A company before Covid-19 will not be the same afterward. This situation is teaching us that the only way to survive is to innovate and learn to adapt to the situation so as not to die.
Consumers will not be the same after a pandemic either. People who were not already doing so have now realized the importance of connectivity.
Pandemic = An Opportunity for SMEs
Fortunately, we live in times when digital media allow us to stay connected. SMEs could be the first companies to go bankrupt; however, they enjoy a great advantage.
Large corporations do not have the ability to move and take action as quickly as an SME can to change their business model and make it work. Heads up: Get creative.
Here are 5 examples of Mexican companies that managed to adapt to the situation.
We hope they serve as inspiration:
1. Ben & Frank
This very innovative company, known for its affordable, modern, and quite popular eyeglasses, had to close all of its stores. However, that did not stop its customers from continuing to discover its new models and even trying them on from the comfort of their homes.
They introduced their new eyewear models through an Instagram filter. With "The Virtual Glasses Fitting Room," you can try on the glasses and change the color and model, and if you like them, you order them, pay online, and receive them at home.
2. Hanky Panky
One of the coolest underground cocktail bars in Mexico City. It has no sign, and you will have a hard time finding its address on social media. The entrance is secret: the door of a beer fridge inside a quesadilla stand. (Yes, it is real, and when the quarantine is over, you should check it out.)
This fun business model had to close its doors because, unfortunately, it is not considered an essential business. But don't panic. You can order your favorite cocktails delivered to the comfort of your home in very convenient, ready-to-serve packaging.
You can even join one of their live streams and take a masterclass in mixing drinks.
Facebook/HankyPankyDF
3. Palominos
If you are a connoisseur of good beef, you surely know this place. It is one of the best restaurants serving Sonoran-style beef. They did not want to be left behind, and in addition to offering their dishes with home delivery, they decided to give consumers the chance to live the experience of being a true grill master.
If you have a grill at home, you can order one of their grill kits: you take care of grilling the meat and pair it with the delicious flavor of all the sides you can normally enjoy at the restaurant.
Tip: If home delivery was not part of your pre-Covid plans, now is the time to start. You do not need to invest; try signing up with one of the apps such as Uber Eats or Rappi. I assure you that you will get your name out there, and your business will even gain new customers.
4. Fit Studio
It is not a regular gym; it is a much more fun one. This gym, with locations in San Luis Rio Colorado and Mexicali, offers the famous Jump In classes (on individual trampolines). There was no way they were going to let their equipment gather dust and cobwebs until the quarantine ended.
They were prepared with a platform that, for a very affordable monthly fee, offers online classes that women all over the world take at home. They took action right on time and decided to rent out their equipment and motivate users to make the most of their time at home.
5. Xcaret México
You surely know this world-famous and spectacular water park in the Riviera Maya, an experience you should definitely have once in your life. Well, Xcaret is also famous for its Night Show. It represents the states of the Mexican republic, and if it does not give you goosebumps, you have no feelings.
They decided to give people a little taste and stream the night show on their social media. Maybe you're thinking... “well, that's cool and all, but they didn't generate any revenue.”
You are right, at least they did not generate revenue at that moment, but you surely ended up with a huge desire to experience it. Staying top of mind with consumers during this season can be extremely effective.
These are just a few of the many innovative Mexicans who refuse to let a pandemic defeat them. Take action, evolve, and leverage digital media to maintain and create a connection with your target audience.
Focus on transforming your business and stop thinking about the economic crisis.
Here are a couple of tips to motivate you a little more:
- Study your consumers' behavior. Anticipate their concerns, needs, and demands.
- Building community and understanding the value of emotional closeness with your users is very important right now.
- If you still do not know how to innovate, use this time to improve your skills and design new products and services so you are better prepared for the eventual recovery.
- Look to build synergy with partner businesses; ideas can be more effective when two work together.
Never stop innovating.
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