Coronavirus and online sales: take care of the health of your business

The purpose of this article is help all Mexican brands that sell online to go through this moment of uncertainty and global crisis.

At this time there was much talk about the different health measures to adopt to prevent the spread of the Coronavirus Which is definitely a priority. But this time we want to share tips so that your brand maintain sales levels in the coming months.

We believe that the greatest challenge has been the cash flow —especially for SMEs—and consumption is going to continue to change constantly, because People will buy less of some products and more of others.

Given this situation, you need to propose an action plan that focuses on health of your business.

To achieve that goal, our first suggestion is that you make a diagnosis of your financial situation: calculates the charges for the next 30, 60 and 90 days and then discounts the invoices to be paid in that same period. This will give you a clearer idea of how many days you have to plan actions.

The formula would be like this:

Collections for the next 30, 60 and 90 days – Invoices to be paid in the next 30, 60 and 90 days = Action planning possibilities

At Tiendanube we are and will continue to be focused on ensuring the greatest success of your business. That’s why we give you , so you can focus entirely on your sales.

Also, youe share the following strategies that we gathered based on our experience and also from conversations with various brands that have overcome different economic crises.

We are sure that these strategies will help you sustain your business in these complex times.

Adapt your shipping strategy to the current situation due to Coronavirus

Keep in mind that logistics operators are working with some limitations and taking the necessary health measures. For this reason, we advise you to check which logistics service you can use at this time.

Until this whole situation is completely normalized, we recommend:

Build trust. If you cannot send your orders, a good strategy for your potential customers to buy from you is to tell them that bliss purchase will be shipped as soon as possible and that, until then, you can cancel it free of charge. This strategy can increase trust in your consumers and help them define themselves faster by your products.
of your online store to clarify the information regarding shipping delaysmainly in emails related to payment and purchase tracking. This will help you better manage the expectations of your consumers. For that, we share an article about .
Take certain precautions when dispatching your sales.Respecting the law and taking the necessary health precautions is key to prevent the spread of the Coronavirus. For this reason, we suggest you pay special attention to the . This step is essential to take care of your health and that of your client, so encourage them to also disinfect their purchase after receiving it.

On the other hand, keep in mind that logistics companies are likely to have a high demand for shipments, especially at this time of year, and may not be able to deliver orders on time.

So that your business does not suffer this impact, we recommend diversify your current shipping optionsthus reducing the risk of having a shipping solution that is more saturated than the rest. In Tiendanube we offer several alternatives so that you can integrate the one you prefer with your store, learn about them in our article .

Create an exclusive online shopping campaign

It is a reality that buying online is still safer than going to a physical store, since it is an activity that minimize physical contact. That is why it is important that you yourself, from your place, encourage this behavior in your consumers. For that:

Creates social media marketing campaigns with key hashtags and offer attractive promotions.
Form alliances with other brands and offers product combos irresistible. These actions are usually very successful on social networks like Instagram.
A good option is to offer your potential buyers a exclusive promotion for online purchase, for example a discount coupon. This is how Tiendanube does it:

do you dare to bet on the gift cards? For the holidays or if your potential client has a friend or relative who has a birthday during these quarantine days, gift cards can be a great option to be present, despite the distance! Some cloud stores are already offering to send these cards by mail, with the credit or the product that the customer defines, plus a congratulatory message.

Generate cash with stock

If today you have a very high level of stock, encourage your sales with a special promotion (in case your sales have been affected by the current situation): the important thing at this point is have money in handliquidity, since this will allow you to maintain your cost structure.

At Tiendanube we know that one of the promotions that works very well is the along with some other benefit (like months without interest, for example).

Another possibility is to offer discounts on the purchase of complementary items (such as pants and belts) or actions of the style “Take 3, pay 2“.

Know all the .

At times like these, creativity and flexibility can help your business sustain.

Keep the stock level as low as possible

try to work with negative working capital (sell before buying) if you consider that you will be able to deliver the products to your client within the stipulated period. In general, stores work with a monthly inventory, but you can reduce it to 15 days if necessary.

Before making any decision, talk to your suppliers first and confirm the delivery time of the products. Also, diversify these providers so as not to run the risk of losing sales due to the lack of products since, during this period, the probability of delays is greater.

In other words, the timing chain may be impacted and you may need to make adjustments from day to day, but the point here is try to work with the lowest level of stock possible and with those products that have more output.

Understand changes in consumption and diversify your product offering

The crisis brought about by the Coronavirus has very specific aspects that will determine changes in consumption, mainly around isolation measures.

From now on, in recent times we have seen four consumption trends that will continue to increase:

family entertainment: all together, at home, unable to go out. How can you help your client entertain with the family?
anti-loneliness: many people live alone and they also need to have fun! (or at least be distracted).
Work at home: Most companies have started to implement a remote work policy, at least for a relevant part of their employees. However, not all houses are prepared to function as an office 100% of the time. How can you help your customers equip their homes and be more productive?
Essential elements: In addition to the basics (such as food, medicine and alcohol gel), each person has their own definition of what is “essential”. Gym clothes? Cooking pot? Dog food?

Diversifying your offer is something you should do constantly, but in a likely scenario of falling sales, it is important to understand what type of product you can offer to your target audience depending on the business you have.

Finally, it is possible that once the isolation measures end, the changes in consumption will continue, and this will have to do with an eventual economic recession in the country and in the world. Some products maybe lose relevance temporarily, so Diversifying can help the health of your store.

It is vitally important that you stay updated on the latest developments that could have an effect on your business, both locally and nationally, as well as in the niche of your business. Consult newspapers frequently and in the industry to which your business belongs and take their recommendations into account when making decisions.

Learn more…

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Invest in the most efficient marketing channels

Marketing does not have to stop, on the contrary, there are already businesses that, as they expect a drop in sales in their physical store or show roomthey are increasing the digital marketing budget for their online store.

Reinvent the experience of your physical store

Many face-to-face initiatives, such as events, are not viable today since crowds must be avoided, but you can take advantage of all the online tools to try to replicate a more human and personal experience with your clients and potential clients.

Even more so in these times where everyone, in quarantine, has a greater need to socialize. The live broadcasts (also known as live) on social media (Instagram, Facebook, and/or YouTube) are key to connecting and getting closer to them.

Through the live you may:

Tell the news of your brand (promotions, discount coupons, etc.).
Interact with your followers through questions and answers (which they can send through the comments).
Interview professionals in your niche remotely (using the option Invite another user to the live streamin the case of Instagram).

Take advantage of all the options of these tools to sell more and more online!

Learn more…

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Work remotely as much as possible

Related to the previous point, do not forget to promote the safety of your collaborators. Ask them to work from home and, if this is not possible, invest in private transport such as Uber or Cabify, create work scales so that there are fewer people working at the same time and reconsider the days and hours of the day.

Also, encourages a proactive remote culture and define the digital tools so that your team can communicate easily and…