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As the business community reopens, and the “new normal” begins, new issues and dilemmas will surface. Civil, administrative and criminal liability claims will likely increase as people analyze health and safety rulings, seek compensation for losses.
There is no precedent, no established jurisprudence, no rules by which to clearly determine liability regarding the circumstances of many cases that will arise. Federal legislation is in the works to protect some types of businesses from certain COVID-19 related claims, but at this time it remains to be seen which proposals will pass. Following are some thoughts on what to expect, based on the status of the situation at present.
When businesses reopen, the incidence of employees citing workplace conditions as causes of COVID-19 cases will no doubt increase. Administrative issues may be targeted, such as lack of sufficient Personal Protective Equipment (PPE), such as masks and gloves. Other workplace conditions may be cited also. The Occupational Safety and Health Administration requires that employers provide employment and a place of employment free from hazards that are causing or are likely to cause death or serious physical harm. Of course, some questions regarding workplace conditions that may or may not increase contribute to the spread of COVID-19 are subject to debate and legal rulings which will then set precedents. Here’s what OSHA has to say about COVID-19.
State laws may apply to this category of claim, if the charge is directly related to conditions of employment. Workers compensation may cover the claim. Some workers comp policies, however, exclude coverage for common illness- “ordinary diseases of life” like flu. Legal rulings would be required to determine whether COVID-19 is considered an “ordinary disease” or a direct hazard of the job.
Some states are considering legislation to formally expand workers’ compensation coverage for COVID-19 for certain occupations like healthcare workers and emergency responders.
In some cases, customers may claim they contracted COVID-19 from an employee. The burden, however, would be for the claimant to prove causation, when the virus could have been contracted at many other locations. Genetic tracing is a promising technology for tracking exposure and establishing the source of the disease, but is likely too costly at present, for most cases.
Complex cases may arise involving a mix of organizations/groups. Many of these may not receive hearings, as the burden of proof is too great.
The Department of Justice recently issued guidance stating that COVID-19 meets the statutory definition of a “biological agent” and cases of purposeful exposure and infection of others with COVID-19 could be prosecuted under federal terrorism statutes.
A Sussex County, New Jersey nursing home was in the news after 17 bodies were found piled up inside a makeshift morgue inside the facility. Some called for criminal investigation and prosecution, but the movement was stifled as others quickly attempted to put in place civil and criminal immunity for health care facilities and providers caring for COVID-19 patients.
The “Facilitating Innovation to Fight Coronavirus Act” proposed to Congress is designed to preempt federal and state law to protect healthcare providers who modify medical devices for unapproved use, out of scope practice, testing, treatment.
Senator Mitch McConnell (R-Ky) with the support of the United States Chamber of Commerce hopes to pass legislation providing immunity from “opportunistic lawsuits” to even non-healthcare employers.
Following local guidelines for reopening your category of business and staying up to date on court rulings and legislation are essential for preventing lawsuits as the pandemic progresses. At Insure Your Company.com, we do more than sell insurance. We help you succeed in business. Contact us for assistance in figuring out the best plan for your enterprise in these challenging times.
Business plans are essential for many reasons. Not only is it important for you to know where you want to go with your business, but a solid business plan is also a necessary step for securing investment in your company. A good business plan looks at short-term and long-term goals and outlines a blueprint for the success of the company. If you aren’t able to articulate in writing how your business will work, the likelihood of securing capital from investors is low. But just putting something in writing isn’t enough. There is a method for developing a great business plan. Here are five key tips that will help you write your business plan.
When you are setting goals and making projections, one of the best rules of thumb is to estimate conservatively. It’s far better to outperform than to underperform. Investors get an idea of what kind of return on investment they can expect based upon your business plan, so a conservative estimation is a better number to put in their minds. This type of conservative planning also translates to your timeline. Kaye Vivian wrote for Entrepreneur that a good idea is to add an extra 15% to any timeline you establish. When you are more conservative with your planning in all areas (market share, revenue forecasts, timelines, etc.) you are showing a level of seriousness and realism to potential investors.
When you are discussing your business concept and model, you need to identify the “why” in every statement you make. When you talk about other companies that do the same thing, explain why you are different. This isn’t the time to put forth an emotional plea, but instead, use data and factual statements. You also need to speak specifically about why your concept will be successful. You need to explain the process you’ve gone through to arrive at this point in time. If there are obstacles, talk about why they exist and how you have planned to overcome them.
