June 9, 2021 5 min read
Opinions expressed by Entrepreneur contributors are their own.
It’s been incredibly interesting to watch just how the world has responded to the Covid-19 crisis. Some businesses and individuals didn’t seem to respond or pivot at all, but a select group of companies figured out how to not only stay afloat, but also thrive in the midst of this pandemic.
These companies, the successful amidst the chaos, act as a compelling case study for many economists around the globe (since this is truly all unprecedented), and for myself. I’ve been looking at the companies that have actually grown during Covid-19, and I dug into just how they’ve been able to do it. Hopefully, this insight will help you in your entrepreneurial endeavors, and perhaps it will infuse a little bit of life and light into your business during this seemingly dark time.
Food-delivery services
While takeout and delivery have existed for a while now, they didn’t quite hit their stride until Covid-19 blew through the world. Before the pandemic, companies like GrubHub, DoorDash and Uber Eats were merely conveniences — not seen by many as an efficient way to purchase their food. However, these companies were able to change that.
Once the pandemic hit, these companies quickly pivoted their marketing and changed their verbiage to reflect safety. While other companies quickly pulled back their marketing spend, these three increased theirs, targeting people who had to stay home. They changed their messaging to contactless delivery, and this idea created, in all three companies, a substantial upshot in usage and customer base.
Related: Ecommerce and Food-Delivery Jobs Growing During Recession
Additionally, some of these companies made deals with restaurants and other ecommerce giants to make delivery more affordable and extend their reach and influence into new customer demographics. They made their service feel completely necessary, and that need drove traffic and sales, and increased customer loyalty.
Their ability to pivot not only boosted their bottom line, but also created more jobs for those who may have lost theirs. All in all, these food-delivery services figured out how to position themselves as a much-needed service, rather than just a convenience, and that made all the difference.
Zoom
Many tech companies seemed to thrive during the pandemic, but none quite as well as Zoom. This became a necessary platform that businesses had to use in order to keep functioning. Zoom, in an incredibly intelligent maneuver, lifted the limits of its free usage in different parts of the globe for educators and others. This brilliant marketing move drove more people to the platform than ever before, and Zoom was forced to seek more investors, expand its workforce and increase its marketing efforts.
Related: Zoom Is Killing It Financially, Thanks to Remote Work
Daily downloads of Zoom increased nearly 30 times over what they’d been in the past, and this number stayed consistent for months. It was this one seemingly small move that helped Zoom maximize its appeal and usage. Now, you could argue that Zoom is a necessity in this time, and that’s why so many people are using it. But Zoom isn’t the only video-conferencing platform available for free download. Zoom quickly and correctly positioned itself as the software you must have in order to keep your business moving forward, and at the same time, it gave back to a community in need.
Pharmaceutical companies
Say what you will about the vaccine, but there’s one truth that you cannot deny: The speed at which pharmaceutical companies produced the vaccine was unbelievable. The scientific world’s ability to pivot and innovate has come a long way since the days of the polio vaccine, which almost took 40 years to develop successfully. The mumps vaccine took four years to develop, but the Covid vaccine took less than a year from its inception, to production, to its widespread distribution.
While such speed has led to a little vaccination doubt, we should all be impressed by the medical world’s ability to pivot and join forces. As soon as the pandemic hit, new relationships were forged, the sharing of information and research was increased, and the entire world began assisting in the work of vaccine creation and distribution.
Related: Meet 12-Year-Old Samuel Keusch, aka The Vaccine Helper
If one lesson can be learned from the vaccine’s creation, it’s this: When crisis strikes, quick and efficient group think can be life-saving for your business. With a central problem to solve and a group of individuals working in tandem, incredible ideas can be conceived, and miraculous things can happen.
This article is from Entrepreneur.com
