How European Entrepreneurs Can Make the Most of the Quarantine Period

Although the enforced lockdowns seen across the globe have ravaged many traditional businesses and forced airlines, restaurants, and most retail businesses to shutter, other organizations have embraced the change and began fundamentally rethinking the way they do business. The recent coronavirus pandemic has forced companies to embrace online communication and step up their internet presence, while employees around the world now need to learn new skills to successfully manage their workload from home.

E-commerce is booming.

As one might expect, the online goods and services industry has spiked dramatically in recent weeks, as an increasing number of retailers begin offering their products online, while the number of online orders has also skyrocketed.

Overall, the pandemic has caused a dramatic uptick in the online activity of all sorts, leading to a significant increase in online sales in many niches, interaction with online brands, and search activity — much of which is a direct result of a shift to remote working seen by most major businesses.

Instead, businesses should seize the opportunity and cautiously make their first steps online, leveraging the dozens of tools, platforms, and services available that help do so, rather than attempting to build their platform from scratch and suffer the opportunity cost that the delay could create.

Keep an eye on affiliate marketing.

Those already operating an affiliate marketing strategy will likely have already seen a strong improvement in both conversion rate and gross revenue as the work from home movement gains momentum. However, due to budget cutbacks and other restraints, several niches and verticals may have seen a significant drop in organic traffic and CPC, which can lead to reduced revenue.

Using platforms that cut out the complexity of bureaucratic necessity such as invoicing, taxation and affiliate marketing, and leaving the hard part to the experts, enables retailers and businesses of all sizes to quickly ramp up their online marketing efforts and benefit from the changing online landscape. This is particularly important for food, healthcare, media, entertainment, and pharmaceutical companies since these sectors are likely to explode in traffic and conversions in the coming weeks and months.

An excellent time for e-learning.

Although it is possible to succeed in the rapidly changing world of e-commerce by sticking to tried-and-tested marketing formulas, this isn’t always possible, since some niches undergo dramatic changes in search trends and buyer demographics on a regular basis. Because of this, it’s sometimes a good idea to kick the old ways of doing things to the curb and switch up the marketing strategy with fresh ideas.

For employers with employees still on the payroll while under lockdown or working from home, e-learning courses could represent a cheap and effective way to bolster the skills of the workforce, making remote working more productive and easing the transition to an online business where necessary.

This, in combination with careful marketing and a practical approach to a bad situation, can help companies weather the next few months and emerge stronger than before, having penetrated new markets and grown in resilience.

by Entrepreneur

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