Right now, it is hard to look to the future of a world after COVID-19 has passed. But businesses need to continue, and the impact of the coronavirus will be felt by many. You will still need to make money, and people will still need services. So how are businesses across the world looking to survive COVID?
Over the next few days, we will look at different ways that businesses can look to survive in a Coronavirus-ridden world. At a national, international, state and local level; there is a program for everyone. Today we will look at work that Facebook is doing to help businesses internationally survive Coronavirus.
I'll be honest, this question is pretty dang confusing. In a lot of ways, Facebook isn't providing too much information just yet. Here are the logistics that we know so far. First, Facebook is promising $100 million to small businesses impacted by COVID-19 across the world. In more than 30 countries including the US, China, and more, Facebook will help 30,000 eligible businesses.
If this works properly, Facebook will be giving roughly $3,333 to each business. This is a really helpful grant, and it could truly help businesses survive in trying times. With so many businesses internationally being forced to close due to COVID-19, it is going to be hard to stay above water. Facebook is opening applications in the coming weeks to businesses internationally. If you would like to sign up, keep your eyes out for the application opening soon.
All of that said, Facebook is a multi-billion dollar company. This $100 million will make a huge difference, but it is a fraction of what they possess. If this is all Facebook is offering, it might not be the most in the long run. But it could still change things.
Let's get down to brass tacks. Facebook can't be relied upon to save everyone. Neither can President Trump or the White House, at this point. Things are, for lack of a better term, weird as hell out there. So what can you look into? Well, there are a number of things to look into off the bat. To split into two groups, I want to point out technology and marketing trends that you can look into.
Depending on the status of your business right now, you might still be in operation without people really knowing about it or being able to walk through your doors. Right now, social media marketing is a strong means of getting in touch with your clientele, but that can only go so far. Right now, you need information to be as widely accessible as possible.
Inbound marketing is a strong means of helping people find you in these trying times. It helps to redirect traffic to your business by working with others. It is also important to know your branding. How do you stand out, and how can other people find you? Finally, make sure that the content that you are creating to market your business is strong enough to do the job.
The last marketing-related thing to note is that you need to keep an eye on your budget. With this strange time, you are likely pressed for cash. If you can't get your hands on a loan like Facebook is offering, you might find yourself really struggling to successfully fund your marketing. Find cheap alternatives for marketing in order to help yourself stay strong and look into the kinds of grants that Facebook is offering.
Here is another place that Facebook's work can come into play.' The international market is making some big changes to small businesses. Amazon is already working with small businesses in various ways. Yahoo and Google also are big for dealing with small business learning and funding. But in a post-COVID world, it can be hard to know how this will affect the financial landscape.
There are likely to be significant new technology trends to keep up on. As working from home becomes the norm, you might find yourself looking for ways to deal with the chaos. Zoom and other such communication programs are huge right now, and that probably won't change. Stay ahead of these trends to keep yourself stable.
Finally, consider how to expand your business globally with digital marketplaces. If you can't do business in person, now you might be able to do it with technology. You don't have to ignore your local customers, but you can also help your business stay afloat and keep cash on hand.
So this is (of course) and exaggeration. But things are bleak right now, that much is certain. It will be hard to know what comes next in this brave, new, post-COVID world. But as the Coronavirus impacts people internationally, we will see how this can change lives. Stay strong, friends.
Brian Cairns, CEO of Prostrategix Consulting. Over 25 years of business experience as a corporate executive, entrepreneur, and small business owner. For more information, please visit my LinkedIn profile