The worldwide turmoil caused by COVID-19 is straining businesses everywhere, with many facing redundancies or collapse. Government schemes are helping to keep many afloat for now, but how can technology help companies weather the storm and emerge in a position of strength at the other side?
Technology is helping businesses get through the pandemic with the likes of video calls, instant messaging and online collaboration tools - but merely getting through the pandemic is wasting the opportunity it presents. Here are three ways technology can help your business emerge stronger after the pandemic.
#1 Check out the competition
With many businesses buckling under the added pressures of remote working, reduced workforce and less cash - there are opportunities to step in and take advantage.
Find your top competitors and read their most recent reviews on websites such as Trustpilot and Glassdoor. Here, you can gain valuable insights into their current strengths and weaknesses. Armed with this information, you can adjust your offering, marketing and messaging to fit in to where they are failing.
After gaining insight on your competitors’ strengths and weaknesses, run them through a backlink tool such as this one. Here, you will be presented with the web pages that are linking to your competitors. With this information, you can take steps to be listed alongside your competitors but with the winning benefit of your COVID-beating offering.
#2 Get a real time overview
Many businesses have been forced to evolve their processes to be remote-friendly. For those that had already adopted cloud-based tools or bespoke software, this has been a seamless transition. However for businesses less fortunate, it’s been a steep learning curve.
If you don’t have a real time overview of what’s going on in your business, it’s impossible to know if you’re being efficient or if your processes are being followed correctly. This risks providing a poor service to your customers as well as pouring money down the drain.
Go beyond your key performance indicators; find or create tools and integrate with whatever you must to get a real time overview on every aspect of your business - the benefits of which will be long lasting way beyond the effects of COVID-19.
#3 Invest in bespoke software
Everybody loves using well designed, easy-to-use apps - whether that be in the browser or from the App Store. However, many businesses opt for using the same off-the-shelf tools that are readily available and used by your competitors too. This approach means that you’re lacking competitive advantage.
To truly stand out and be a leader in your industry, bespoke software is essential. Not only will it make your business more efficient and valuable, but you’ll be delighting your customers in ways that your competitors cannot.
If you’re lucky enough to have funds to invest, creating your own software or transitioning into a software-as-a-service business is probably the smartest move you can make to emerge stronger out of COVID-19.