Investors don’t like things that are stagnant. Brian Hill writes for the Houston Chronicle, “The objective of business planning is to develop a logical series of steps to help your business grow…” In your business plan, you need to discuss the future of your company. Everything from the necessary facilities to personnel needs to be forecast over a period of up to five years. You need to address the management of the company and how this will grow with the company. This may not be overly complex if you are building a small business, but the notion of “growth” is still an important talking point.
It’s important to discuss the options for investors to reap the financial rewards of their investments. While they may share your passion (and you hope they do) for the business, ultimately they are expecting a financial reward. Discussing their role in the company, including seats on the board of directors should be addressed. If you are open to multiple options, identify that in the plan. Establishing a plan for how you intend to repay and financially reward the investor is a critical piece of the puzzle for a business plan and should be given your time and attention.
While you want your business plan to portray confidence and a clear belief in the concept, emotional pleas are best left out of the business plan. Real data and factual statements are what will resonate with investors. You also don’t want to allow the business plan to get too lengthy. Many people assume that a business plan should be a novel, but most of the time, less is more. Use a critical eye, and think as much like an investor as possible. What would you want to know if you were going to invest in a company? Those are the key questions to address when presenting your plan. Contact us to help fill in the gaps for your business and get you set up for success.
InsureYourCompany.com’s Small Business Spotlight aims at finding businesses in our community that are breaking down boundaries, helping their clients in unique ways and making a positive impact in the world. We think Lunch Break’s mission to freely provide food, clothing, life skills and fellowship to those in need in Monmouth County and beyond exemplifies those traits.
In 1983, Norma Todd and the founding members of Lunch Break had a vision of a caring community, one in which its members are looked after, fed, and nurtured. Lunch Break has since grown and expanded its offerings since then from hot meals to providing clothing, toy drives, mentorship opportunities, life skills and so many other areas of service.
InsureYourCompany.com went into Lunch Break and interviewed various people who are affiliated with the organization, including volunteers, staff, board members and clients. It was wonderful getting to know more about this organization and how they serve the community and help so many people during their time of need.
Consider donating or volunteering at Lunch Break- to donate visit: https://donatenow.networkforgood.org/lunchbreak and to volunteer visit: https://lunchbreak.org/volunteer/. Consider sharing this video with friends and family. As Gwendolyn Love, Executive Director stated: “Everyone can do their part, it doesn’t take a lot. And it’s a feel-good thing. So, I invite anyone and everyone to do their part. If everyone takes the time to lift one person up then I think very seriously that the need that we see, the brokenness that we see, we can heal a lot of people. So, everyone, do something.”
In the midst of the COVID-19 pandemic, illness isn’t the only threat facing many businesses. Cyber threats and scammers are on the rise in the midst of the pandemic, as well. Your emails could pose a source of danger for your business and your employees–but with the right training and the right responses, you can decrease the odds that you will face severe consequences from a cyber attack in the midst of an already difficult time. Keep your business safe by following these key steps.
Verify sender information in email addresses to see that it’s accurate. Beware of misspellings or letter substitutions in email addresses, particularly organization names. It’s easy to skim across the top of an email address and assume that it’s correct, but before assuming that an email comes from exactly who it says it does. PayPal, Amazon, Apple, and other businesses you already have accounts with are popular facades for scammers to hide behind–so make sure you check those emails carefully.
Be suspicious of an email that asks for personal information. The businesses you work with on a regular basis already have access to your login credentials, your financial information, and any sensitive information they need to maintain your account. Avoid simply replying directly to any email asking for that information, especially if it comes from a source that shouldn’t need that information.
Be careful of unsolicited attachments or links. If you don’t know who a link or attachment comes from, don’t open it! This includes files that come through popular sharing sites like Dropbox and Google Drive. Avoid opening files from unfamiliar senders–and if you don’t recognize the attachment that you’re supposed to be receiving, don’t open it!
Be wary if an email contains characteristics that send up red flags. Do you know how to identify potential scam emails? Make sure you’re familiar with these characteristics, which should cause you to reevaluate who an email came from and whether you should take it seriously.
Always check directly with an organization if you have questions. Most companies have customer support lines in place that will deal with any queries you have. While it may take longer to get a response during this difficult time, you should be able to get through to the company directly to answer any questions you have about your emails–and to report a spoof if necessary. Do not send your query to the address on the email; rather, contact customer support directly.
