Episode 07: How To Pivot Your Small Business and Thrive Online During Coronavirus
Today, we’re tapping into our favourite moment from Friends so we can all learn to PIVOTTTT! PIVOTTTT.
With the hard-hitting effects of coronavirus, it’s a tough time for entrepreneurs and small businesses right now, so we’re diving into all the ways you can pivot your business to digital, because your business deserves to make it.
How your business responds to this crisis will play a huge part in its future, and we want to help, so we talked to digital guru, business consultant and productivity strategist, Alyssa Coleman. She’s the founder of The Productive Entrepreneur, a strategic coaching program, she hosts events for companies like Lululemon, and she runs epic career-coaching retreats around the world. Listen to the episode or scroll down to see all of the tips, tricks and strategies that Alyssa shared with us to help keep your small business going.
We were SO inspired by our chat with Alyssa and have already started seeing results from her advice. She has tons more strategies that helped us, and you can access all those processes, templates, workbooks, video training and tools in
her signature program Your Most Profitable Quarter Yet.
BONUS: She’s giving Teach Me How To Adult listeners a special discount of $250.00 off the program when you sign up with THIS LINK and use the code “FRIENDPRICE”!
Things may look a lot different for you for the next while, but that doesn’t mean you need to give up on our business altogether. Whether you’re a big company like Dyson, which is producing ventilators to help fight Covid-19, or a local distillery that’s now exclusively making hand sanitizer (shoutout to Mill St. Brewery), there are lots of ways to pivot and make an impact.
And if you’re just trying to stay afloat and make ends meet right now, the best place to start is online. Spend this time rethinking your products or services to meet current demands, and consider how you can help out and get active in your online community:
Offer encouragement and support to your audience
Give them a behind the scenes look at your brand on social
Remind them that you’re still in business and that you still have services, products or content to offer
Experiment! Get super active on social media and forge new connections. Find your people and let them know how they can help you
Figure out what your customers need right now, and help solve their current problems
Lots of gyms and fitness studios are offering free classes Live on social now. In Toronto, Tribe Fitness is running some of their most popular classes on Instagram Live and offering their full class schedule at a discounted rate via Zoom. All Day Fit launched an online hub with daily workouts that focus on body weight and minimal equipment...just in case we decide to move from the couch. Here’s our favourite gear to use for at home workouts.
Nail salons like Naked Beauty Bar, Olive & June, and Her Majesty’s Pleasure are offering new retail products like at-home nail kits to ensure their customers are still taken care of. (The nail situation is getting dire, people!)
Local restaurants are donating food to the front lines and moving to delivery options at lightning speed. In Toronto, Miss Thing’s developed an online delivery strategy so they could cut out the middleman and keep 100% of their sales revenue, and they’re helping other restaurants develop sites that allow contactless delivery.
Just remember that incredible innovation has still happened during global crises. Uber and AirBnB were invented in the 2008 recession. Shakespeare wrote some of his most famous plays during a plague, Newton discovered gravity and invented calculus while quarantined… although we could’ve lived without calculus.
So, don’t give up! Here’s Alyssa’s advice on pivoting to digital:
Is now a good time to get planning and innovating in your small business?
According to Alyssa, now is the best time to ramp up and rethink your digital strategy. “People are being forced to get creative and become really resourceful with their businesses. They’re using this time as a magnifying glass to say: ‘Hey, I really rely on one specific income stream, and I'm going to use this time to diversify’.”
This quarantine is also a call-to-action of sorts for people who have side hustles or who have been putting their dreams on the back burner. “A lot of us are using this time to really focus on our businesses, on the things that we can control as a way to get through this. Sometimes you need to put your head down and focus on the things that you can control and be optimistic about in order to move forward,” says Alyssa.
Four non-negotiables entrepreneurs should be doing daily
To succeed as a small business in the digital world right now, Alyssa recommends following her “Big Four”—four non-negotiable steps that brands should focus on every single day to increase their sales and customers:
Business mindset: Now more than ever, it's super important to invest in your business mindset. “Entrepreneurship is a mental game,” Alyssa says, “and you need to make sure that you are not becoming the thing that's holding your business back.”
Growth: Look at your audience, and potential audience, and figure out how you can grow by at least one person on your email list or social channels everyday.
Nourish: How can I help people? Every single day, you need to show up and provide value to your audience, regardless of whether or not they’re going to buy something from you.
Make an offer: If you number three really well, then this should never come off as a hard sell. “I love that a lot of businesses are really showing up and offering things for free right now,” says Alyssa, “But we should all be putting out free value everyday, whether you’re showing up on social and answering questions or providing free training videos or podcasts.” Then, you never need to feel uncomfortable for promoting your product or service.
How to make the pivot to digital as a brick-and-mortar business
It’s a really overwhelming time for brick-and-mortar businesses, but it’s also an opportunity, says Alyssa. “You’re going to need to get creative, and most entrepreneurs are very creative and resourceful, so you already have those tools in your tool belt. You need to look strategically at what [you] can provide to [your] current audience, rather than trying to start from scratch and grow a whole new audience. Most of these people already do have potential customers, past customers, online followers.
