Preparing your business against Coronavirus

Guidance for businesses to plan and respond to COVID-19 outbreak

Human Resources

Prepare a remote work policy & a communication plan

• communicate regularly what the company is doing to provide business continuity;
• prepare a comprehensive remote work policy and an employee handbook;
• remind employees of the HR policies for remote work, flexible working hours and business travel;
• keep employees informed on Governmental measures - quarantine measures, school closures, paid leave;
• provide recommendations on how to stay healthy (ex: routine cleaning, safety on public transportation);
• consider creating support groups for those who experiment remote-work for the first time;
• Advise employees to look for information only from reliable sources like the World Health Organization (www.who.int).

Business Operations

Plan for business continuity and prepare for operational resilience

• work with the IT department to ensure tech infrastructure for collaboration and communication is ready to empower secure teamwork;
• invest local managers with authority to take immediate actions based on disease impact in each region;
• evaluate workforce availability in the countries that might implement quarantine;
• plan proactive measures to minimize the effect in projects’ execution and delivery to customers;
• ensure you have enough inventories for a sustained period and also look for new suppliers in unaffected destinations;
• cancel business trips and face-to-face interactions with clients and suppliers.

Financial

Model your financials for different scenarios

• simulate potential scenarios to respond to market fluctuations;
• evaluate the potential impact on monthly revenues and make cash flow forecasts for the next 6 months;
• create scenarios for unexpected cash flow shortfalls disruptions (ex: Negotiate Your Payables, business interruption insurance, slash expenses, test capital access options, shorten working hours)
• mitigate risks by reviewing customers and suppliers contracts to understand where your dependencies are.

Sales

Look for opportunities but don’t be salesy

• analyze the drivers of demand in each market segment and understand how they are likely to change;
• identify opportunities for your product or service in the rapidly changing climate
• customize your product functionalities to serve industries that are benefiting from the coronavirus pandemic (ex: FMGC, online streaming and media platforms, pharma & healthcare)
• plan for alternative non-affected markets

Marketing

Think twice about cutting your marketing budget

• identify the concerns of your customers and define communication plans for each stakeholder;
• prepare a PR action plan; it’s not a good time to communicate company news but focus instead on how you can contribute to the business community;
• it’s time for CSR initiatives- finance cleaning or medical equipment, support and protects doctors and hospital staff, provide expertise where is needed;
• avoid promoting content that might fuel concerns;
• avoid promoting your company, products or services as if nothing has happened - stop and analyze your PPC, Social Media ads and other forms of Paid Advertising
• adjust your social media calendar daily according to the pandemic’s evolution
• consider promotions that might incentivize customers who are reluctant to investments these days
• consider messaging stakeholders and communicate openly about the status of your operations
• be proactive in addressing how you handle conferences, exhibitions, and other events as an organizer or participant.

Implications on the long term

According to the epidemiologist: “viruses can’t tolerate high heat and humidity, preferring the cool and dry conditions of winter and spring and are less prevalent in warm, humid months. If the new coronavirus follows suit, then containment efforts plus the arrival of summer should drive infections to near zero. But also like flu viruses, that doesn’t mean it’s gone.”

Evaluate your operations and make sure you have a plan to sustain them in the long term.

We are here to help! #BusinessCommunity

We, at NNC Services, believe in the power of the business community to help through this challenging time. Now, more than ever, we need to support each other and unite our forces to ensure those good opportunities will come sooner or later.

All the NNC Services Senior Marketing Consultants are available to provide a free 1-hour consulting session via Skype, Zoom, phone or any other remote communication platform in the following days, to help you with key advice of how to approach marketing in the times of crisis and move towards a more digital-oriented communication.

If one of the following questions worries you, reach out to us and someone will talk to you soon:

• All the business events were canceled, this was the main channel for me to reach our customers, what do I do next?
• How do I reconfigure my marketing strategy in the short term?
•  How do I reconfigure my marketing budget allocation on a short, medium and long term?
• How do I move towards a more digital marketing-oriented approach to ensure I keep in touch with customers and prospects?
•  What new technologies and channels can I approach to ensure continuity in my marketing team and activities?
• What type of campaigns can I still approach during the pandemic?
• In general, what should my company do with marketing during a crisis?