We are fighting the Corona Pandemic hoping that with adept measures, we will eventually succeed. Emphasizing on creating a synergy between business and society, learning from our past and present experiences, is what will see us through. Women entrepreneurs have been contributing to the growth of our economy and this halt brought about by Covid-19 situation has in a way provided the much needed rebooting to support women entrepreneurs to help them grow – to help the economy to grow. For this we need to accelerate some long term trends such as:-
- Increase marketing spend: Yes, you read it right! According to experts, consumers find it reassuring to hear from the brands they have so far relied on/believed in. Also, you don’t want to lag behind competitors when the economy actually starts building up again. Advertise in accordance with the present situation, as this will help consumers relate to your services. Furthermore, nurturing your connections and reaching out to up your networking will certainly spell growth for you.
- Decode digitization: Being agile for the new ‘normal’ means being tech savvy and bridging the digital divide. If, as suggested by some scientists and researchers, social distancing may carry on till 2022, online mode is the only means of connecting, advertising, delivering and thus growing. No matter how much time it takes for the virus to be completely eradicated, the consumer landscape once changed and adjusted to this situation, cannot be easily reversedto the ‘older’ system of paperwork and personal interaction. So, make sure that you remain active in this digital world to prevent yourself from becoming obsolete to your clients.
- Care for old clients, look out for new ones: It is a known fact that the pandemic has hit businesses hard, almost grounding some industries! Businesses are struggling to maintain normal operations and this could be your cue. Expand your clientele network. Virtualize and reach out, putting in effort to bringing in new clients – this will also broadcast your confidence as a company in troubled times, thereby reassuring existing clients about their investments being secure.
- Stay relevant: Making changes which mark them ‘relevant’ not just during but also post Covid-19 will be the game changer. Preparing solutions to a multitude of situations will further strengthen your strengths. However, don’t forget what the pandemic has taught us- solidarity in humanity. Be genuine in helping your clients and this will make them lean on you.
Covid-19 has been unruly but it has also been the reason for many developments and innovations; with technology shattering the barriers and creating a more progressive society. Yes indeed, a global crisis can either paralyze a situation or galvanize the society to thrive….but the DNA of a woman entrepreneur never does paralyze – come what may!
Avtar Madan
Himanshu
Shree Lahiri
