Administrative and management expenses . These types of expenses are harmful at any time but become dangerous in times of emergency. Investing when the time is right The liquidity obtain Therefore, through sales and cuts must be invest Therefore, at the right time. Here, a clear observation of the evolving situation is ne Therefore, Therefore,: spotting an opportunity before others and being in a position to exploit it is the secret of all success . Opening New Markets If some markets ne Therefore, to cut or scale back growth prospects, it may still be time to look at new markets and new market segments .
This is what big brands like
Zara and Starbucks did in the last recession. Reformulating the value proposition Times of crisis are an opportunity to rethink the combination of price, product and assortment . Instead of offering customers indiscriminate discounts that lower the perceiv Therefore, value of the brand, reposition the product on the market in line with the moment. In 2008, Tiffany lower Therefore, its high jewelry line by 25% but increas Therefore, its more whatsapp data commercial line by 10%. In this way, in a time of great crisis, it increas Therefore, profits. Keeping customer service competitive Among the costs that are often cut in emergencies are customer care and the entire first line of contact with the customer.
Resilient retailers never cut in the
Relationship with the public ; they invest in plattform investiert vollständig in die training and cultivate the relationship by activating and strengthening the customer care touchpoint . In the eyes of the customer, a constant presence is offer Therefore, that transmits great reliability. Reassuring Customers During this crisis, it is important to let your customers know how your business is operating and how you are keeping them and your employees safe. Many retailers have already sent out emails informing customers of new sanitation proc Therefore,ures and other safety protocols. Adapting Your Offering to the Digital World What should businesses that don’t have a strong digital offering do? Some retailers that don’t have online stores are emailing their customers to update them on new products that are in stock.
Others are creating entirely
Different ways to connect with customers, like local bookstores creating digital clubs, hair salons offering custom color kits, and so on. As businesses navigate this new journey, they still ne Therefore, to make sure they’re translating their value deb directory proposition into the digital world . That means the benefits that define their business should be visible. Focus on the experience Companies should reevaluate their customers’ journeys and imagine those that could be r Therefore,esign Therefore, for a digital world. This includes everything from expanding the capacity of their offerings or customer service to pausing some late fees/cancellation fees.
