Updated: May 4, 2020
Use some of this "downtime" to plan your operation and prepare your business for the "New Normal". Below is a comprehensive checklist.
Your goal is:
To achieve the goal, purchase
Your goal is:
Some ideas on how to achieve your goal:
Your goal is:
Mentally prepare for the following:
Some ideas on how to prepare your space of re-opening:
Your goal is:
Some ideas on how to create a calendar of events:
Your goal is:
Some ideas for customer check-in process:
What's good for health is good for business. See below for some tips on communicating with customers.
Show new and existing customers you are taking proactive measures to prevent the spread of the disease and you're creating a safe environment for them to engage with your business.
Do this:
Create a new section on your homepage and call it - "Our Covid19 Response". See how we did it on our homepage.
What to highlight:
Free Website from Occasion:
On April 15th, we launched Journeys, a free website builder to help you lower your monthly expenses, upgrade the design and make it mobile friendly.
Show customers that you are taking regular steps to clean your space and provide them with a safe environment.
Do this:
Print and post your "Cleanliness Code" so it's visible to your customers.
What to highlight:
Have a dedicated section in your email newsletters to show your continued effort to prevent the spread of Covid19 - this will go a long way in encouraging your customers to do business with you.
Do this:
Towards the bottom of your email newsletter template, create a section called "Our Covid19 Cleanliness Plan" and link it to the section on your website as suggested above.
Delight new customers discovering your business for the first time via social media by showing you care about their safety and health.
Do this:
Record a video using your cell phone, upload it to your Facebook page, Instagram, Twitter, Pinterest, TikTok or wherever else you are.
See example to the right.
Adjust your business to operate in this new reality with social distancing and health safety as high priorities.
Customers are going to remain uncomfortable going out and doing things in large crowds or with strangers. This will have negative impact on your revenues for the foreseeable future.
We believe your only business objective for 2020 should be to remain in business. We recommend cutting your monthly expenses by 25% immediately to adjust for a shortfall in revenue.
Here are ways Occasion is helping your reduce your monthly expenses:
Making money in the "new normal" will require your creativity and willingness to do things you haven't done before.
In-person events will recover when you re-open but only partially. So, you will have to combine them with at-home experiences that are virtual to grow your revenue faster.
Click on your state, province, or country to see your estimated revenues for the rest of 2020.
Consumers want more experiences but there are some collective challenges for us to overcome
Social distancing withstanding for months, people doing more virtual meetings and events, skepticism about quickly returning to normal is strong evidence consumer behavior has changed.
We are betting that this change in consumer behavior is permanent and will become acceptable as months go on.
Businesses that are able to offer at-home experiences will grow much faster and recover more quickly than those businesses tied to in-person experiences.
Learn more about how to offer at-home experiences through Occasion.
People are losing jobs and hence, losing their incomes. The job losses initially were in hospitality related industries but now, are rippling to other sectors of the economy. This may take months if not years to recover from.
Typically after a recession, people start saving more. However, after a depression (deep recession), people start saving a lot more. See chart to the left.
With a lot fewer people with jobs, and those who work saving more, overall consumer spending will be much less.
Big box stores have stopped paying rent and are closing. Subsequently, malls or strip malls will experience low traffic. It is predicted that 50% of all malls may close by 2021.
If your business is mall dependent or strip mall dependent, this may hurt your chances of staying in business at that location. Hence, your physical location will also contribute to how quickly your business recovers.
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