Insights:Consider unexpected partnerships.
It appears that COVID-19 is going to be a factor in our lives for longer than initially expected. While we’ve been hearing encouraging information about a vaccine, even if one does get approved it may be a while before enough people receive it to turn the tide on the pandemic.
The really big unknown we’re all thinking about now is what will the onset of cold weather and flu season bring? This concern keeps many people from venturing into public places unless absolutely necessary. But with more people going to fewer places there may be opportunities for you to partner with other businesses to cross-sell products or services.
Trading sales space with other businesses may work well for both entities. For example, a florist could sell flowers at a restaurant and the restaurant could sell gift cards at the florist. If you think creatively this type of quid pro quo could work for virtually any industry segment.
Marketing that your product or service is now available at alternate locations will also help both businesses reach more consumers.
In today’s ever-changing world, out-of-the-box thinking may be just what you need to keep your business in the black.