Wednesday, 29th April 2020 | Management
How Canadian businesses are reinventing themselves during the pandemic
Stories of resilience, adaptability, and creative thinking that have allowed some Canadian businesses to pivot and thrive.
With limits on travel and social interaction, and the evolving needs and desires of customers, virtually every business is experiencing some sort of disruption to everyday operations. There’s no shortage of stories about struggling small businesses but it’s not all bad news. There are many stories of resilience, adaptability, and creative thinking that have allowed some to pivot and thrive. Read on to learn about small business successes from coast to coast.
Retailers
While online retailers may have seen a spike in sales, brick-and-mortar stores have had to adjust—and fast. For Toronto home goods store, Spruce, this has meant providing free local deliveries. “We chose to close the storefront for the safety of my employees and the community,” says owner Kim Alke, “but I take orders through my website and do contactless deliveries twice per week.” Glass Bookshop in Edmonton has taken a similar tack with free deliveries in the community and has seen sales shoot up, partly because reading is one of a dwindling group of safe activities but also likely due to the fact that co-owner Matthew Stepanic brings along his corgi, Bob, on book runs.
If pivoting to deliveries isn’t the right answer, maybe changing the product is. After initially shutting down, Toronto’s Bathing Belle designer swimwear shop reopened to sell cloth masks under a buy one-donate one model where each purchase triggers a donation to a long-term care facility in the city.
Gyms and fitness Studios
For gym and fitness facilities, going online is the only answer for safe classes. A quick response to the pandemic is what saved 3rd Degree Training in Stratford, Prince Edwards Island; within 24 hours of closing their physical location, the company began offering new daily workouts broadcast from the instructors’ garage to Facebook Live.
Toronto’s SAOR Studio made the same immediate shift to digital training and nutrition support—and went a step further. “We made our six-week training plan free to everyone and have had 1,500 people download it so far,” says founder Nathania Harrison. “We also lent all of our equipment like weights, tension bands, gliders, and yoga blocks to members so they could build their own studio at home.” They also expanded their merchandise and set up a simple ordering page on their website to boost their revenue stream.
Manufacturers
You might expect manufacturers to face fewer COVID-related challenges but that wasn’t the case for Stonex, a seller of natural stone that had previously used a traditional showroom to display and sell their products. Unable to invite customers into their showroom like before, they innovated, building stone sample boxes similar to the fabric swatches used by tailors and dropping them off curbside. Alongside toilet paper and non-perishable food items, hand sanitizer quickly became a scarce resource across Canada. Some alcohol producers, like Victoria Distillers from Sidney, British Columbia began using a by-product from their process to produce sanitizer for their community.
Even retrofit hand sanitizers need labelling and as soon as the COVID-19 epidemic hit, Lorpon Labels stepped up with free design and packaging. However, they quickly realized that their equipment—which could cut acetate—could be used to manufacture personal protection equipment. In cooperation with a foam injection company, the label company temporarily retrofit their operations to produce protective equipment.
Restaurants
Although home delivery options have long existed for restaurants, restrictions on sit-down traffic and the sudden surge of home cooks have taken their toll on this industry. Most establishments can’t survive on take-out and delivery alone. Luckily, there are some very creative thinkers in the biz.
Chaeban Ice Cream, a popular artisanal and all-natural ice cream shop in Winnipeg, was forced to close due to the COVID-19 restrictions. Undeterred, owners Joseph Chaeban and Zainab Ali used their time off to come up with an all-new business model: The Chaeban Ice Cream Club. Their subscription service offers no-contact monthly ice cream deliveries to their customers’ door.
Ordering delivery is a good occasional treat but you can’t beat the freshness and taste of a just-cooked meal. This—and a desire to share Thai culture and cuisine—was behind Kasorn “Mo” Meepan’s COVID strategy. In response to the restrictions on dine-in eating, the owner of Sala Modern Thai Kitchen & Bar made the bulk of her menu available of ready-to-cook meal kits, bringing her customers food and the new skill of Thai cooking.
The plight of Canada’s restaurants has received massive amounts of attention, with many places worried that they won’t survive this period of economic instability. In a bid to support favourite establishments, we can all participate in the national #takoutday campaign which encourages purchasing a take-out meal each Wednesday (or purchase any day of the week).
For Canadian small businesses, the stakes of this pandemic are high but with some creative thinking and the willingness to support each other, we can make it through together.
