Currently, all eyes are understandably focused upon the global impact of the COVID-19 pandemic. While the future is far from certain, living in the present without taking into account what may exist just beyond the horizon is never wise. Indeed, businesses throughout Nigeria should capitalise upon this lull in order to make wise decisions so that they can increase profit margins when life once again returns to normal (as it eventually will). What can those who currently own brick-and-mortar operations do in order to ensure that they remain one step ahead of the competition once the restrictions begin to life? Let’s take a quick look at the power of the digital age before examining some in-house upgrades which could prove beneficial.
Never a Better Time Than the Present
Regardless of the size of your business, there is no excuse to fail to leverage the scope of the Internet. Organisations can reach countless potential customers if they are able to establish a solid online presence. Some of the ways in which this can be accomplished include:
- Developing a standalone website.
- Creating social media pages.
- Employing the correct SEO techniques.
- Joining forums relevant to your industry.
- Proactively engaging with clients and website visitors.
The good news is that creating a robust digital presence is one of the most cost-effective marketing strategies at your disposal. This is the very same reason why a growing number of Nigerian entrepreneurs are choosing to work from home in order to leverage higher profit margins. However, brick-and-mortar operations can reap these very same benefits if they develop a sound advertising strategy from the beginning.
Long-Term Upgrades for a Higher Return on Investment
It is just as crucial to mention that physical businesses may need to perform in-house maintenance from time to time. The main difference here is that as countless locations will be closed for the near future, they can now enact significant changes without worrying about downtime. Examples include upgrading in-house machinery, installing quality industrial floors or replacing a factory roof that has seen better days. As many firms related to the construction sector are experiencing a downturn at the moment, you may very well be able to enjoy substantially discounted rates.
To be clear, this article is not meant to lessen the impact that the COVID-19 outbreak has already had upon communities from around the world. It is merely intended to highlight the fact that opportunities always exist for business owners who are able to look towards the distant horizon as opposed to focusing solely upon present tribulations.
This is the very same reason why major firms such as BECOSAN and others are currently in high demand; businesses are taking advantage of the current possibilities at their disposal while they still can. Whether the outbreak subsides within a few months or it continues for the remainder of 2020, the world will nonetheless turn. Feel free to refer back to this article for inspiration in the future if necessary.
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