Data from the Small Business Coronavirus Impact Poll conducted in June 2020 found that small businesses in the United States reopened partially in some capacity and were optimistic about the future, despite some of the ongoing challenges related to and caused by the COVID-19 pandemic.
This poll showed that in months, small business owners’ perceptions of their cash flow and revenue improved: 56 percent were comfortable with the cash flow of their companies, an increase from 48 percent in May, and almost matching the 59 percent from late March at the start of the pandemic. Fifty percent of the small businesses expect their revenues to increase next year, an improvement from the 47 percent who reported they expected increases back in May.
Whether you think it will take a long time for the economic climate of small businesses to return to normal or improve, or if you are operating a partially or fully open company, you, too, can expect increases in your revenue. Following the steps listed below, you won’t have to wait for next year to see gains; you can boost your revenue during the coronavirus pandemic.
Sell Products That Are Currently In-Demand
The coronavirus has had a positive impact on e-Commerce: more people shopped online. They spent more money this past April and May than during the holiday shopping season, November and December.
Furthermore, online sales by people using their smartphones and mobile devices to shop accelerated. The share of products consumers purchased via smartphone increased ten percent. Additionally, some smartphone shoppers included in this data are new online consumers.
Small business owners can benefit from this increase in online shopping by ensuring they have a functional business website where consumers can remotely browse and shop for their goods. Including pictures and brief descriptions of products and the prices they charge for them on web pages can give customers an accurate idea of what to expect of a business’ goods and services.
Studying market trends, consumer patterns, or how well certain products fare can help business owners know which goods are in-demand. Using this information can help business owners know which products to get more of and keep in stock.
To acquire popular tangible goods to sell, business owners should consider buying wholesale liquidation pallets. Purchasing liquidation goods at wholesale prices is a profitable, practical way to acquire products for launching or boosting a business.
Liquidation goods typically result from retail merchants and corporations that go out of business and have remaining inventory and stock worth billions of dollars, as well as companies that are still active but need interested buyers.
Successful sales of liquidated pallets from reputable liquidation companies can be the catalyst for purchasing more liquidated goods, keeping a business active.
Enhance Your Transparency and Customer Service
Being more transparent with customers about the goods and services your business offers can increase their trust in your brand. Building trust and having open communication is essential to having a long-term relationship with your consumer and customer base in your market.
During the coronavirus pandemic, businesses are likely relying on answering services and call centers to contact consumers and customers via inbound calls and outbound calls.
Utilizing the best technology for an inbound call center and an outbound call center—that created by Bright Pattern—can help you quickly reach out to customers and give them useful, necessary information.
Businesses of all sizes can use outbound call centers for collections, sales prospecting, appointment setting, marketing campaigns, and more. Amid this health crisis, outbound calls for marketing purposes can be beneficial. Marketing certain products, especially those in-demand, and giving information on them, can help boost revenue.
The innovative outbound call center software created by Bright Pattern empowers outbound call centers to be as productive as possible. It includes automated technologies that allow agents to avoid wasting time with routine tasks like manual dialing and dealing with unanswered calls. Bright Pattern’s outbound call center software has several dialing options for businesses to choose: preview, progressive, predictive dialer, and automatic (IVR) modes. Bright Pattern delivers robust campaign and list management capabilities, web callback, call scripting, screen-pop, and more, optimizing call centers. Using this one-of-a-kind technology enables organizations to enjoy seamless communication with clients and deliver the best customer experiences.