I think it's really important to ask yourself: ‘How can I show up for them right now in a way that's going to provide value, and then how can I offer something more that's going to make their life easier or better that I can charge for?”
Take a hair salon, for example. Owners could start by putting out some free, value-added content like videos or articles on how to treat, cut or style your hair at home while keeping it healthy. Then, they could buy in bulk and start delivering at-home hair masks, colour correctors and dry shampoo (so we can all look fresh on our Zoom meetings!).
How to make digital sales if you’re a service-based business
Alyssa says that the biggest shift to digital happens when you start selling digital products and resources. Let's say you're a hair colourist, you can start selling digital products and in-depth courses for other hair colourists to master their pro techniques while they’re stuck at home. That’s where the big money happens.
“Create a course and sell that to other people who follow you. Ask yourself, ‘Where are my skills?’ and then find the middle of the Venn Diagram between [your] skills and [the] problems you can solve,” says Alyssa.
If you don’t already, start offering and promoting gift cards for your services that devoted customers can buy for future use. “You could offer a discount where, if you book now or purchase a gift card now, you get a free treatment or an offer that’s fairly low cost to you, but is a value-add to people who might not want to invest in something they’re [maybe not even going to get] in the next six months,” Alyssa suggests.
How can companies shift their messaging to sell in a sensitive, appropriate way?
“The best part about being a business owner in the digital age is that you don't have to force anyone to buy anything that they're not financially able to buy”, says Alyssa. As long as you aren’t trying to scam your customers, and you’re being ethical, there’s nothing wrong with continuing to sell your products and services. Not to mention, the Canadian economy is relying on digital businesses right now to keep commerce going while we all social distance! (No pressure.)
“I really want to encourage, women specifically, to not put their businesses on the back burner because they're worried it's going to offend someone,” says Alyssa. “As long as you're using your common sense, your intuition and you’re being sensitive, then I think absolutely you should continue making offers to people. Because if you can solve someone's problem then it's almost a disservice to them for you to not show up right now.”
How to capitalize on that captive audience and engage your online community
Now is the time to build brand awareness and invest in online advertising. “Ad costs are quite low right now because of the current supply and demand since more people are online and they're really engaged, so ad costs are going down,” Alyssa explains.
Whether you’re starting a social media challenge, hosting a panel or webinar, or going live on Instagram and Facebook, “those things are really designed to create a trusting relationship between you and your ideal client and for them to understand your philosophy on their problems,” says Alyssa. “The whole purpose of selling a digital course is to solve a problem, so your dream client needs to understand what your philosophy is. If they don't understand that, they’re so much less likely to buy, so this gives you a great opportunity to make it super clear.”
Part of forming that trust is giving your audience a behind the scenes look at you and your company. Going live on social platforms allows you to share more personally, and to tell your audience what your products and services are all about. “It's such an incredible way for people to feel like they're hanging out with you right there in your house”, says Alyssa.
Alyssa says going live allows you to “nourish” your audience with free content before you “Create an offer” (two of those four steps in her “Big Four”). Alyssa recommends doing this towards the end of your video so that you start off with the value-add content before getting to your main offer...which you should never feel any shame for promoting!
Is now a good time to start an email list?
Yes! Email marketing lets you show up in people’s inboxes in a consistent way that you just can’t guarantee on social media, with the ever-changing algorithms.
“With email marketing, you have a lot more control. People are—don't quote me on this—70 percent more likely to make purchases from their inbox than they are from social. Literally some of the smartest people in Silicon Valley are being paid a lot of money to keep you scrolling (or tapping to the next story) and they have put a lot of money into you not leaving their app. So a lot of people aren't leaving their app to make purchases. It's great to be able to get into someone's Inbox and have a relationship with them when you send something valuable to their [email].”
Create something super simple, like a checklist, a video, or just offer a coupon or discount for a future appointment. Then, offer it to people in exchange for their email so you can grow your e-newsletter audience. There are lots of simple tools you can use to start: MailChimp is a go-to free service for beginners, and Alyssa’s favourite tool is Convertkit, which is specifically built for businesses and content creators that want to email out regular content.
Don’t know what content or services to put out there? Ask!
“A great way to find out what people need right now, is to just ask them! Especially on social. I always recommend putting up polls [asking]: would you rather learn more about this, or this? Are you more interested in getting it through social or stories or through emails? You'll be surprised at how many people are willing to answer and how valuable that information is for you,” says Alyssa.
“But will online audiences even make me money?” Here’s why increasing your brand awareness online is key
“People need to hear about you many, many times [before making a sale]. Some people say 7 to 14 times, I’ve now heard that it's more like 14 to 21 times [before they consider buying anything],” Alyssa explains. “Sometimes you have to be following someone for years and years before you're ready to take the plunge, so the more you can create that relationship with someone, the easier your sale will be later on.”
Ultimately, you should always be investing into your community, regardless of whether or not they're going to buy right now, so you can add value, create long-term loyalty and reap the benefits down the road.
We hope that this episode inspires you to make some moves with your business! If you liked this episode it would mean the world to us if you would rate the podcast and share it with your friends!
If you have a topic you’d like us to cover or a guest you want us to interview, comment or DM us on Instagram:
See you next week! xo
Connect with Alyssa Coleman here:
