—Recovery
Budget Allocation
In the wake of a global health crisis, businesses need now, more than ever, to ensure they survive. Mitigating risks and taking the necessary precautions are essential in keeping not only ahead of the crowd, but to stay there. As environments change, or customer attitudes differ significantly to what it once was, understanding how to fully maximise on digital marketing tactics and a well-thought out, expert-led strategy is the way to go. Here, we will discuss five key steps to enhancing your business and keep an upper hand.
Audio 9.41 Minutes
Identify options
In recent times, processes that were once sufficient are no longer the case. One key adaptation in business strategy during a pandemic is to quickly and effectively evaluate the available options when making a business decision.
Stability
Another key factor in a business surviving during different times is ensuring the stability of the company. An example could be assessing the financial state at one point in time. During such an unpredictable time, companies may be faced with decisions which require different parameters compared to the week before. Stability is therefore the main goal.
180 degrees turnaround
Once assessment of the parameters, a key step of a company’s recovery plan is to formulate a turnaround strategy, one that encompasses financial returns. One may find this to be challenging, as to understand how to formulate a business recovery plan can be tricky for many.
Effective execution
Planning is important but delivering a recovery plan in unprecedented times are not only essential but also logical.
Value assessment
Mitigating risks by conducting effective risk assessments and calculating the cost benefit of different elements of your company are also important.
Our team
As businesses try to navigate in an unpredictable market, with the presence of a pandemic, it poses real threat to the livelihood of any industry. The only way to recover/survive is to know your resources, and what is available. As trends change due to isolation, digitisation and globalisation, the world is changing – and fast.
Our team, like industries and the world itself, is ever-changing. Our strategies to stay adaptable amidst unearthed territory can only testify our strengths as a marketing consultancy business. Now, more than ever before, companies need to become agile and adapt to a digital world. Who is better to help this navigation than experts in digital marketing themselves? With Growthlytics, we are here to help you get through this.
Services
— Services
What we offer at Growthlytics
Here is a brief overview of what our company can offer you, in either formulating from scratch or elevating an existing business recovery plan:
- Consultation
- Tailoring a Business Strategy
- Human Safety
- Communication
- Legislation and Policy
- Resilience
- Project Support
Consultation
Firstly, the initial steps our company will take is getting to know you, before anything else. We aim to understand your business, what the issues are, where you want to be, and what your preferences are. As part of our company’s values, collaboration is key. Our team can only help as much or as little as you would like, so discussion can take place at length, or be casual.
Tailoring a business strategy during a pandemic
With the health crisis affecting supply chains globally, its very crucial companies have shorter term liquidation options. It’s very important to be creative, and to search for more effective pathways in managing the work cycle. What is also essential, is stakeholder management. Suppliers, customers and partners all need to be taken care of. One crucial risk may be a shift in attitudes or behaviours. In order to feel out the next step, one must ensure they have professionals on their side, armed with the right knowledge and tools to efficiently evaluate the situation. Re-negotiating may be important, for example.
As mentioned above, only the most agile companies rise to the top. Here at Growthlytics, we ensure that all these aspects of moulding a recovery plan to a global pandemic will be taken care of. Our team comprises of experts with up to decades of experience in the field – don’t worry – we have it covered.
Human Safety and Engagement are a priority.
The top priority during this entire process would be the safety and wellbeing of all the employees, staff and customers. During hard times, employees will especially look toward their leaders for guidance. When handling these types of situations, being transparent, open and well-prepared is a must. A great example is more flexible working for those who prefer to work from home.
As a company who has embraced flexible working from the get-go, we have first-hand experience in ensuring your employees maintain high engagement. With employees who work from home from time to time, or even our distributed team in Asia, we keep our promises to cultivate and maintain employee engagement, while following safety procedures. What does this mean for your company? This may indicate a complete change in company policy, or a slight tweak. Whatever it may be, down to your company’s current practices, we will adjust accordingly. It is therefore of precedence to always have health and safety at the forefront of our minds.
Communication is Key
As discussed above, re-negotiating is a possibility when faced with an unpredictable situation. One form of communication that has made exponential progress in the past decade is through social-media. During a time like this, it’s almost a blessing having an established communication channel through online platforms to keep your customers engaged, informed and happy. It may be that your business is prohibited from functioning at all, or there are certain restrictions that have been put in place in the meantime. Whatever that may be, it’s important to communicate any updates in a fast and meaningful manner.
One of our specialities is working with online platforms, so this is our strong suit! Maintaining constant contact with all your stakeholders is important. Having easy clickable links or an automatic mailing list could help speed things up. However, not everyone is knowledgeable on these types of subject matters. This is why hiring an agency like us, who knows that the best is only the solution. This is especially the case when success rate, at the moment, is closely tied with quick and efficient decisions.
Legislation and Policy
Another main key factor is following the law, keeping in mind the ever-changing policy and recommendations from our government. This is so important when conducting a business recovery plan, as having an ‘ear to the ground’ would ensure the validity of such implementations. Knowing what’s around you would also mitigate any risks and encourage flexibility in formulating a recovery plan. Another key advantage in understanding new policies is maximising the use of them. In China, local governments have offered financial supporting funds for companies of various sizes. One example is the China Securities Regulatory Commission (CSRC) interim policy. The UK has followed suit with a Coronavirus Job Retention Scheme, Business rates relief and a range of Business support grant funds.
Developing business resilience
When strategies have been formulated and execution stages commence, monitoring the success and evaluating risks need to be not only constant, but also continuous. For example, when policy allows all businesses to run ‘as usual’, plans should be re-evaluated. If such, there is another lockdown put in place, this may also require another re-evaluation.
Another aspect to business resilience is being well-prepared. If such changes occur, the right methods and attitude can really alter the success of a company. For instance, a company should figure out all its options and research current trends or policies in order to try and cover all grounds. In hard times, there should also be a plan put in place for the most crucial situations. This will aid to the resilience of your business.
Project Support
It is clear that during times like these, outsourcing to an agency can really help carry your business forward and upwards. Here at Growthlytics, however, we take it one step further. Our team does not help supply the finished product, we want to support you and your business throughout the entire project lifecycle. We understand it is essential to not only evaluate outcomes and measure success at the end, but to conduct this throughout. Our expert know-how in project management is another strength we hold as an agency. Any changes in the industry, customer behaviour, your company’s financial situation, we have the stamina to adapt to any change.
Contact us!
Is your currently struggling to succeed amidst the pandemic? We are here to help! Growthlytics provides the full 360 of digital marketing to help with any of your digital needs and get you kick started. Email us on hello@growthlytics.net or call us on … book a free consultation.
— Portfolio
Our Latest Work
Project 1
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Project 2
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Project 3
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— Clients
leading companies we have worked with
“Growthlytics strength is in his knowledge and processes of digital tasks – there’s not a question you can ask them that they doesn’t know the answer to. Focused and driven by passion for the industry, they truly are Subject Matter Experts, from whom I’ve learned a lot. First, they gains depth of insight from business owners to determine “What does success look like for you?”, then they create a strategy that best supports the business goals bespoke to that business, to help accelerate growth.
They been in the industry for many years, and covered a wide variety of industries”
Matthew Fowell
MNA Digital (Midland News Association)
Articles
— News
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