HONG KONG – Some days it feels like we are living in an alternate reality; there are times where life feels somewhat normal. Depending on where in the world we live and what actions our local governments have taken will affect us all differently. Some folks are experiencing complete lockdown while others are experiencing non-essential business closure.
Although everyone in the world has been affected one way or another, this piece is more business-focused on your new reality as a business owner.
Few enterprises have increased revenues because of our current crisis. It does not take much effort to recognize that anyone in the grocery, paper products (including toilet paper and paper towels), courier, or hand sanitizer industries have skyrocketed. The majority of the remaining businesses have suffered substantial financial losses due to mandatory closures putting a massive dent in nearly every economy. Some will never recover.
There is a terminology called ‘the waterfall effect’ that will hit extra hard. As an example, local craft breweries over the last number of years in many areas have taken off. Many craft breweries are now reporting huge losses regardless of liquor establishment sales massively increasing. How could this be? The reason is that more than 50% of sales for many craft breweries come from restaurants and events. Think about when you go to a hockey game how many people buy a beer. Or perhaps you go to a nightclub or a restaurant, think about how much beer consumption exists. With revenues down more than 50%, this creates layoffs. Think about who looks after the art for the beer manufacturers, who looks after the packaging. You can now start to see the waterfall effect.
Our current crisis extends well past the beer or alcohol industry and will have an effect on many services; for instance, look at the beauty industry. Who does your nails? Who cuts your hair. As time goes on, many people are self-educating, learning to do tasks they never dreamed of doing. When our current crisis eventually comes to an end, are 100% of these people going to go back to the same old? Or will they become more thrifty and look to save a few dollars because money is tight?
As mentioned in a recent article titled “Creating Responsible Press Release Stories During the COVID-19 Pandemic” there is a significant number of people with increased times on their hands to read the news. At NovationWire, we believe this may be, in part, why we have seen a slight increase in the number of views of press releases submitted over the past few weeks. With less ‘Big Company’ press release new also out there, smaller businesses are seeing increased visibility. Bloggers and journalists are still looking for stories, especially independent journalists. Now more than ever, people have time on their hands to research online and read the news.
So what does this all mean? It means that as a business owner, you need to start thinking outside of the box on how you can do things a little differently and what you can provide your customers. Then write and send a press release to the media (local or national) about what you are doing. Keeping the media, your customers, and your audience up to date on your goings-on is essential. Don’t let them think the lights have gone out or they may forget about you and go to your competition. As we know, many restaurants have closed. A few have taken the initiative to change their game and offer online purchasing of groceries. Perhaps you are a nail salon? How about changing your website to provide the sale of your products and or ‘how to’ videos? NovationWire provides an excellent vehicle to announce this while increasing your visibility online and within search results.
Thinking outside the box on what you can offer your customers that is slightly different from what you were providing before, while still keeping to your primary business will be paramount. Once you have these ideas, you will need to announce them and make them heard through a press release.
Think about your local car mechanic. If money is tight because of layoffs, people will educate themselves on how to change their automotive oil as they now have the time. Can you provide some type of unique experience? Memories are something that people will remember forever.
As a news distribution service, NovationWire has started to see first hand how companies have been adapting and making these announcements.
is a marketing firm that offers customized online press release distribution solutions. These online PR distribution solutions are for PR firms, agencies, organizations & Corporates. It includes e-mail delivery directly to Editors who are targeted to media editors at newspapers, magazines, and broadcast outlets like TV and news/talk radio stations. They also cooperate with significant wire services like ACN Newswire, JCN Newswire, Dow Jones Factiva, Reuters Eikon, Bloomberg Terminal, Yahoo news etc. NovationWire also provides a package to target different regions of the world and too different languages. These regions include & many other countries. The Press releases could also be translated to English, Korean, Japanese, Chinese, Vietnamese, Thai, Malay, Indonesian, French, Portuguese & Spanish.