Make sure your business is fully protected during this difficult period by training your entire staff about how to handle potential threats and scammers. Some of them may try to exploit COVID-19 directly, citing changes in policies. Others may simply try to take advantage of higher stress and anxiety levels during this time. By preparing yourself, however, you can protect your business and your private information, keeping yourself safer. Want to learn more ways to protect your business, including insurance policies that can help keep you operational even in times of disaster? Contact us today.
State by state, industry by industry, American businesses are being allowed to reopen. As the country’s patchwork of federal, state, and civic stay-at-home orders are lifted, business owners are faced with tough calculations. They know that reopening is overwhelmingly unpopular, with large numbers of consumers telling pollsters that they intend to avoid shops and in-person services regardless of legal restrictions. On the other hand, many are counting on the government to step in with financial assistance during the shutdown. Will that assistance dry up if they choose to remain closed when no law requires it?
But the biggest question looming in every employer’s mind is, “How can I keep my employees safe?” This is not just a moral question, but also a financial one. Skilled employees becoming sick means lost revenue. It can also mean expenses. Employers in some areas are now being required to provide paid sick leave, and disruption in the schedule can also leave them on the hook for overtime pay as other employees pick up the slack. Most pressingly, an employer accused of taking insufficient precautions may be vulnerable to a lawsuit.
So how can you help your employees protect themselves? By taking a page from the book of the businesses that are still open.
The CDC recommends that all employees should have their temperature checked before they recommence work. Preferably, this should be done outside the facility, so that there’s no chance of a sick employee coming into contact with their coworkers. Remember that patients can spread Covid-19 even if they show no symptoms, so simply asking employees to self-quarantine if they have come into contact with a patient is not enough. They might have become at risk without knowing. All employees’ temperatures should be checked regularly with a forehead thermometer.
Once this is done, don’t let your guard down. Provide all employees with masks and gloves, and instruct them to maintain six feet (two meters) of social distance at all times. Clean and disinfect nonporous surfaces, especially high-touch ones like doorknobs and buttons, as often as you practically can. These precautions are particularly important in customer-facing roles, but not exclusive to them. Treat each employee as if they might be an asymptomatic spreader of the virus. At first, these precautions may make you feel cold and heartless, but remember that you are ensuring your employees’ safety.
Other safety precautions may be necessary. The break room, or whatever space employees use to congregate in your workplace, should be off-limits until infection rates fall. Have strict rules against employees touching or borrowing anything that another employee has used without PPE — no sharing of headphones, no passing around of phones. If you have porous surfaces in your facility — a couch or an armchair, for instance — consider covering it with a wipeable plastic sheet. The same goes for any high-touch electronics like ATMs or credit card readers, which cannot be thoroughly cleaned with liquid disinfectants.
Lastly, to protect your employees and your business, think about what aspects of your work can be done remotely. Customers are going to avoid brick-and-mortar stores for a long time to come. If your business has a mail-order or e-commerce arm, think about diverting people and resources to it. Think about what services your customers need and how you can provide them in a socially distanced way. If not, now is the time to build one. No business is going to survive 2020 without adapting, improvising, and rethinking what their industry is and can do.
For more information about reducing risk, insuring your company, and maintaining best practices in business ownership, visit our website. For a free quote, contact us.
As the owner of a new, small business, you probably have more concerns and challenges than you have time to address. There’s everything from maintaining cash flow to hiring the right people to protecting your new company with the right kinds of business insurance.
But all those concerns won’t mean much if your business doesn’t grow—and your business won’t grow if you don’t effectively market it. Of course, the days are gone when marketing meant a blurb in the Yellow pages and the occasional ad in your hometown newspaper. The internet changed all that.
Today, 87% of consumers start their search for products and services on the internet. That means you need an effective digital marketing strategy that connects with all those searchers—and to persuades them to buy your products and services. That strategy should include everything from optimizing your website for search engines to sponsored ads, email and content marketing. It should also include a robust social media marketing strategy.
Why? The reason is simple: to showcase your business to prospective customers, you need to go where they are, and where they are is on social media platforms like Facebook, Twitter, LinkedIn, Instagram, YouTube and Pinterest.
Said differently, social media sites represent an unparalleled opportunity for your business to connect with prospective customers for your small business. To get an idea of the marketing opportunity social media sites represent, check out the metrics from HubSpot:
To begin, every business is different, with different customers, different goals and different marketing challenges. For example, if you own a B2B company, your best bet might be to focus on LinkedIn because that’s where businesses connect with each other. If you’re B2C, you might do better with Facebook and Twitter.
