The COVID-19 pandemic is first and foremost a human tragedy, infecting more than 2,023,647 and killing more than 128,892 people as of April 15, 2020. The loss of human life is really heart-breaking. Almost all the countries suffering from this pandemic have announced lockdown and as a result, the conversations around the economic impact post the pandemic have become ubiquitous.

While international economic bodies and governments are already planning strategic measures to combat the slowdown with modifications to monetary policies, EMIs, rate cuts, waivers, and more, different trade and businesses across the countries are concerned about their business post the lockdown.

Although it is only natural to expect a tough future in terms of business after the COVID-19 lockdown, it is not an impossibly difficult situation to cope over, as many believe. If anything, the lockdown can help business owners to learn valuable business lessons that can help them not only survive but also thrive and be well prepared for challenges that might come our way in the future. So to help, here is a list of some points that every business owners should do for a speedy growth post-COVID-19:

Talk through social media

As one can't talk to their customers person to person, it is time to use the power of social media. Managing social media reputation has now become more important than awareness. Make sure that the customers are aware about the brand. Build relationships with the help of videos, infographics, or by making them aware of COVID-19 and safety measures to be taken. Adjust social messaging and tone accordingly as this situation is very sensitive.

Learn from the history

Coronavirus isn't the only epidemic in history. Businesses have faced many other different crises, as well. Learn from it. Observe what strategies were used by various businesses to cope up in the past.

Keep the Cash Flow Going

Cashflow is the dominant leader, be it any industry. And as they say, the show must go on. Do not sit back to be sad over what has happened. Instead, attract revenue in different forms. For instance, large gatherings could make people uncomfortable due to the fear of the virus; however, spending time in a small closed group could be the new trendy thing at the time of such a crisis and even after that.

Create New Markets

It's time that businesses should observe the market and try to seize the opportunity as soon as they get it. If one wants to find demand markets in a sophisticated way, they can opt for a smart distribution platform that can identify new demand markets and onboard a new distribution partner in less than 20 days such as RateGain (travel technology company) Smart Distribution operates on AI-based Mapping Recommender, which expedites the whole process by eliminating manual efforts by 80%.

During the time of crisis, communication becomes the key. It is, therefore,

important for businesses to be active but only socially. Spread positive messages. It is a tough time for all. Don't lose hope, utilise this time by improving the strategies and studying the market. #BetterTomorrow.