A pandemic novel coronavirus has attacked the global economy. Expert suggests that social distancing is the most effective remedy to combat COVID 19. There have been lots of discussions take place about how covid 19 Impact on Business and menacing the future of many organizations. The customer requirements have declines hugely due to social distancing, state-wise, and nationwide quarantine. The travel obstructions and job insecurity is now the biggest concern. The stock market is thrashed due to the virus. However, we can just hope to come out of this situation sooner or later. The quick transmission of this virus is hazardous to human being. The business fraternity has to re-organize its customers and staff to return to the normal mode.
Covid 19 Impact on Business
A renowned digital marketing agency says due to a huge drop in customer’s absence, sales of companies have reduced up to 85%. This has badly affected the business, such as travel, transport, movers’ packers, and all that. There are now many difficulties for businesses. Specifically, B2B sales which have separate sales funnel those B2C companies. Companies are struggling midways of COVID 19 , the financial crisis the natural output of inclusive lockdown. Businesses are waiting for green signals from authorities and administration. But companies are also concerned about the COVID 19 impact on business and health issues of their workforce.
It is not easy to stand again after sales drop due to Novel Corona Virus. On the absence of business events, how will leads be created It is a big challenge for companies to generate leads for their business. There were lots of trade shows, exhibition and events were held, but due to this pandemic, every event has been postponed or cancelled. Covid 19 impact on business adversely. It becomes problematic for companies to retain work for the employee, as they are not getting revenue. Experts are expecting that the economy will bounce back after 2-3 months. The effect at the top of the sales funnel is absolutely important, but challenges are big, which also need to consider
What options have left for companies?
Unluckily, there is not a definite answer to this crisis. The situation has become out of control in many countries in Europe. However, the Indian government is doing a satisfactory job of preventing this pandemic to not spread like community transmission. We need to analyze tactically to make sure that organizations start to develop a constructive sales funnel to boost sales chances at the closing and make sure that there are sufficient possibilities at the top of the funnel level from a business sustainability viewpoint.
Online events and webinars
Online events and webinars are now effective steps to re-establish business. The specifically designed webinars for different industries visually attract your customers. Interacting with potential clients through one to one communication increases the chance of sales. Webinars deliver appropriate possibilities to indulge with vision who are working from their residence or busy in social distancing at the time of coronavirus.
Podcasts have become famous but are always underestimated and less employed by several brands who haven’t identified the flawless tactics to generate this type of material. Companies generate effective podcasts by creating ear-soothing content. It should address the intention of end consumers. Consider informative content, discussing business problems, suggesting solutions for a specific issue, and interact with the client on the podcast. The podcast must enhance value to the listener or customers.