How to evolve your business model as times change

Are you prepared to meet the needs of new customers?

We’ve been navigating our way through uncertainty for a few months now, and I have to say: Small business owners are resilient.

In a time of stress and sadness, we turn around, adapt, and hope everyone, their families, and their small businesses are doing well.

I’ve written a lot about managing your small business during the pandemic, from “How to Change Your Small Business Strategy During the COVID-19 Crisis” to “How to Create a Crisis Response Landing Page,” on our site. Web.

Now, we are focused on the next step: emerging from the coronavirus pandemic not just in one piece, but as successful entrepreneurs who have learned some valuable lessons.

As we move forward, it is obvious that some things change forever. In a recent survey, 81% of Canadians agreed that the crisis will create a new normal and have a lasting impact on society.

So as my province of BC, Canada begins to reopen businesses, it’s time to take a look at your marketing and assess if it still makes sense to your target audience.

How to define the needs of your customers

Let’s go back… all the way back to 1943, when Abraham Maslow proposed his hierarchy of needs. According to his theory, people are motivated to meet the basic requirements (food, shelter) before moving on to the more advanced ones (intimate relationships, sense of accomplishment).

During the coronavirus crisis, people have focused more on basic needs, like staying safe from COVID-19 and buying food. These different needs may also have led them to buy things they wouldn’t normally buy, like a lot of hand sanitizer or takeout multiple times a week.

Some of the customer behaviors we saw during the pandemic may be here to stay, such as:

  • Continue to wear masks in crowded areas and wash hands more often
  • Think more carefully before buying “wants”
  • Work/study from home most of the time
  • Choose brands that are the most empathic and aware

So ask yourself: how have your customers’ needs changed during this time? What do they expect from you?

How to evolve your business model to meet new customer needs

Just because we’re slowly getting back to a “new normal” doesn’t mean everyone is going to be hopping on planes and going to big parties. Especially for those who have been personally affected by COVID-19, it will be difficult to reintegrate into society, so to speak.

Here are some ways you might have to pivot to meet new customer needs:

1. Maintain/increase communication about health and safety measures.

A big part of transforming your business model will include how you communicate with your customers.

For example, salons and spas have been closed for months, and even once they reopen, consumers want to know what steps they’re taking to protect their health.

Some customers will not feel comfortable walking into a salon unless they know that certain health measures are in place.

Don’t be too quick to remove your COVID-19 homepage or health and safety messages from your website or Google My Business listing; instead look to update the copy with new information to reassure your customers.

2. Address new patterns.

If you’ve started offering heat-and-serve meals, curbside pickup, or telemedicine sessions to clients, they may look forward to that in the future.

This can be a good opportunity to take a closer look at what worked and evolve your business model accordingly.

If you’re not selling essential services, you may need to change your marketing strategy to address different spending behaviors. Many people have been hit hard financially and won’t have as much disposable income.

Others will have gotten used to a new way of doing things. Similarly, to what I mentioned in n. #1, COVID-19 has changed the way people consume certain services.

For example, a school may need to integrate more online learning into its model to attract students who are now used to and more comfortable with fully remote classes.

Many organizations are reconsidering in-person conferences and other events. Will employees want to travel to large convention centers to network with other attendees? Or will they also be happy with a virtual conference next year?

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READ: “3 Ecommerce Challenges and Solutions for Difficult Times” on our website:

There is no arguing that this pandemic has led to an increase in internet traffic as people work, socialize, and entertain themselves online. But an increase in Internet use doesn’t necessarily translate into increased sales for your small business.

Many consumers are hesitant to buy, either because they’re not sure when they’ll be able to use the service you’re selling, or because they’ve been laid off or have had their hours reduced.

That’s why I’m sharing 3 ecommerce challenges and solutions to help you sustain and even grow as an entrepreneur during this crisis.

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How can you best meet the needs of new customers?

No matter how your business model evolves, it’s important to remember that meeting your customers’ needs is an ongoing process. Whether it’s two weeks after the pandemic or two years, always:

Listen, listen, listen. From tracking your customer’s feedback to sending out a questionnaire, it’s never been more important to consider your customers’ sentiments.

Listening on social media can also be a great way to “check the pulse” of how your customers are engaging with your brand and content. Then use what you’ve learned to modify your marketing strategy going forward.

Always be attractive. I hope you’ve been doing this during the pandemic, but it’s also critical post-COVID-19. People will still be spending a lot of time at home for the foreseeable future, so create uplifting, inspirational, and/or informative content for your website, social media accounts, paid ads, and newsletters.

Pay attention to changing trends in your industry and customer behavior to guide your content strategy.

Here’s an example: During the pandemic, DIY was big, from home renovations to crafts. Nielsen reported that yeast sales were up nearly 650% from a year earlier as homebound people cooked up a storm.

So think about how your customers might be using your products or services and offer them some good content, whether it’s bread baking tips or how to get out of debt.

Regardless of what your business sells, communicating with your customers and reassuring them remains paramount. And remember: your customers can tell the difference between a sales gimmick and authenticity, so be sure to communicate value at all times.

So what comes after the crisis? Nobody knows it for sure. But by modifying your business model as needed now, you’ll be ready for whatever the future holds!

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