The CoVid-19 virus has taken us from the flow of daily life into precautionary isolation. While most of the world has retreated into the safety of their homes, global Business markets are struggling to stay afloat. The corona pandemic has forced nations into reprioritising health and safety above all else.

What does that mean to organisation owners? 

• Companies that are no longer prioritised as essential are forced to conduct business activity from their homes to reduce cross-contamination risks.
• Income generation is more difficult as the world steps into crisis mode and spending reduces. 
• International borders for key market players are now closed which affects imports and exports and as a result pricing and availability. 
• Countrywide isolations mean business activity is no longer carrying on as normal and affects global supply and demand.

During these confusing times, it is important to approach the operations of your business with a comprehensive strategy. eCommerce business models, in particular, could incorporate any of our b2b business ideas and craft the ultimate sales management solution.

Read CoVid19 : What your B2B Ecommerce Business Needs to Do

4 Tips to maximise eCommerce sales

1. Understand seven-dimensional propositions

Utilise this seven-step checklist to ensure your company is legally compliant while conducting business activities.

1.1 Protocol

Ensure you have understood and implemented government instructions and put adequate measures in place to maintain the safety of your staff. 

1.2 Liquidity and plan

Ask yourselves two questions:

1. How long would you be able to weather the storm of a declining economy?
2. Are there any contingency plans in place? 

Your first initiative should be to ensure all taxes and salaries are settled. With no outstanding payments, understand what your cash flows, balance sheet and accounts are telling you. Isolate any issues to liquidity and build plans to combat the same. 

1.3 Taxes

PAY THEM! Ensure your tax payments are correctly submitted and on time. Skip the worry of fines when the financial year closes.

1.4 The “Force Majeure” clause

The worry of contractual obligations being unmet lingers around all businesses at this time. The “Force Majeure” accounts for circumstances beyond control which intervene and impact business operations. 

This clause may be as detailed or vague as necessary. Reach out to clients or suppliers to introduce keywords such as “virus”, “outbreak”, “pandemic” or “quarantine”. Keep business activities transparent even while they cannot be conducted. 

1.5 Review contracts

On the subject of contract addendums, now would be an ideal time to reread the fine print and ensure business activities are conducted with the pandemic factored in. Use this time to renegotiate sustainable terms for both ends of the transaction and clarify any terminations or defaulting. 

Ensure your subcontracts offer a business solution to aid recovery post isolation. 

1.6 Logistics and managing supply chains

Maintaining safe delivery channels can be difficult. Exercise extra caution while reworking your supply chain and translate this to customers to retain business. 

Communicate with your suppliers and logistic providers and ensure their rights and obligations are crystalline. Account for the additional costing for implementing more niche safety measures and ensure any stoppage or delay of business activity is accounted for within all agreements. 

1.7 Marketing

Drive customers towards your online platform by introducing purchasing incentives. These could be price discounts, complementary products, reduced shipping costs, etc. This highlights your understanding of your customers’ situation and gives them further confidence that your organisation is aware of their needs. 

2. Take care of ALL your stakeholders

Follow the rules and guidelines offered by governing bodies, business organisations and legal bureaus to insulate your business from the rising issues accompanying the virus. The same goes for managing your customers, employees and anyone that plays a role in your organisation’s activities. 

Keep your company ethical and an ally to the teams that support it by incorporating;

2.1 Empathy and strategy

The turmoil faced by your organisation is on a global scale. Everyone is having issues making ends meet. Understand their situations to help maintain business relationships. 

Venture into digital avenues to boost your communication abilities with your stakeholders and express your willingness to adapt. Revisit older leads and check in on their ongoing sustainability.

A helping hand can often build new relationships while maintaining the old ones. 

2.2 Variety

Diversify the pool of retail products and services to maintain income. If your organization is able to fill a need in the ongoing battle against corona, why not jump in? The end result is beneficial to the community as a whole and encourages cash flow. 

Remember, the epidemic is not an excuse to introduce a cash grab so be sensitive and really want to help. Don’t see this as purely a business opportunity.

2.3 Panic is NOT your friend

Keep calm and do not make any abrupt decisions. We understand the stress of not being able to run your business the way you need to. To introduce unplanned and vaguely detailed business decisions out of fear, or not knowing what to do could bring you closer to deeper financial ditches. 

Research your decisions. Make sure they are viable.

2.4 Morality and law

At a time when tensions are high, it is definitely easier to get away with lax protocols and sloppy business practices. Do not indulge. The effort taken to build a brand’s credibility could be wiped out in an instance with poor business ethics.

Do not exploit your customers with exorbitant prices and poor professionalism. It will cost you income in the immediate and customers in the long run. Be considerate of global circumstances and tag your brand to sentiments of genuinity. 

3. Introduce digital mobility

While we may be geographically barred, online traffic is thriving. Incorporate digital elements to grow your eCommerce business effectively during the CoVID-19 quarantine. 

3.1 Virtual customer service

Talk with your customer service team often to discuss customer issues in depth. Offer solutions quickly. Expand your customer service team if possible and offer increased support via emails, video, webinars and chatbots

This would be a great time to make more personal connections with your customers.

Read The do’s and dont’s to stay connected with your customers through the coronavirus outbreak

3.2 Communicate

Introduce an ironclad chain of communication between all points of interest within your organisation. With everyone working from home, keep communication easy may to maintain some degree of normalcy with business activities. 

The quicker the communication the faster the results. 

3.3 Stay protected

As we move our communication methods to the virtual sphere, it’s protection is just as important. The virtual space offers as many security threats as it does benefits.

Incorporate the right suite of security products to ensure your data is secured internally from leaks and thefts, as well as externally i.e. from hackers and breaches. Invest in good digital security software and follow best practices to protect yourself from cyber-attacks. 

3.4 Support desks

Resolving IT issues is no longer a hop over to the right department. Enable your team to solve issues as they rise with access to round the clock assistance with computing or any other issue that might crop up. 

Here are 9 Tips to Set Up Your Home Office to Maximise Productivity

4. Ask yourself these fundamental questions

It is definitely easier to offer advice than execute it, we understand that. The actions themselves may be hollow if you as a business owner are not convinced the course plotted is even beneficial or in line with your business goals.

This may be a good time to take a step back and ask yourself:

• If I were to gain clarity on one of the single most important factors to the operation of my business, how will it affect growth?
• What are the operational risks that are apparent within my business? Are there contingency risks? What can I do about them?
• Do I currently possess adequate resources to enable growth for my business? If not, where and how do I reach them to create long term value? 
• Now that the dynamic has shifted to more execution-oriented, how do I assess the performance of my business?
• How do I encourage all my stakeholders (especially my staff) to take ownership of their responsibility to keep our business afloat?

The ongoing reality has no conclusive date. Business owners now have the discretion to push business activities forward or withdraw and strategize. Our advice is to incorporate a firm foundation with flexible building skills. Ensure your organisation is not trapped in uncomfortable situations by remaining malleable to both your interests and that of your customer.

Approach your business with genuine kindness during this time of struggle. This will allow your company to cement itself as trustworthy and considerate. Employ business, legal and social ethics as the backbone of your establishment. It will not only help generate income now, but will also encourage good faith after. 

Stay home, safe and active!

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