But there are some best practice social media marketing strategies which work the lion’s share of businesses, including the following 5:
1. Understand your audience: if you don’t know who your customers and prospective customers are, it will be a lot harder to connect with them on social media. First, you need to know which social media sites they use—although it’s true that Facebook is the preferred platform for small businesses marketers (86% of them advertise on that site), you need to know what sites your customers prefer.
2. Establish realistic goals: You need a clear sense of your social media marketing goals. For example, is your principal objective to push more traffic to your website, generate more quality leads or boost conversions? You also need to ensure your goals are specific, realistic, measurable and attainable. For example, it’s not enough to say, “we’ll increase lead generation.” You need to spell out:
3. Be active on multiple social media sites: different customers prefer different social media platforms. Having a strong Facebook page is a good start, but the more sites you leverage, the wider your reach and the greater the odds your social media campaigns will be successful.
4. Post content that resonates with your customers: you need to give prospects a good reason to follow you on Facebook and other sites. Do some homework to find out what their major concerns, questions and problems are and post content that addresses those concerns, answers those questions and solves those problems. You can also boost engagement with smart promotions, discounts and free trials.
5. Measure results: to maximize the impact of your business presence on social media, you need to know what’s working—and what isn’t. Make sure you’re using a robust analytics tool that will help you determine which content is generating the most leads, pushing the most traffic to your website and creating the largest number of conversions (one of the best is Google Analytics).
Effectively managing a startup small business or single-person LLC isn’t easy. With all the issues you tackle every day, it’s sometimes smart to get the help you need from experts who can give you the advice and guidance you need to succeed. That’s where we can help.
To learn more about the ways our business insurance and employee benefits services can help you achieve your principal goals—and take your business to the next level—contact us today.
As small businesses begin to recover from the immediate crisis, they must begin looking forward to what their “new normal” will be. Right now, the majority of small businesses are getting hammered by shock waves from the coronavirus’s impact on the global and national economy. A McKinsey Global Institute analysis, based on multiple sources, indicates that the shock to our livelihoods from the economic impact of virus-suppression efforts could be the biggest in nearly a century.
As the Washington Post comments, “As the pandemic takes hold across America, some businesses are getting crushed, like Powell’s Books in Portland, Ore., which closed its doors for at least eight weeks. Others are thriving, like Amazon, which announced 100,000 new hires to help manage the rush of online orders. Still others, like Tampa’s Rooster & the Till restaurant, are adapting — in ways that, economists say, might lead to long-term shifts in how Americans spend, work and live.”
Small businesses that are looking ahead towards a post-coronavirus economy are the businesses that are working proactively to maintain strong customer relationships, adapting to the shifting tides in business practices, and making concrete, data-driven plans for the “new normal” of the future. In this article, we’ll highlight three key moves your small business should be taking now to ensure success in this changing economy.
As our population grows increasingly physically distant from one another, it is a critical time for you and your staff to be reaching out to your customer base and strengthening those relationships. At many companies, as staff moved from work to work-from-home, they experienced a significant decrease in regular workload because their normal duties were performed in the context of the workplace. This is an opportune time to assign customer caseloads, with each staff member making personal check-ins by phone or video conference.
Most ways to build and maintain customer relationships involve some form of regular communication or interaction between your business and the consumer. Some other simple communication strategies that we recommend include:
As your business moves forward, it’s also critically important that you allot some time to reflect on the past. What kind of systems did you have in place? What was working? And what wasn’t working? What kind of concrete steps can you take to plan for a rapidly-approaching “new normal”?
McKinsey agrees, “Decoding this new normal—and ensuring that the company has a strategy to navigate it—is an important part of the work… Approaches such as using a portfolio of initiatives and planning for decision-making under uncertainty can go a long way toward creating a compass for business leaders to follow.”
For your business, this may include developing a strong contingency plan in case of emergency, doing a thorough audit of your finances, or updating your technological devices and communication tools. The actual details of your plan should be extremely company-specific; what matters most is that you’re acting to advance your business even while things may seem at a virtual standstill.
It’s undeniable that many businesses practices we once relied on are going to phase out over the next few months, replaced by new and evolving business practices. McKinsey reports, “New working and shopping practices will probably become a permanent fixture of the next normal.” And as our working and shopping practices change so will our business practices. As a leader, it is best for you to accept that fact and focus on moving forward. You’ll do much more for your company and your employees by acting with humility and resilience, and looking with optimism towards the future.
At this time, you should be researching and gathering information about what the business practices of the future may involve. McKinsey predicts, “Institutions that reinvent themselves to make the most of better insight and foresight, as preferences evolve, will disproportionally succeed.”
