The impact of the coronavirus has a significant and tangible impact on the world economy and has sent policymakers looking for ways to respond. Although in some areas the coronavirus pandemic poses business threats, in others it also offers opportunities. The aim is to consider possible threats while seeking opportunities. The pandemic will lead to lasting changes in political and economic power that will only become apparent later. Infections are an independent business risk and an amplifier of existing trends and vulnerabilities.
As more and more consumers continue to avoid crowded public spaces, they increasingly turn to online shopping to meet their needs. And, Due to social distancing, there is a reduced amount of demand for goods and services. Companies and businesses are rethinking the ways and measures to conduct businesses. There is best opportunity for entrepreneurs to move towards ecommerce or online shopping. Some other Opportunities are:
Social media marketing
As people are asked to stay at home and practice social distancing, they are spending more time online. Working professionals are working from home and kids are learning and playing at home. One thing that is increasing is people spending time on social media platforms. So this is the best time to use social media and put your brand ahead and strengthen its online presence.
It is an excellent approach to connect with the potential clients’ email marketing can be used for nurturing the existing leads and keep them informed about the use of newsletters. The establishment of consumer and brand trust is utmost crucial for every business that takes business to stay in the long term to survive the prevailing COVID-19 phase and beyond that.
Digital collaboration and entertainment tools to see an upsurge in valuation
As companies rapidly — and in some cases also permanently — move towards remote working, the market for digital collaboration tools such as Microsoft Teams, Google Hangouts and Zoom is likely to grow quickly. Zoom has already experienced a 50% increase in its share price since the start of the year.