Launching an Online Startup amid the Pandemic: Not a Mad Idea
The current Corona Virus Disease 2019 (COVID-19) pandemic might not be the most favorable situation to consider building an online startup, but it is also not the worst time to entertain the idea. With health risks related to virus exposure in social settings, people are flocking online to purchase their essentials, conduct business meetings, and connecting with family and friends.
Setting up a business to meet the unique demands of the “new normal” might be an excellent place to start. It’s a golden opportunity that, when executed effectively, could be one of the best things to come out of this pandemic.
Ready to explore your options? Here’s your guide to setting up an online startup amid the 2020 pandemic.
Is Now the Right Time?
Consumer behavior changes from time to time, but this recent COVID-19 pandemic has transformed the way buyers go shopping. According to Forbes, consumer confidence has yet to recover, seeing that department stores have only seen around 30-40% upturn in traffic and sales as of April 2020.
E-commerce, which took some of the spotlight in the past years, is now at the center stage due to this unfortunate situation. For some enterprises, it has become the best way to do business in the current landscape as customers continue to stay at home.
As in previous financial crises such as the recession of 2008, entrepreneurs have found that adversity could be a “catalyst to creation.” Experts believe that now is an excellent time to build a company and promote it on online platforms as users are spending more time browsing social media and websites.
While experience could be one of the primary ingredients to startup success, it’s not the only thing that matters. How does a new enterprise accomplish that? By employing experienced people to help with the technicalities of building an online startup.
Creating the Strategy
A Gartner article says responding proactively to the situation is the key to adapting to this pandemic crisis. How a business establishes its tone in the market will communicate the brand’s message and the need it addresses at this time. It’s a challenging task for any entrepreneur but planning the marketing strategy can help them move forward from apparent setbacks like rapidly changing customer behavior and government-sanctioned restrictions.
What’s the secret? Industry professionals say customer-centricity will be at the heart of any marketing strategy during this time. It’s important to acknowledge the struggle customers are going through right now and build an empathetic marketing message around that.
As an online startup, it’s crucial to amplify your brand while also creating avenues to communicate with an audience. Now that consumers are divided when choosing to transact online versus visiting a physical shop or service, optimizing the experience would be imperative for businesses that are looking to enter the market.
Getting Experts Onboard
Potential business owners who possess remarkable ideas but lack the technical skills need a creative agency to provide digital solutions for their company. Tasks like e-commerce website development as well as content and advertising management are better accomplished by digital marketing agency that knows the ins and outs of the online platform.
Trusting another business during the initial stages of building an enterprise can be hard, but ultimately rewarding. Agencies such as Yempo’s Social Media Solutions applies the Scrum Framework to website development, along with a well-planned architecture, browser consistency, and Search Engine Optimization (SEO) that can assist new owners in navigating the digital arena.
Consumers from countries with stay-at-home orders such as in America and Asia are expected to do more online shopping from now until the foreseeable future. Specifically, shopping for entertainment will likely continue to happen online. Creating a website that attracts potential customers and enriches their online experience is necessary, which a creative agency will have the expertise to fulfill.
Outsourcing an Online Startup
According to Entrepreneur, 40% of a startup owner’s working hours are typically dedicated to non-income-generating tasks like hiring, human resource jobs, and payroll. While some owners want to be hands-on with the administrative functions, it’s doubly challenging to find time to focus on operations and managing back-office tasks at the same time.
To solve this dilemma, new business owners can opt to outsource a part of the business to a reputable outsourcing company that offers the services they require. Doing so prevents mistakes due to inexperience, reduces the need to hire more employees, even eventually cuts overhead costs. It also gives the startup access to top talents that would otherwise be difficult to find and expensive to hire.
Reliable outsourcing service providers such as Yempo are well-equipped with resources and workforce to assist online startups break into the market successfully. This expertise, coupled with cost-saving benefits, will help a growing company focus on performing core business functions such as business development.
As the new normal takes over, establishing an online startup could be one of the best decisions for people who have the passion and skill to offer products and services in demand.
Yempo offers a one-stop shop of services to support a new business – from creating the e-commerce site to marketing and advertising. Contact us today to learn how we can help your business.