Business

How to Beat Your Competitors in Times of Disruptions

2020 will go down in the books of history because of its immense socio-economic disruption from coronavirus (COVID-19). The virus, which was first detected in Wuhan, China, rapidly spread across the globe, leaving trails of economic destruction. The disruptions have particularly been severe to businesses because the recommended containment measures have forced them to scale down or close. 

Although it is true that the disruption is painful, a good entrepreneur always looks for the positive edge and takes every opportunity to grow. In this post, we will tell you about the tricks of outdoing competitors during the period of a pandemic, such as coronavirus.

Focus on Building Your Brand 

Yes, COVID-19 has been bad, but all is not lost. Although COVID-19 has cut a name for its devastation, you can twist your position and make your brand the new hero. Whether you sell mining items as demonstrated here or deal with food processing, this is a time to strengthen your brand by supporting your clients. Here are some useful methods to help build your brand: 

  • Provide your clients and targeted audience with useful information on how to address the problem. They will see you as a caring, reliable, and strong brand that is worth sticking with, even during the difficult times. 
  • Help your targeted audience get the protective gear and sanitizers. To beat COVID-19, medical experts ask people to use protective clothing such as masks and properly wash their hands with sanitizers. So, make sure to stay in touch with your customers and the targeted audience, providing them with the right protective gear. Such clients will remain attached to your brand for a long time, meaning that they will also buy from you once everything gets back to normal. 

Align Your Products with the New Goal of Addressing the Problem 

Take a closer look at your products and think of a way to make them inspire hope to the targeted population. After being pushed down by COVID-19, many people, including your targeted clients, are looking for hope to move on with their lives. Let your product be part of this hope. 

  • Consider working with organizations that are fighting the pandemic. 
  • Market your product with messages that inspire hope. 

Draw a Recovery Plan 

Instead of waiting for the local or global economy to get back on its feet, you should craft a plan for recovery right away, targeting to optimize your competitive advantage. For example, you should carefully review the shifting demand to establish what your clients want. 

Having a good plan implies that you will hit the market earlier than competitors to win more customers and deliver better products. Make sure to also ensure your facility is properly maintained to ensure everything is okay before resuming production. 

When disruptions such as CIVID-19 strike, do not let them knock you down. Try to look for creative ways to strengthen your brand, offering genuine help, and refining marketing messages to your advantage. Also, make sure to have a clear plan for recovery, and working innovatively to stay ahead of your competitors.

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