trend originated in the B2C world, its effects are being felt in B2B. This is because today's shoppers expect the same experience they get as consumers.

Simply put, by offering online shopping the way shoppers expect it, you will automatically set yourself apart from competitors who have stuck to old ways.

Based on the results of the study, what does this mean for your business?

1. Low price, low change: this allows buyers to re-order or purchase additional products. Here you have to consider the time it takes to send invoices to customers and turn them into pages on your website.
2. Low price, high turnover: these are products you have, but not enough to sell because they are not worth the effort. To help with sales consider offering subscriptions.
3. High price, low turnover: to sell this product you have to try even harder. Because you have to make sure that buyers get what they need. For this you can use Zoom. However, before that, consider chatting and reading customer testimonials.
4. High price, high change: these are the products you can double down on when shoppers are looking for a ‘customer-like’ experience.

3. Use technology and tools that can help

It's only natural that you are worried about the online selling system. However, you don't need to worry, because now there are many technologies and tools that are affordable and will make your business easier. Whether you're a marketer, conversion marketplace, or even a businessman just starting an online business, there are technologies and tools that can help.

As an online first-timer, you may need technology and tools that can ensure that transactions are smooth and delivery can be scheduled immediately. Not only that, information on the buyer's transaction with the object of payment can also be assisted. This will all ensure that your business can still meet the needs of consumers and you continue to earn income.

When running a business, it can be hard to decide what to do, especially during times of uncertainty. However, this uncertainty also brings opportunities. One simple way to do this is to sell your products online.