Think outside the big box: What SMBs can learn from leading retailers' COVID-19 response
COVID-19 has made all businesses—no matter the size—reconsider how they attract and retain their customer base.
Some big-box stores have been quicker on their feet than others in responding to the crisis. The credit, in part, goes to the marketing and customer experience strategies implemented beforehand, and the agility to react to rapidly changing customer needs during the crisis.
Meanwhile, small and medium-sized businesses are having a more difficult time pivoting with fewer resources, short staffing, and smaller budgets.. Despite these limitations, SMBs also can be more nimble and have a greater chance of recovery once the risk from the virus subsides.
In some ways, it’s easier for smaller and medium-sized businesses to do what big brands are able to do; for example, a small business can test different channels for customer engagement and make their customer experience highly customized, instead of being held back with generic, one-size-fits-all solutions.