Read Also
Embracing AI: Small Business Marketing Success
Venturing into Artificial Intelligence (AI) may seem like treading uncharted waters, but it's an opportunity for small businesses to revolutionize marketing strategies and spark growth. Much like the buzz surrounding ChatGPT, AI tools offer myriad capabilities, ranging from task automation to personalized customer experiences. In fact, research shows that 39% of small businesses have already invested in AI tools to innovate their customer engagement and retention strategies, leveraging AI to save both time and money.
Unlocking the Power of AI Tools
AI tools span a wide spectrum of applications to streamline processes, analyze data, and optimize marketing campaigns. Let's explore some key AI tools commonly embraced in small business marketing:
Data analysis
AI-powered analytics programs sift through vast volumes of marketing data, distilling valuable insights and trends that inform strategic decisions and fuel campaign optimization. This enhances efficiency and facilitates cost savings, with 25% of businesses using these savings to increase wages and benefits.
Natural Language Processing (NLP)
NLP technology empowers chatbots and virtual assistants to engage customers in natural conversations, enriching customer service and sales interactions.
Automated decision-making
AI algorithms offer actionable recommendations, guiding marketing strategy decisions to ensure resource allocation aligns with business objectives and budget constraints.
Content generation
AI-driven tools churn out written content, such as blog posts and social media captions, at scale, freeing up time for creative endeavours while maintaining quality and consistency.
Real-time personalization
Leveraging customer data, AI enables personalized marketing experiences by delivering tailored recommendations and offers, thereby enhancing engagement and driving conversions.
Leveraging AI for Marketing Success
Incorporating AI tools into the marketing toolkit can yield substantial benefits for small businesses. Here's a roadmap to harnessing AI for marketing success:
Harness data insights
Utilize AI analytics platforms to extract actionable insights from marketing data, empowering informed decision-making and continuous optimization.
Elevate customer engagement
Deploy AI-powered chatbots and virtual assistants to provide personalized customer experiences, fostering satisfaction and loyalty.
Make informed choices
Rely on AI-driven recommendations to shape marketing strategy, ensuring alignment with business objectives and market dynamics.
Streamline content creation
Utilize AI content generation tools to produce high-quality written content efficiently, maintaining relevance and resonance with the audience.
Deliver tailored experiences
Leverage AI to deliver real-time personalized marketing messages and offers, nurturing deeper connections and driving conversions.
Designing an AI Marketing Strategy
Designing an effective AI marketing strategy requires careful planning and strategic execution. Here's how to do it:
Identify Business Requirements
Assess business needs and objectives to determine how AI can support marketing goals.
Decide AI Framework
Choose AI tools and technologies that align with business requirements and budget constraints.
The Right Approach
Adopt a strategic approach to implementing AI in the marketing strategy, focusing on areas where it can deliver the most significant impact.
Evolve
Continuously monitor and refine the AI marketing strategy to adapt to changing market dynamics and emerging trends.
By embracing the power of AI, small businesses can unlock new avenues for growth and competitiveness in the ever-evolving digital landscape. With careful planning and strategic implementation, AI can be a game-changer for small business marketing, driving engagement, loyalty, and business success. So, let's embark on this exciting journey together and seize the opportunities that AI has to offer.
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Cybersecurity Strategies for Small Businesses
As we embark on a new year, the ever-evolving digital landscape presents opportunities and challenges. In 2024, one of the paramount challenges demanding attention is the persistent threat of cyber attacks.
Safeguarding your business against these threats is not just advisable—it's imperative. Let's explore the crucial cybersecurity strategies every small business should adopt for a secure and prosperous journey throughout 2024.
Understanding the Landscape
The IBC’s 2023 Cyber Security Survey revealed a concerning trend among small businesses. Despite over 60% considering their size immune to cybercriminal attention, small businesses with 1,000 or fewer employees experienced a surprising 43% of yearly cyber attacks in 2023.
Crucial Cybersecurity Strategies for Small Businesses
Educate Your Team
Empowering your team with effective cyber threat identification skills is essential. Regular training sessions can equip them to recognize phishing emails, use strong passwords, and identify potential security risks. A well-informed team serves as the first line of defence against cyber adversaries.
Ensure your training addresses these common security issues:
1. Phishing attacks: Deceptive tactics to trick victims into sharing sensitive information or deploying harmful software.
2. Malware attacks: Cyber threats involving malicious software executing unauthorized actions.
3. Ransomware: Malicious software designed to deny access to files, demanding a ransom for decryption.
Employee Training and Awareness Programs
Acknowledge that your employees are not just integral to your business—they are the first line of defence against cyber threats. Regular training and awareness programs inform your team about the latest cyber threats and preventive measures. Cultivate a culture of cybersecurity awareness where every team member actively contributes to the protection of your business.
