With the global shift that has come from the COVID-19 pandemic, many industries have faced a serious upheaval. It has changed the way businesses have had to operate to survive the ordeal that has impacted the economy for the foreseeable future. As many institutions and workforce, unfortunately, face setbacks, layoffs, and closures, the ones that have been able to stay afloat are the ones that have been able to adapt by way of digital adaptation and expansion. Why has the digital route become such a crucial core factor in business survival in 2020?
The digital age has made everyone constantly connected to media.
It’s essential to stay connected to employees, clients, customers, partners, and suppliers throughout this time. And with the advent of chat apps, email, video conferencing platforms, and social media, this has been a maintainable resource in times when real-time connectivity is essential for productivity and profit. Critical parts in each workforce can keep collaborating and producing during this time because of digital tools.
On top of that, consumer-end businesses are also able to make use of online platforms and digital marketing agency services. Many campaigns are being launched for different businesses in various industries to keep brand retention and top-of-mind communications for potential clients, whether they be other businesses or the general consumer.
E-commerce bridges businesses to consumers despite restrictions.
Even though many physical stores are at limited capacity now, and many people still can’t go out as they did before, this doesn’t necessarily stop the transaction between business and customer. Because of online marketplaces, social media, and websites, e-commerce has taken up even more space in the general market. Whereas it used to be an alternative option that many embraced, it has now turned into the primary (and in some cases, sole) choice for those who still need to get their goods and services without having to leave the comfort of their home and risk their own health. And while there are still regulations, e-commerce has pretty much enabled businesses to go above and beyond the call of service and even reach newer customers.
It allows operations to continue without forcing as much risk.
There are too many risk factors for businesses attempting to keep things running normally, with physical storefronts open and a full staff still coming in every day as different passersby walk on past. No one is thinking about staying in public spaces for too long these days, and so comes the need for digital platforms and systems to keep things running. With the necessary software to keep inventory in check and monitor work in real-time, businesses should be able to keep things going with a skeletal crew so that no one has to risk their own health very much.
Look around, and you’ll already see the impact of digitalization on today’s various industries. Even though a fourth of small businesses have temporarily shut down already, around 46% of small businesses believe that the economy will eventually be repaired within six months to a year.