Checklist: How to be a winner during COVID-19
Every crisis provides an opportunity for new growth – even if it doesn’t seem that way, at first sight, history has shown it many times. Therefore, use the additional time currently available and analyze your current business model, internal processes, and technical solutions. Here is a small toolbox for you to start creating and implementing plans in the context of the current crisis.
WANT TO INCREASE TURNOVER?
It is a fact that crises change customers’ consumption habits. Today’s change also lays the foundation for new habits for the future. Therefore, review your target customer segment and, if necessary, make adjustments in the new conditions. There are many new consumer groups, who are also interested in your products/services today. Be available in the right channels for your customers, be flexible and maintain your customer relationships.
- Customers’ consumption habits are changing – are you ready for that and available in new channels? For example, read the story of Eesti Energia.
- Customer segments are mixing – review existing customer segments and widen your potential clients’ circle. As peoples’ habits change, you must be prepared for a change.
- Is your online sales channel customer-centric, well-designed and reliable? For example, read the story of Telia.
- Analysis of the supply chain – do the partners offer suitable contract and delivery conditions or are you flexible enough for your suppliers/customers?
- Do you need a warehouse or can you use a logistics partner and offer even a wider range of products from many different suppliers? Have you implemented PIM?
WANT TO SAVE?
Scalable and future-proof business processes ensure greater savings today and multiply the earnings as the economy recovers. Automate processes, provide your employees with relevant tools to make smarter decisions and focus on what matters.
- Standardize processes to save your resources.
- Automate the business processes you do manually today and give employees the opportunity to work more profitably.
- Map, whether your employees have the right tools or do the company, have the necessary solutions to continue with a smaller workforce?
- Can your employees use all the solutions well enough?
See, for example, the story of Saku Metall.
WANT TO MAKE QUICK DECISIONS?
Today, more than ever, you need a quick overview of important business data to respond immediately to changes. Systems integrations, real-time data, and comprehensive business analytics help increase transparency and business sustainability.
- Do you have a real-time overview of orders and sales?
- Are the systems well-integrated and data from different sources clearly wrangled and interpreted?
- Are the reporting tools and processes automated?
Read the story of East Capital and Toyota Baltics.
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