Covid-19 has slowed the entire planet down. The temporary shutting down of companies, people getting fired by the masses and limited ability to commute, in some areas of the world even complete isolation…this pandemic has affected over 82% of the industries in the world. If you are an entrepreneur, we can assume that you are in one way or another suffering the effects of the Covid-19 virus, and if you happen to be the owner of a limo company then we are sure that your business has come to a complete halt.
Those who were in business in 2008/2009 when the global economic crisis hit, are very aware what it’s like to have less and less vehicles reserved and the volume of business going downhill.
In truth, not everything had stopped then and there was still work, but the effects were evident and unfortunately not many businesses managed to survive. We would like to share our experience and if this text saves one business, well then mission accomplished!
How can your business survive during the COVID-19 pandemic?
No one can with certainty say how long the pandemic will last and what effect it will have on the world in its aftermath. One thing however is certain, some things will never be the same again. The battle with the virus will last for a while after which we will step out having beaten it, but the real battle is yet to begin, the recovery from the effects of an almost complete standstill in the world’s economy may last up to a couple of years.
The first thing you should do is accept the situation as it is since you cannot affect it. Think strategically. Prepare to enter into your business ventures when the pandemic is over. For your business to survive an economic crisis it is key you minimalize your overhead and fixed costs.
Not all decisions are going to rank popularly with you and coworkers but they will save your business during a time of crisis, and that is distinctive of top-notch management.
If you conclude that you cannot financially withstand this crisis, and you are paying bills with an income of $0 then it is crucial you change course and make some radical decisions. Through the following three key segments you can make necessary savings and simultaneously safeguard and maybe even better the quality of your service.
#1 Dispatch Centre Take a close look at what all the big companies are doing during this difficult time and try to apply them to your business. Let’s take for example Air Canada, here ( ) you can read that they are planning to cut 60% of their work force in order to minimize their costs. Now everything comes down to minimizing financial loss. If you can keep a team of people without that jeopardizing the further existence of your limo company then by all means do so. On the other hand, if you can’t pay for all your dispatch center costs until the business doesn’t return to its regular course you will have to turn to outsourcing.
As you probably know, they key benefits of outsourcing is the minimizing of fixed costs. The point here being that you pay upon task completion, in this case, the cost of your call operator is based on the amount of minutes he/she spends talking to a potential client, and not a monthly fixed pay.
We here at Fides have created special packages so that all clients can have a smoother recovery from their economic crisis. You no longer have to pay for work that has given no return and to pay for minutes where no bookings have been made. All telephone conversations with your clients are recorded and you can access them at all times, so you can check the quality of the communication and give any suggestions should you choose to do so.
This is a business model that you should consider once the crisis passes. The point is minimizing costs and enhancing productivity. If you wish to learn more about the outsource dispatch center, you can visit this page (ubaciti link)
#2 Better positioning on Google
Forget billboards, advertisements on the radio or television, this definitely generates results but be practical. Choose results that you can measure. The first thing that you have to do is to tend to the needs of your potential clients.
This means that your site needs to be positioned on the first page of google when someone searches for a limo service in your city.
These are hot buyers and you want them to visit your page, because if they land on the page of your competition then you are potentially losing out.
If you want to know more about the positioning of your website on the internet then you need SEO analysis. Our SEO experts have offered to give free SEO analysis during the COVID-19 with a detailed competition comparison. All you have to do is visit fides/seo-optimization.php and fill out the form for analysis.
In just 2-3 days you will get a detailed analysis of your website!
#3 Digital Marketing
Marketing is an investment, not a cost. The reducing of marketing activity in a time of crisis lessens your chances of finding new clients.
And you by all means don’t want this to happen!
This doesn’t mean that you need to invest a lot of money in advertising, but you need to rebalance your budget and focus on advertising channels that can definitely bring you positive results. The point is to be efficient and productive.
Find an agency with whom you can conjure a partnership. There are more and more creative agencies which are ready to take the responsibility upon themselves and work for a percentage of limo reservations booked through the campaign. This is certainly a way of you being sure of the fact that your marketing company will be motivated and give it their all to get the best possible results because it is in everyone’s best interest.
This is a great model of where you are minimizing fixed costs in the marketing sector and paying only for results. At the beginning of this passage we wrote that it is important to pay attention to the advertisement’s channels.
What does this mean, exactly?
Investing in social media pays off by far more than a minute on the radio. Everyone is on social media, especially now in a time of limited commuting. Use this time to create a relationship with your target group. It is important that they remember you!
Aside of social media, a great channel for marketing campaigns are mail listings. B2B campaigns, content marketing, etc. In case you aren’t sure of how to make a strategy or advertising and marketing campaign visit us here at fides.com/digital-marketing and contact us through the form. Give us a description of your business and your goals. Our marketers will give you a mini advertising strategy for free, choosing your target groups and suggesting a budget.
This is the perfect time to find a modern marketing agency that can adjust all marketing activity which leads to sales in this time of crisis.
We have saved the best advice for last…
This crisis has happened for a reason. Maybe it’s finally time to slow down a little and think. It is now that we have time to be introspective and to think about things on a deeper level. Is this rush to enhance business that important and worth all the sacrifice? Do we really have to surveil all business processes of our company and at which price? Is it possible to find a coworker who will take over part of the responsibility and a part of your profit, buying you some freedom and quality time with family friends and for yourself? The world is undergoing a digital transformation, COVID-19 has just sped up a natural process of businesses fusing and creating partnerships. It is our right to either be part of that process or to resist it.
We are looking forward to reading your comments on the blog, stay safe and stay at home!