In the wake of the Coronavirus, we are facing a lot of uncertainty and the realization of a new normal.
This is a challenging time for everyone but it is especially challenging for those of you that are running small businesses. During these challenging times, it is sometimes hard to see the opportunities that will come out on the other side. So we figured we can help point you in the right direction to hopefully grasp some of these opportunities!
Catalog Expansion: It sounds like a bold move during times like these but hear us out! During this pandemic everyone is hurting including your manufacturers and suppliers, now is the perfect time to start having those discussions with your suppliers to see if there are better pricing options or if there is an opportunity for new products to add to your catalog!
Stuck on what new products to add? We would suggest you adjust to the current times and environment, as we are defining a new category of items deemed as “essential” for people that are staying at home more. Use that information to find new products that will be in high demand that will consistently drive sales for you!
Channel Expansion: Obviously you know our team here at TurnKey are big supporters of Amazon but we do not think that anyone should only be selling on Amazon. This life-altering event truly showed how important it is to diversify your sales channels, and avoid being paralyzed when things like FBA or other sales restrictions hit.
With that being said, consider being a part of other sales channels like:
- Your own website
Marketing-with-a-Cause Initiative: Do you have the ability to give back in times like these? A way to push sales while also making a difference during this time is to get involved with charities that are helping during the pandemic. This way you are making a difference and that alone will resonate with your customers for years to come. They will remember how you stepped up!
.Still having trouble seeing the opportunities during this time? Reach out to our team and let’s chat about it! Head to TurnKeyProductManagement.com/Talk to chat with us about some of these opportunities!
Our team is doing our best to keep you up to date with all of these updates coming in, and you can check out the latest updates and strategies by visiting turnkeyproductmanagement.com/corona.