The return to a pre-coronavirus world will take time and will require patience from small business owners. But the companies that will find success are those that are refusing to stop operations, and are instead acting and thinking flexibly about how to survive in a transformed economy. Those that are actively seeking out advice and information are those that will find a way to adapt to a “new normal.” So if you’re interested in more advice about how to thrive as a small business owner in a post-coronavirus economy, reach out to us today.
Zoom Video Communication Inc. was sued by one of its shareholders for overstating its privacy standards and not disclosing that its service was not entirely secure.
The shareholder claimed that media reports highlighting the privacy and security flaws in the video application resulted in the plummeting of the company’s stock. Zoom lost nearly a third of its market value by end of March. And that’s not all.
Although Zoom CEO apologized and promised to take the necessary steps to fix the issues, businesses have a reason to worry now than ever. Why?
Most employees and their bosses have to work from home. And we’re starting to notice several cybersecurity concerns. But it’s not just affecting employees and employers.
Customers are also embracing technology to get products and services. So if your business uses unsecured digital solutions, you might lose thousands of dollars and even push your customers to your competition. We don’t want that to happen to you.
In this blog post, we explain four things businesses should learn from Zoom’s privacy and security flaws to ensure you’re using video communication safely and securely.
When you install a new set of applications to your network, it can be easy to assume they will be automatically secured by existing firewalls. But this is not the case.
Most video communication platforms and endpoints will often depend on their own Session Border Controller (SBC) to control traffic, such as blocking suspicious connections. This is because these technologies use different protocols.
For instance, some video conferencing solutions use ordinary data connections while others use voice over internet protocol (VoIP).
Therefore, it is wise to make sure your firewalls are configured accordingly before and after installing new applications. Also, be sure to review your network settings regularly to ensure they’re up to date.
Apart from network security, encryption is another must-have for video communication to be secure. It stops snoopers from getting into your system and secures the content of your communications.
Zoom, for instance, was accused of failing to meet this security measure. And the CEO said the company is working to add end-to-end encryption to protect the privacy of its users.
Unlike what most people believe, not all security breaches are caused by hackers who intentionally break into systems. If wrong people are inadvertently granted access to sensitive communications like video conferencing, it can quickly result in security issues.
For example, businesses using open virtual meeting spaces or not following the right settings when inviting participants can easily find themselves losing sensitive information.
One of the surest ways to avoid this mistake is to use permissions. By developing different access levels for different video conferences, you control who can access your communications. Fortunately, most video conferencing platforms today support the creation of dedicated groups. Use them to your advantage right now.
Using state-of-the-art network security measures and end-to-end encryption can only do so much if people in your company don’t know how to use video conferencing securely. Human error still accounts for most cybersecurity issues.
People tend to make the following mistakes when using video or teleconferencing:
Businesses that have successfully embraced video conferencing know that training employees on safe use policy are extremely important. As such, create a clear set of policies on how to use the system, secure connection, and best practices to keep data safe.
As more people work from home, video conferencing is gaining popularity. Without the right measures, this solution can put your business at a greater risk. At Insure Your Company, we care about your business. If you suspect you’re at risk or want to learn more, don’t hesitate to call us on 888-242-4675.
What are the most efficient ways to better understand customers, to gain detailed facts about their preferences? The methods chosen to garner this information may vary from business to business, but communication and data analysis, in one form or another, are the tools that build sound insight.
From old school personal contact with customers to sophisticated data management systems, the importance of understanding what customers want and the channels through with they wish to receive them is imperative for every business.
First, take a look at your business from an objective viewpoint. We’ve all heard the adage about walking a mile in the shoes of others before offering judgment. That concept applies when it comes to evaluating a business from the standpoint of the customers.
Often, we become too focused upon our own perspective. Try entering your place of business pretending you are a first time customer. Browse around the waiting or sales area. Are the surroundings attractive? If it’s a retail business, are items displayed in an organized manner with ease of selection in mind? Are the items of sufficient quality to be worth the price?
View your website in similar manner. Is the design simple, yet unique and attractive? Does it hold your attention? Is it easy to navigate?
Honestly asking yourself what you would expect from your business, if you were a customer can be very revealing experience.
Engagement is a valuable concept which encourages customer loyalty to a brand or a business. In these days dominated by social media, in person conversations with customers have become a rare occurrence for many business owners. But one on one communication can be one of the best actions to help a business owner truly understand customers.
Don’t be afraid to mingle. Customers will appreciate the opportunity to express opinions and tell their friends about your caring attitude toward your customers.
