When the economy takes a drastic turn for the worse, it’s natural to panic. But try to steady your emotions by focusing on the resources that may be available for businesses in your community.
Connect with your local chamber of commerce to understand what services and support they might be offering while communities are on Shelter in Place orders. From loan extensions to other financial incentives, local governments are coming up with creative ways to stabilize markets while the country is in quarantine.
2. Buy Advertising
It may seem counter intuitive, but now might be the time to buy advertising. If you already have print or radio as part of your marketing mix, investigate the sales and promotions offered by newspapers and radio stations. Deep discounts are available in many markets. If you have the budget, you can make your dollars go farther than ever before while remaining top of mind for your customers.
3. Collaborate with Other Local Businesses
You can also collaborate with other local businesses. If you specialize in donuts, partner with another business that offers lunch items. You can sell each other’s products in both places, doubling your potential impact and reducing the number of trips your patrons need to make. There are examples all across the country where coffee shops, bakeries, lunch delivery services, and even wine shops are working together to create one-stop shopping for local customers.
4. Promote and Donate
Finally, if you are promoting gift cards as a way to bring revenue in the door while customers are staying home, consider donating a percentage of the sale to local first responders or your hospital. Programs like a $25 donation for every $150 sold in gift cards are emerging in several markets. You’ll be contributing to much needed resources for our healthcare workers while incentivizing consumers to support your business. It’s a win-win-win for everyone involved.
Being creative and thinking outside the box is challenging when stress is front and center. But by working with community resources, partnering, and giving back, you can help your business succeed during these trying times. Look for more ideas from Dawn Foods over the next weeks as we continue to focus on strategies for boosting the bakery industry in the age of COVID-19.
Still intimidated by social and struggling the find the time? We’re here to help. Dawn Foods will be providing social media content and suggestions to our customers over the coming weeks to help you stay connected and stay busy. It’s just one way we put bakers first and are focused on doing all we can do to help you succeed.