Did your company generate too little sales in the last two years due to Corona? Read here which tips you can use to boost your sales!
Table of contents:
- The effects of Corona on small businesses
- How to increase sales after Corona
- GetMyInvoices helps increase sales
The most important answers to increasing sales for small businesses at a glance:
What impact has the pandemic had on small businesses?
According to a study by KfW, small companies in particular are struggling with losses in sales. Companies that employ fewer than five employees suffered a loss of around 41 percent in sales (as of August 2021). According to the analysis, trade (57 percent) and the service industry (40 percent) were mainly affected.
How can small companies boost their sales again after Corona?
Small businesses can counteract lost sales by:
- Adapt your communication to customer needs as best as possible
- If necessary, adapt your product or service to the changing wishes of interested parties
- Save time by automating processes (e.g. in accounting)
The Corona period has severely affected small businesses. During this time, companies have made a lot of changes to stay afloat. Inevitably, meetings were held online and, at times, people worked completely remotely. But even worse: many entrepreneurs had to watch their sales collapse.
The effects of Corona on small businesses
The pandemic has been challenging for small businesses. The lack of sales in particular pushed many people to their financial or emotional limits. But how bad were things really for small businesses during the pandemic?
Over 40 percent of all small businesses experienced a loss in sales
According to an analysis by KfW, small companies have suffered more from the economic consequences of the pandemic than medium-sized companies. Around 41 percent of companies with fewer than five employees suffered losses in sales long after the pandemic began (as of August 2021). In addition, the equity ratio has fallen for 24 percent of these companies. The retail sector was particularly affected by the decline in sales at 57 percent and the service sector at 40 percent. This is not surprising considering that many retailers were unable to open their stores or service providers were unable to practice their trade during the lockdown.
With these ideas you can increase sales after Corona
Fortunately, the pandemic appears to be slowly but surely overcome. This is also necessary because: Your company should use the economic upswing to put the sales losses of the past two years behind it. You can take these measures yourself to boost sales:
Adapt your communication to the needs of your customers
You probably conducted calls and meetings online during Corona. Perhaps you have also become more present on social media. You might not have made these changes so quickly without the external circumstances caused by the Corona measures. What was once an unavoidable evil can now benefit you. The more efficiently information is passed on in your company, the more time your staff can invest in increasing sales. Social media channels can also help to increase the reach of your products or services. Because when your company is more visible, you reach more potential customers. You should also ask your customers which communication channels they prefer. Many people may prefer to continue communicating online. But perhaps you also have interested parties who are consciously looking for a personal conversation on site again. Try to adapt as best you can to your customers’ communication needs – your prospects will appreciate that!
Does your product or service need an update?
Are your products still relevant and solving a problem for your customers? There may be less demand for your goods or services after Corona than before. In this case, you should think about necessary changes - or offer a completely new product or service. Let’s assume that before Corona you had many companies as customers who supplied you with office supplies. Today the need may be different: many skilled workers will remain in their home office even after Corona. Now it might make more sense to offer smart solutions to problems in the home office. For example, through space-saving and ergonomic equipment in the home office.
Free up time by automating processes
Is accounting still done analogue in your company? Does every step have to be done manually? Make it easier for yourself and automate processes , wherever possible. This also includes digitizing files and archives instead of housing rooms full of filing cabinets. Automation and digitalization go hand in hand. The change is worth it: if you make progress in this regard, you can save resources. Your staff can use the freed up time to increase sales. Financial resources can be invested in cheaper online tools instead of printer paper. By digitizing documents, you also save on room rent for archives.