When speaking with customers allow them to freely express themselves, but remember to ask for opinions regarding plans you are thinking of implementing.
Inquire about the customer’s favorite and least favorite aspects of the business. Be specific, whether you are conversing in person, putting together a questionnaire, or online survey site.
A printed list of questions can be sent home with each customer, if a business offers in person services.
Putting a link on your website or Facebook page is a great way to get information. Or, mass e-mailings can be sent requesting responses to a survey. Specialized services are available to assist with these options if your business doesn’t have an employee with the time and expertise to set up online programs.
CRM, “customer relationship management systems” are an invaluable way to collect and process information. This type of technology allows owners and managers to record, store, analyze data regarding every person who touches their business.
A CRM tool stores customer and prospect contact information, reveals customer buying trends, identifies sales opportunities and manages marketing plans, all in one central location. Information about any customer interaction becomes easily accessible by anyone in the company.
Various types of data from different aspects of the company can be analyzed simultaneously to produce data useful in making wise, informed, business decisions for the future. CRM technology is becoming increasingly important as business climates become more complex and competitive.
Trends regarding customer preferences and behavior stand out with this kind of comprehensive analysis.
Any techniques implemented to assist in gaining a better understanding of customers will serve as an investment in the future of a business.
Located in New Jersey, InsureYourCompany.com works with a wide variety of businesses, but specializes in single person Llcs and tech companies. Need help with data analysis in order to gain a greater understanding of your customer base? Contact us. We can help you grow your business.
The coronavirus outbreak is spreading throughout the world and its economic symptoms continue to emerge. A growing number of small and established companies, like Apple and Walmart have announced they will not hit their financial goals for the next quarter due to major disruptions in the supply chain and reduced customer demand.
To mitigate the impact, most businesses are turning to digital channels, operations, and products. CIOs are finding ways to maximize digital workplace resources and technologies to meet changing customer demands. But that’s not all.
Natural disasters, cybersecurity, and new threats are also on the rise. Businesses with well-documented continuity strategies and recovery plans are more likely to succeed. Experts say these companies will make lemonades from the crisis and come out stronger than before. That could be you.
In this blog post, we look at how CIOs can expand digital workplace resources and leverage technology to address these emerging concerns and realize business continuity.
To stop the virus from spreading and keep everyone safe, companies are encouraging employees to work from home. For CIOs, it’s the time to make sure all your team members have systems in place to remain productive. And here are a few steps to take:
Study workflow of employees in your company and identify jobs that can be done remotely. Afterward, identify the systems these employees might need. For instance, they may need in-house communication solutions such as messaging, email, ERP, and CRM systems. Also, don’t forget to include communications with business partners and your customers.
As mentioned earlier, cybersecurity threats are on the rise. So, review your existing security infrastructure and determine what your employees will need to work safely.
Look at the hardware and the networks they will use while working remotely. Are their devices personal or company-issued? Are the networks public or private? How will you ensure all employees sign-in to company systems securely?
When the number of employees working remotely increases, it’s critical to update your policies. Make sure everyone knows their roles. This will help IT specialists update system access. They may need to either expand or limit access. And finally, make sure all your workers undergo training on data protection, and how to securely share documents electronically.
You may need to quickly acquire new technological solutions to facilitate remote work. For example, you may have to secure video-conferencing and other collaboration tools.
If you have an existing vendor, consider renegotiating the number of users to accommodate the sudden surge. It may be wise to opt for flexible and short term contracts.
Now that you know what to do to improve business operations, let’s look at customer demands.
During difficult times, customer tolerance tends to reduce. Customers expect businesses to rise to the occasion and reward them for loyalty. If you don’t, you risk losing them forever. Solution?
As more people stay at home, businesses will experience an increase in customer questions, online orders, and cancellations. Rather than waiting until it overwhelms your customer care representatives, act now.
Increase your self-service capability online by investing in chatbots, email, and mobile apps to manage common questions. Let your customer care reps to deal with more complex problems.
Not all products are suited to self-service delivery. For example, if your business relies on face to face communication with potential customers, then you may need to be creative. You could turn to telemedicine or teleconferencing to hold remote events. The human touch can be the difference between signing in new clients or falling behind during these challenging times.
During this crisis, it is upon CIOs to rise to the occasion and keep their companies afloat. So take a good look at your company. Identify what matters the most and what areas need improvement. Most importantly, be resilient. To learn more, please reach out to Insure Your Company to speak with one of our experts.
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