Many companies are suffering right now due to the current health crisis. Businesses have been forced to shut their doors and are waiting for the country to "open" again. News of a government stimulus has many thinking of ways to invest back in their business.
Ways Business Have Transitioned Online
Meeting through video conferencing
More reliance on text messaging & email
Remote networking & cloud file sharing
Reliance on digital marketing
Contrary to what the rest of the country is doing, it's been business as usual for many. Particularly for businesses involved in home service and delivery - there are many industries actually thriving in this economy.
Industries Most Impacted By Coronavirus
Restaurants, Food Service
Entertainment Industries
Travel Industries
Health Care Services
Educational Services
Pretty much any business that offers a service depending on the public to leave their home is suffering right now. Competing for foot traffic is difficult at the best of times, but these businesses are at a stand still right now. As the country holds it's breath - their businesses are on pause.
There Is Hope On The Horizon For Many
The U.S. government is set to start sending out over $2 trillion dollars in stimulus money to businesses and individuals that have been effected by the pandemic. This stimulus money is intended to restart a dragging economy. With gas approaching the $1.00 a gallon mark, Wall Street has been rallying a bit despite the rest of the economy being in a veritable tail spin due to the Covid-19 pandemic.
The businesses most impacted by the health crisis are eligible for grants and stimulus money from the government. For small businesses in particular it's a rare opportunity to re-invest this money back into their business.
It's Time To Reinvest In Your Business
Many companies will emerge from this stronger because of a willingness to reinvest back into their business. Businesses that opt to invest in their marketing or in their technology during this time will find that it's a smarter investment than Wall Street at this point. Definitely smarter than stockpiling toiletpaper and hair dye.
Read more about how businesses are marketing during COVID-19.
Smart Ways To Invest Your Stimulus
Enhance your company website
Increase your social media marketing
Invest in digital marketing
Revamp your business to sell online
Invest in a remote strategy for doing business online
If you're looking for solutions on what you can do to increase your leads or sales, hopefully this article gives you some hope. If you need a partner to help you get there, give us a call at (916) 467-9118 or contact us online. We're commited to helping businesses just like yours achieve their marketing goals and make a smart investment in their company.