In many ways, the Corona virus will eventually become a distant memory. We won’t remember how it felt to see empty shelves at the store or fear the uncertainty of tomorrow.
But the crisis will leave its mark. Our lives and business will be changed forever.
In fact, some businesses won’t make it through the financial hardships that come with closing the doors for (possibly) weeks at a time. While I can’t guarantee that implementing these virtual business strategies will protect your business… adding multiple streams of revenue is never a bad idea.
Why is it important to offer digital products and services?
- Your customers need stability and normalcy more than ever.
- If you don’t continue to serve your customers, someone else will.
- Your employees need your business to stay afloat.
5 Ways Businesses Can Make Money Online During the Corona Virus
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Here are some of the best strategies for continuing to bring in revenue during the Corona Crisis
No. 1 – Offer Virtual Services
This is the first option most people will consider, because it’s easy to set up and could work for businesses in almost any industry. In fact, we are seeing these pop up all over. For example, fitness studios are offering virtual training or live online classes.
Software Suggestions: The best way to set something like this up is to use a scheduling tool like Acuity and an online meeting tool like LiveStorm. By the way, LiveStorm is offering it’s Meet Premium plan FOR FREE until COVID-19 resolves with code MEETFR100.
No. 2 – Create an Ebook
Don’t worry… I’m not suggesting you write a 600 page novel. I am suggesting you think about all the ways your business could help other by sharing a little bit of knowledge.
Some of the best ebooks are short and to-the-point, providing quick wins for their readers. For example, an esthetician could write an ebook all about how to make your own skin care products with pantry staples.
No. 3 – Create an Online Course
This offer is similar to an ebook in that its a way to share knowledge, but online courses are typically more in-depth. They take the student through a total transformation rather than a quick win. For example: A bookkeeper could create an online course teaching businesses how to completely transform their financial situation.
Of course, creating an online course will take more time and effort. That’s why I suggest dripping the course content, meaning you create and release one module per week. This not only gives you a little more time, but it also gives your students the time they need to fully process and implement the material.
Suggested Software – There are some really great online course platforms. I love Kartra as an all in one marketing platform, but Thinkific is my absolute favorite for newbies who want to get up and running quickly, easily, and affordably.
No. 4 – Sell Products and Merchandise Online
Give your customers/clients/students a way to support and represent your business by designing and selling merchandise online. Products like T-Shirts, Hoodies, Coffee Mugs, and Hats are big sellers and help to promote your brand.
No. 5 – Offer Bundle Discounts
Let your customers pay ahead for their products or services for a discounted price. For example, a photographer could offer a bundle that allows expecting parents to purchase maternity, labor, newborn and cake smash sessions all together for less than it would cost to purchase separately. This gives your clients a chance to save money and brings money into your business when you need it most.
Suggested Software – Whatever you are currently using for invoicing should work just fine for bundling services.
Is It Even Ethical to Market Your Business and Make Money Right Now?
I’m certain this thought has crossed your mind. As I mentioned earlier, your clients and your employees depend on you. There is nothing wrong with charging a fair price for something that adds value to your customer’s lives. In fact, the money you and your employees make will go back into the economy and help to keep it afloat as well.
Need Help Creating Digital Products and Services for Your Business?
If you have any questions setting up your digital products or services or maybe you just need help brainstorming ideas, shoot us an email at firstname.lastname@example.org.