Use Technology For A Successful Business During COVID-19
Impact of the Coronavirus (COVID-19) pandemic on technology
The COVID-19 crisis has made things difficult for everyone. To relearn unconventional, almost alien behaviours has been emotionally and financially taxing.
The impact of the coronavirus pandemic has been such that it has led to uncertainty that calls for damage control. COVID-19 has also had an impact on technology, which can help your business succeed during challenging times. It is the ultimate solution to the COVID-19 crisis.
The very fact that you’re reading this from the comfort of your homes is testament to technology helping people stay connected, despite global adversity. However, it has always existed, albeit in less developed forms earlier. How has our outlook changed now, then?
We are now, in a way, almost fully dependent on all means that help drive our sales up; technology being a vital one amongst them because of its efficiency. In other words, COVID-19 has also had an impact on technology, except, it’s a good one!
For every business, it is important to define 3 objectives:
- 1. Is your businesses being impacted, and how?
- 2. What are the likely prospects for your business once the COVID-19 crisis ends?
- 3. How can you use technology to drive your sales?
Good businesses prioritize safety, securing supply, sourcing correct inventory and securing trust of consumers. Without these 4 milestones, any technological advancement to drive your business towards success is next to futile. The final aim should be to garner consumer support and trust.
The COVID-19 impact on technology is a blessing in disguise. It can help us achieve these ideals.
Keep reading to know how you can use this impact of the coronavirus pandemic to your advantage.
5 Most Affected Industries
1. One of the biggest impacts of the coronavirus pandemic has been on travel & tourism. With an otherwise all-time global GDP of 9.25 tr USD, the industry is now dying. Lodging, transport, attractions and travel companies are an inherent part of it. International travel might reduce to as low as 25%.
2. Delivered food may be convenient to those who do not mind ordering their meals, but not for the hospitality industry to thrive on. Financial issues such as less seating and less customers due to distancing between tables in limited space, additional costs of gloves/ masks for staff, rental agreements etc, cannot be overlooked.
3. Labour availability appears as one of the biggest problems in agriculture. Amidst regular challenges, lack of access to recently shut-down markets & transportation of raw goods is a major issue. Increase in daily wages for harvesting these crops to recover cost does not prove fruitful for market buyers, sending many into loss. Similarly, laborers forced to return home from urban areas are rendered jobless.
4. Earlier, teachers using technology to aid regular teaching was a modern concept that when applied would facilitate learning, which, today, is the norm. It is thus essential to increase efficacy and provide learning platforms to students at no cost of their time/ gap in education.
5. Stepping out to visit malls/ cinema halls given large footfall, is frightening for anybody. Ecommerce’s selling point during this pandemic has been the safety that it offers. Once people become confident of their safety, they will return to shopping in malls. However, expendable income will be limited since only trustworthy brands will be visited.
Technology- a Solution?
Every challenge is basically an opportunity in disguise. The COVID-19 impact on technology is to our advantage.
The biggest anxiety of the COVID-19 crisis has been travel and unsanitary human contact. Easy tech solutions can eliminate most worries of businesses. Travel companies can look to provide recovery packages, health screening, contact testing and on-demand medical aid to tourists through apps/websites. Travellers can use these technologies (best travel apps, healthy lifestyle apps) to manually customize prerequisites for safe travel experiences.
To avoid contamination via home kits, video tutorials by restaurants can directly reach consumers. Similarly, paid masterclasses for their meal recipes can push them closer towards maintaining business as well as establishing personal connection with potential customers post-COVID.
Agriculture can thrive with use of slightly expensive alternatives to labour such as automated irrigation systems/ advanced weather tracking. Similarly, apps can be used for inventory management and market contacts.
E-books, games, simulations, etc. can be used by educational institutions to make learning more engaging and less stressful. They can create online collaboration spaces/ customized platforms (websites/ school apps for students) for the longer run. Video conferencing, feedback/question forms can replace traditional classrooms.
Shopping brands must use this time to establish credibility via technology: digitally marketing products, innovative ads, maintaining customer relationships, etc. Online movie releases via streaming platforms can be explored and monetized to keep business running. Viewing practices can be tapped & documented to better understand consumer viewing behaviour. All this data can be applied once the pandemic ends to enhance consumer experience and recover costs.
Aside from these industry- specific solutions, technology can be universal to all businesses in aiding their income. The impact of the coronavirus pandemic can be minimized, if not avoided. A boom in remote working has been advantageous for online video conferencing, social media, gaming, freelancers, productivity apps, etc. Technology at office/ home has growing demand.
Considering the COVID-19 impact on technology, digital (on-demand app solutions) is the way to be. Providing customized digital services is a wise option. Upskilling to adapt to growing demand means making good use of this time. Discipline, new habits & routines are not only ways to keep one occupied, but also, to feel composed during uncertainty. Apps for habit tracking & meditation, technological resources for office work, online consultations with doctors/ therapists/ teachers etc. are cheaper, more convenient and safer, and therefore, a total win.
This time can be used to reskill employees and business practices to thrive in a competitive post-COVID world and meet the sudden rising demand to recover costs. At the end of the day, what determines a company’s success most is winning consumer confidence and retaining it.
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