5 Steps for Navigating Software Businesses in a Post-Covid Era

The world has become a place that nobody had ever imagined a year ago. The outbreak of a virus has brought the working of many businesses, shops, and entrepreneurs to a standstill. Widespread shutdowns of businesses to control the pandemic have caused a decline in aggregate supply while the reduction in consumption and investment has resulted in demand decline.

However, Covid-19 has caused lifestyle shifts that have opened new markets and sales prospects.

Blooming industries

Adaptability and creativity are playing major roles in saving businesses during the pandemic. Any inflexible response to lockdown and slowdown has been met with slow sales or no sales. While the effects of the pandemic are continuing to be a big problem across the globe, some businesses have figured out a way to make the current circumstances work for them. Some are even thriving. Surely you have been using more of such products and services during past months as:

· Personal protective equipment, cleanliness products, other pharmaceutical products;

· Online meeting, dating platforms;

· Cybersecurityproducts;

· Online shopping and food delivery;

· Online teaching platforms, e-learning resources, and classes;

· Online fitness, entertainment streaming services;

· Video games;

It is clearly seen that almost all of them provide remote or online services. Just like any other business industry, the IT sector too had to go through its ups and downs to survive with the current market situation, but it has been much easier due to increased demand.

In fact, after the second quarter of 2020, cloud IT infrastructure investments increased by 35% year on year. As a result of the pandemic, with its widespread demand for video communication and home office applications, the IT business prediction is clear. Our future requires more dynamic changes than simply apply digital technologies to do what we have always done, faster, cheaper, and now safer. So, the demand for software, cybersecurity, app, and game development products, etc. will continue to increase letting the IT sector benefit from the current situation and further.

But does it refer to all companies?

Despite this year’s reset, many companies still base their business models on yesterday’s logic; they rely on improvements that in reality only scratch the surface.

According to the latest questioners, 80% of executives think their companies’ business models are at risk; while 60% of companies that have successfully undergone the digital transformation say they have adapted completely new business models.

Some experts are also of the view that there is still time for entrepreneurs to act faster in the second half of 2020-first half of 2021, but this time with more consciousness, awareness, and dedication to finding out new ways even amidst the pandemic, for ultimately reaching their goals and revenues.

To not let your competitors do it first, we need to challenge our basic assumptions about how to create, deliver, and capture value. Consider the following 5 steps that you can implement and use to grow your software business in the post-COVID era.

1. Offer the feeling of safety for your customers

The lesson here is to actively seek ways to make your product and business pandemic-proof by increasing healthy options and alternatives. While the stores are full of self-protective and cleanliness products, people subconsciously still search for mental safety even more.

How to provide it? If you’re a protein brand, introduce a new line that provides an immunity booster and allows people to order online. If you are a software company, create an online community and change your marketing focus to promote positive mental health amongst your customers. DuringCOVID-19 a pandemic, it will benefit your business and really help people improve their wellness. Today’s consumers choose brands that show they care about public needs and health. And once you prove it to them, they will stay loyal to your brand.

2. Create an online network using LinkedIn

Many companies have already learned the lesson about the importance of networking in the pandemic era from their sad experience. It is essential to be able to stay connected with partners and other industry colleagues through medium platforms like LinkedIn or Lunch Club whatever happens. In this way, you can find new partnerships, exchange more ideas and strategies to make a powerful comeback in the market even during the quarantine. Furthermore, you can attract new customers and employees there, just try it out.

3. Create a personal brand that sells your skills, not appearance

Whether you want it or not, people make up a particular picture of you in their minds. They judge you based on your character traits, looks, actions, and, most importantly, their experiences with you.

Personal branding goes by different names like self-promotion, individual branding, and many others. But all these refer to the same thing — establishing a desirable image or impression of yourself in people’s minds.

This process implies managing your interactions with people and probably having a meaningful impact on their lives. The personal brand must speak loudly not only about your software products, but your attitude, special skills, and what you and your company are all about in the way that makes people desire you. This can be achieved through social networks, giving constant feedback to your customers, and a clear understanding of what you want to transmit to the world together with the personal brand you create.

4. Use more social media platforms initiatives

Since the world is aware of how digitalization is the only option right now for many to maintain their businesses, it is essential to know and utilize social media platforms for marketing, advertising, and sales as well. It is the time for software businesses to boost their presence in companies’ social media pages and bring in a new wave in marketing.

However, as is always the case, you need to consider the other person’s — in this case your customer’s — needs above your own. If you can do that well, you will accomplish what you set out to do. Being secure about how to use the necessary tools behind the passion for the actual work is also essential to your success. And this is what the next step is about.

5. Create content based on your passions

Whatever your company creates, cloud-based software or games, show the passion for what you do. If you make the decision not to write the content yourself but to get someone else to write it, ensure that the writer has nearly the same amount of passion for the material that he or she will be writing. If the content creator likes the material on which he or she is writing, the readers(your potential customers and partners) will know.

You can develop platforms like TikTok to its full potential by posting content about your team, how they started their journeys, and share their passion and success.

But again, it is important that it is only when you combine the tools and the passion that you are truly successful. It is your passion that makes the difference between producing mediocre work and work that knows no bounds.

To conclude

The global COVID-19 pandemic has forever changed our experiences―as customers, employees, citizens, humans― and as a result our attitudes and behaviors too. Companies shall consider the impact of these changes on the way we design, communicate, build, and run the experiences that people need and want. However, even in these hard and changing times, there are businesses that are thriving, and so can you. Creativity and passion are a necessary facet of your work. Once this understanding comes to you, you are ready to take chances.