Sunday, August 9, 2020

How can Startups Learn to Build Customer Trust amid COVID-19

The Takeaway:

We recommend that you create an internal COVID-19 task force to not only react quickly to emerging situations but also proactively reflect on how your business can help people.

How to build customer trust amid COVID-19?

1. Online Retail/E-commerce brands

  • Work with your distribution partners to ensure reduced exposure to coronavirus packaging – This can involve pre-submission disinfecting boxes. Once you have done this, tell your customers the same thing. You must know that you are investing in safeguarding them. Small business ideas in India, such as Nykaa, Amazon, and Snapdeal, have started to sell ‘contactless’ supplies.
  • Rationalizing products that are growing in demand – Nobody anticipated a product such that they would either be out of stock at several locations or sell at cheap rates. Your price team will track and ration goods with growing demand before they are released from stock. Big retailers such as Amazon and eBay were unable to respond quickly enough, but you can monitor prices.

 

2. Travel/Hospitality brands

  • Avoid the temptation of selling – With decreasing demand, airlines and hotel prices are collapsing, with short-term revenue impact. Your marketing staff should be aware that sending offers to our customers is probably not seen, and any small income you generate will not compensate for your long-term trust deficit.
  • Enable cancelations for customers easy – Many customers may struggle to cancel their travel plans at this point. Understand that they do this not because of their choice but because of necessity. A few start-ups have begun to devote their whole workforce to cancelations. It would be best if you also went a little further to make sure your cancelation is smooth. Bonus confidence points if you waive any cancelation penalties.

 

3. Physical Retail/Restaurants

  • Encourage your customers to shop/order online by giving them a discount for ‘physical distance’ – Social distance as the # 1 measure to flatten the curve and avoid the worst consequences of this pandemic is advanced by experts worldwide. You will do a lot of good if there is any way to help boost public reactions in this direction. Uber Eats, for example, has waived the pandemic delivery fees.
  • To minimize the chances of coronavirus spreading, innovate your shop layout –  Some measures may include reducing seating efficiency by increasing separation between seating and standing areas, by accepting only online cash exchanges payments and obliging hand sanitation protocols at multiple shop locations for both customers and employees of job sites in India. The theme here is creativity. Many of these measures will require investment or decreased efficiency so that they will reach your conclusion.

 

4. Technology brands

  • Release anything that might help people with COVID-19 for free – Different technological products during COVID-19 can be useful in many ways. Tech companies may help their clients figure out and use the functions most relevant to the pandemic like preparing for interview questions like why should you be hired for this internship, through video conferencing and email devices, in both small and large ways.

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Aakriti Suri
Aakriti Suri
Aakriti Suri is a writer by passion. Born in Delhi, she was always an avid reader of all things readable which motivated her to become an avid writer. Besides writing she’s pursuing her MBA in Marketing and Finance.

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