General Strategies on Pivoting

    1. Keep Your Community Engaged And Uplifted. Currently, brands are doing as much as they can to offer virtual courses and communities, some of which include virtual workout classes, cocktail and dance parties, master classes to daily meetups. Some coffee shops are posting tutorials like “how to make cold brew at home”, which can be fun ways to enrich everyone’s day-to-day while encouraging them to stay home and stay safe. 
    1. Reinforce Brand Loyalty. Using zoom, a top global luxury retailer is launching a series of daily classes and workshops to provide knowledge for customers while also building an even larger level of customer service. Some retailers are also having sales associates and personal teams reach out to customers, especially VIP’s, for social reasons or to offer assistance with their personal needs. 
    1. Capitalize on Social Media. Being transparent through social media is a great way to connect to your audience and keep them involved every step of the way. See Stay Relevant subheading below for more information on how to pivot your business using social media. 
    1. Deal with Anxiety in a Healthy Manner. It’s important to check in on your entire team in addition to smaller departments, send them resources for mental health, workouts, etc. and anything else that may help them during this difficult time. Zoom has been a great resource for several companies, many of which start each meeting off by going around and sharing something positive. These can be items such as sharing what everyone cooked the night before for dinner or an unexpected silver lining from their time working from home.

 

Strategies for Brick and Mortar Stores

  1. Stay relevant. One way to stay relevant would be by marrying a successful brick-and-mortar offering with a memorable digital presence. This could mean offering as many online services as possible and creating a presence on Social Media (discussed below). “The magic of Alfred is bringing people together, and our aim is to do so digitally via social, our website and retail offerings, until we can return stronger than ever, to our shops.”
  1. Hospitality Industry. “We are encouraging all our clients to see everything through the lens of service if they possibly can. Cater to the immediate needs of people. Even closed hotels are offering recipes, at home interior tips to self care from our spas.” Now is the time to be a participant in the community. This can be by either showing your customers you are still present even if forced to shut down. By providing online and catered resources, the hospitality industry can begin thinking about smaller venues of revenue streams that may not currently seem accessible. 
  1. Restaurant Industry. In some cases, that’s been boosting delivery capabilities, or even pivoting to offer takeout when it was never previously available, dropping merchandise like limited edition sweatshirts and hats to offer an easy way for their patrons to continue to support and rep them.  One good local example is http://www.viewhouse.com/ and other offerings are also available such diningbond.com or http://give.iowatogether.com/