December 8, 2023


Simple Business From Your Home

How to avoid bankruptcy during the crisis

3 min read

Many entrepreneurs are currently trying to save their business. It is a big challenge for some companies, especially for shops and stores. With the lockdown, they were forced to close their doors, with no plans. A lot of business people are afraid of their future and bankruptcy. How can companies survive and get through the current situation?

During this, but also past crises, entrepreneurs’  spending on marketing, including advertising, has fallen sharply. It’s understandable, because it is difficult to predict future developments, and therefore for them, it’s time for saving money. However, advertising is still one of the most effective tools for building a brand and stimulating the sale of products or services.

The necessity of the website/e-shop

The largest, if not the entire turnover of compulsorily closed companies comes from e-shops at the time of isolation. Many people remain cautious and continue to prefer online shopping instead of offline shopping. For these reasons, companies that haven’t been selling online reacted quickly and opened their own online store.

Internet advertisement

One thing is to create an e-shop, the other thing is to make the eshop visible in the online environment. When people spend more time on the Internet during quarantine, Internet advertising is a great way to keep an eye on customers, even in difficult times.

Online vs. offline shops

As in the offline store, when selling over the Internet, the amount of sales depends on the need for a specific product or service. At the beginning of the crisis, the desire for disinfectants rose rapidly. Through the amount of free time, some of them looked for online games, movies and music. Loungewear and home dresses were sold in a minute as well. Read more on to get more information about how customers are satisfied with the products and services they get. While disinfectants were sold almost immediately in all e-shops, people searched all the necessary products from sites that were at the top of the Google Search Engine. Search engine optimization (SEO) pays off in normal as well as in times of crisis. And while entrepreneurs prefer online advertising with a quickly and clearly measurable result (PPC, etc.) during the crisis, it is very important to think about the future. See shopping store reviews and read what is currently the best selling product or service, try to implement it to your business to avoid bankruptcy.

If your uncertainty scares you and you are afraid of the future for your business, do not wait for better times. It is time to get up again and take it all in action. In a crisis, it is possible to get more for less money. Why? Precisely because many entrepreneurs restrict advertising, and internet advertising becomes much cheaper. Whether you sell clothes, bricks, gifts or offer services, all entrepreneurs can use the crisis to create, rebuild and modernize a website, as well as build awareness and good relationships with their current and potential customers. Keep in mind that competition is big, you need to come up with something new, something special, something people will find useful and will ease their life.

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