With the ongoing pandemic, it has become prevalent that having an online business is necessary. With many companies quickly realizing that they have to develop alternative solutions to keep business flowing in, many may ask, how do you "COVID PROOF" your business?
Companies Are Going Digital To Adopt To Covid-19
When Covid-19 first hit the globe, many businesses were ill-equipped to deal with the new restrictions and shutdowns. As guidelines have been established for restaurants, retail stores, theaters, and other businesses, many companies have found ways to cope.
Financial analyst company Gartner, Inc. reported on Chinese businesses, finding that those that illustrated the most resilience during the pandemic were the ones that partnered with highly reputed digital providers and incorporated automation into their business plans. It gave an example of a department store that put its resources into social marketing. By deploying its own sales clerks as hosts of a live-streamed event, the company was able to generate the same amount of weekly revenue as it would have achieved pre-Covid-19.
Those who offer services are now pushing to optimize their websites for online booking and sales as the world is temporarily "contactless"
By the numbers: Tech giants say they saw massive growth in online adoption by small businesses during the pandemic.
Stripe CEO Patrick Collison tweeted Thursday that "more businesses launched on Stripe since the start of 2020 than did in the rest of Stripe's history before then." For reference, Stripe launched in 2009.
Facebook CEO Mark Zuckerberg said in April that the company now has more than 200 million businesses that use its free services — more than double since 2019 — and that more than 1 million businesses have set up shops on its platform.
Etsy: The number of active sellers on Etsy soared from 2.7 million in 2019 to 4.4 million in 2020, the company said in May.
GoDaddy: The world's largest internet domain registrar, GoDaddy said last year it added 1.4 million net customers — nearly double the amount it added in 2019.
Other firms, including Snapchat, say ad revenues have increased dramatically thanks to more small businesses buying self-serve ads.
There has never before been a bigger opportunity to grow your business online and the stats are clear. For those that wish to grow and expand optimizing your online presence may be a lifesaver. Not only do we provide Michigan web design services but across the united states.
BE SMART
While most people think of the pandemic's digital revolution in terms of e-commerce, the services sector has perhaps experienced the most fundamental changes during COVID.
New products and tools from tech platforms have made it much easier for people to obtain services online, like doctor's visits or fitness classes.
"We can see in our dataset that services businesses are doing the best right now (digitally) and stores are starting to open," GoDaddy CEO Aman Bhutani told Fox Business last month.
The big picture: The digital small business boom has been a great opportunity for tech giants to prove their value to society while facing record regulatory scrutiny.
Google, Facebook, and others have spent millions on advertising touting ways they've helped small businesses survive during the pandemic — and helping the overall economy to recover.
The bottom line: "Overall rate of migration to the internet economy is hard to overstate," Collison noted.
Ready to take the next step forward with your business?
