To protect themselves amid COVID-19, small businesses must focus on existing customers

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 13, 2020, 2:14 AM UTC

Sending regular emails and offering free content can help retain them.

This article shares measures that small businesses can adopt to protect themselves amid the pandemic. The article suggests rolling out offer vouchers that customers can redeem at a later date and time. This approach would be effective for businesses that need customers to be physically present to make a purchase.

Moving events online or offering or taking up courses online are other measures recommended. To take courses, companies can learn from online webinars to upskill and learn new things. The plan for the next 12 months must be based on the analysis of the cash in hand.

Focus on customer retention over customer acquisition, as existing customers could become “business saviors”. Further, the author recommends partnering with other businesses to upsell and cross-promote each other’s products.

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