Strengthening Your Digital Shield
Crafting an impenetrable shield for your small business involves developing good cybersecurity habits through daily practices:
1. Regular Software Updates: Keep all software, including operating systems and security applications, up-to-date to patch vulnerabilities.
2. Security Audits: Conduct routine security audits to identify and rectify potential weaknesses in your systems.
3. Password Policies: Enforce strong password policies, promoting the use of complex, unique passwords.
4. Require long, varied passwords for sensitive accounts.
5. Enable two-factor authentication for added security.
Invest in Cybersecurity Technology
As cyber threats advance, upgrading defences is crucial. Invest in state-of-the-art cybersecurity tools like antivirus software, firewalls, and intrusion detection systems to serve as your digital guardians, actively monitoring and thwarting potential threats.
Proactive Preparedness
Craft a comprehensive incident response plan that includes:
1. Communication Protocols: Clearly define communication channels during a cyber incident.
2. Data Backup Strategies: Regularly back up critical data to minimize the impact of potential data loss.
3. Mitigation Steps: Establish procedures to mitigate potential damage during and after a cyberattack.
The Stakes Are High
In 2023, small businesses accounted for a significant portion of annual cyber attacks, emphasizing the need to view cybersecurity not as an expense but as an investment. Cybersecurity is not a luxury—it's a prerequisite for sustainable success. As you navigate the intricate web of business operations in 2024, remember that a secure foundation is key to achieving your goals. Despite the challenges in the digital realm, informed decisions and proactive measures can help your business emerge stronger and more resilient than ever.
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The Top 10 Small Business Trends for 2024
As small business owners, anticipating the shifts that shape success is always on your agenda. In the ever-changing business landscape of 2024, specific trends will be crucial to staying relevant and thriving. Let's recap the top 10 trends that should be on your radar for the coming year:
1. Tech Integration for Maximum Efficiency:
Small businesses are unlocking the power of technology to streamline operations. From intuitive software to smart automation tools, embracing these innovations can enhance efficiency, trim costs, and keep you at the forefront of your industry.
2. Sustainability and Climate Change:
Sustainability is not just a buzzword; it's a game-changer. Small businesses are discovering the benefits of eco-friendly practices, not only for the environment but also for their bottom line. Going green can set you apart and resonate with conscious consumers.
3. Flexible Work Models:
The 9-to-5 office setup is evolving. Small businesses are embracing flexible work arrangements—remote work, flexible hours, and hybrid models—opening doors to a global talent pool while fostering a healthier work-life balance for your team.
Related: A shortened workweek: fad or the future of work?
4. Personalized Customer Experiences:
In an era where personalization reigns supreme, small businesses are customizing customer experiences. From targeted marketing to personalized products and services, understanding and meeting individual customer needs are keys to success.
5. Continued Growth of E-commerce:
E-commerce is not slowing down. Small businesses are seizing the opportunity to reach a broader audience, implement targeted marketing, and offer convenient purchasing options. Investing in a robust online presence is no longer a choice—it's a necessity.
6. Prioritizing Mental Health and Well-being:
A healthy work environment is essential. Small businesses are putting employee well-being first, introducing initiatives like employee assistance programs, flexible schedules, and wellness benefits to create a thriving and productive workforce.
7. Digital Marketing, Content Creation, and Artificial Intelligence (AI):
Stay ahead in the digital era by creating valuable content, engaging with customers through social media, and implementing SEO strategies. Integrate AI to streamline content creation processes, adding a layer of innovation to your marketing strategy.
Related Article: 7 ways how AI empowers small businesses to achieve more in less time
8. Cybersecurity and Data Protection:
In the digital age, safeguarding your business is crucial. Invest in strong cybersecurity to protect sensitive data and maintain customer trust. Shockingly, small businesses, including those with 1,000 or fewer employees, account for 43% of annual cyber attacks in 2023. This data underscores the need for comprehensive cybersecurity strategies to fortify your defence against potential threats.
9. Innovative Payment Solutions:
How we pay is evolving, and your business should evolve with it. Consider offering various payment options, including mobile wallets and contactless payments, to cater to diverse customer preferences.
10. Agile Business Models:
Agility is the cornerstone of success in 2024. Be responsive to market changes, adapt swiftly to challenges, and capitalize on emerging opportunities. Flexibility in operations and decision-making will give your business a competitive edge.
Incorporating these trends into your business strategy isn't just smart; it's the key to staying relevant and successful. Keep these considerations in mind as you navigate the dynamic landscape of 2024.
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