Vancouver Business Coach | Growing Your Business In A Pandemic
Hi there! Welcome to the Inspired Method Marketing and Business Coaching YouTube channel. My name is Trevor, and this is my business partner, Josh Spurrell from Spurrell & Associates, Chartered Professional Accountants. Our topic for the day is “Vancouver Business Coach: Growing Your Business During the Pandemic.”
I have a quote from Albert Einstein: “Insanity is doing the same thing and expecting a different result.” How often have we seen that? Many times. Now, here’s a quick statistic for you: 81% of American small business owners work overtime. I could say that’s probably true for Canadian business owners as well, but it’s difficult to find stats for Canadian businesses since we don’t record as well. Regardless of your feelings about the coronavirus pandemic, entrepreneurs need to do what they do best: adapt to changes and capitalize on new ideas quickly.
Here are some tips if your business hasn’t been completely shut down. The first tip is: do not stop marketing; increase your spend if you can. This is hard because we’re programmed to tighten the belt when things get tough, but all of your marketing dollars in a contraction affect your top line and market share exponentially. If everyone else is cutting their marketing budget and you’re maintaining or spending more, every ad dollar you spend goes further. I’ve seen this happen with many of my clients’ accounts during the pandemic. We’re seeing more clicks, impressions, and the ad spend going farther. So, don’t stop marketing.
Next, take advantage of all the free platforms to market to your audience. We’re right here on YouTube, the second biggest search engine in the world. It’s easy to get a local video to index, but you’ve got to put in the time. You can put the same video on Facebook and IGTV as well. Even if you are locked down, you may have more time than money. So, no excuses—get some content out there. Use social networking platforms and local sites where you can tell people, “Hey, we’re still open, come support us.”
The third tip: make your customers feel safe. It doesn’t matter how you feel about the coronavirus; it’s how the customer feels. Business owners tend to be a little contrarian, but the average person is getting bombarded with news about the virus, and they’re scared. You have to make them feel safe, or they won’t buy from you.
Next, find creative ways to get your products to customers in a touch-free way. For example, restaurants offering delivery, curbside pickup, or selling swag on their website. Other ideas include virtual service delivery, key drop experiences, or Zoom meetings. It might not be as efficient as the old ways, but maintaining market share now will pay off later.
Set up a payment processing system like Square if you haven’t already. Many businesses are still not accepting credit cards over the phone, and they’re losing out because of it. Don’t be consumed by the fees of payment processors—consider your time as part of the cost. Also, ensure you have a way to accept touchless payments. Some contractors are even asking for pre-payments to protect themselves during these uncertain times.
Collaborate with other businesses to expand your customer base. I have a client who owns a campground and has teamed up with local businesses to offer deals to campers. This kind of cross-marketing benefits everyone. Even if you’re an electrician, you could partner with a plumber to send out a joint email to each other’s customer lists. You can do a video just like this one together and expand your reach.
Next tip: pick up the phone and go for a walk. Right now, people are home, and it’s a great time to call them. Business owners who were hard to reach a year ago may answer the phone now. If you’re a residential contractor, go for a walk and put door knockers on houses in the neighborhood. Cold calling and flyer distribution are effective ways to reach new clients.
Once you get a customer, over-deliver. Do more than they expect. This will make them happy and increase the likelihood of them leaving a Google review. Google reviews are incredibly powerful for growing your business, especially during this time. The best time to ask for a review is when you’re sitting with the customer, but if you miss that, pick up the phone and ask. Send them the link via text, as email open rates are low.
Take advantage of all available government funds and programs to help with operating costs. Many business owners feel uncomfortable applying for these, but if you qualify, you’re just getting some of the money you’ve already paid in taxes back. Don’t feel guilty about it—it could help you stay operational during difficult times.
Finally, don’t quit. Don’t just stay at home waiting for better days. This may be the new normal for a while, so learn to adapt and take advantage of the resources available to you. That’s it for today. Thanks for watching, and we’ll see you in the next video.