There was never a more uncertain time for businesses than during the Covid-19 pandemic, but although things appeared dire then, there were many lessons to be learned. Those who survived have come out the other end stronger and more resilient to shocks and future uncertainties.
Improved Growth Strategies
The pandemic is now in the past, and the economy has stabilized; this has given consumers more confidence to spend and businesses more room to develop improved growth strategies along with future-proofing measures. In some ways, both strategies accomplish the same goal.
Creating more stability in the business and improving growth helps companies to become stronger and more resistant to unexpected shocks. Additionally, growth intention leads to more confidence in the workforce and appeals to buyers who are more likely to invest in the business.
Better Marketing Strategies
As mentioned, the best way to bounce back from economic setbacks is to grow the business, which also makes it more resilient to future shocks, but how can you grow your business in the short term when the economy is still vulnerable and recovering? The answer? Better marketing strategies.
In recent years Instagram and Facebook have been the main players in social media marketing, but now TikiTok is emerging as a frontrunner. That said, it’s still early days for the platform that is thought to be social media for teenagers. But, diversifying platforms is an effective future-proofing measure.
IT Support Services
Naturally, one of the first things businesses need to address when disaster proofing is their IT infrastructure. Unless a business has a reliable network, security services, and IT support services, there is always a chance of incurring losses through inefficiencies and network failures.
Nowadays, the best way to secure a business’s IT infrastructure is to outsource it to a managed service provider such as Kenny Natiss; this way, businesses don’t have to worry about network failures or security and can concentrate more of their efforts on marketing efforts and growth.
Hybrid Business Models
The Covid pandemic forced businesses to switch to hybrid models of service; this involved embracing new platforms and digital workstations at short notice, a process that accelerated the rollout of hybrid environments by around five years. But now, it’s a common and workable model.
Any business interested in protecting itself against uncertainty needs to consider hybrid environments for its workforce; while they do pose a slight increase in security risks, it is not insurmountable, and hybrid environments allow businesses to switch quickly during disasters.
More Digital Solutions
Naturally, the digital world boomed during the pandemic since consumers had little choice other than to shop online for goods and services, but, according to statistics from 2019 that over 14% of retail purchases were digital, it’s clear that markets were moving in a digital direction anyway.
Digital transformations not only make businesses more streamlined and profitable but also makes them more resilient to future uncertainties. Investing in digital processes and offering digital products and services also improves your valuation and makes you more investable.