Overcoming the Coronavirus crisis
The fight against the corona pandemic confronts the world with enormous challenges and turns the state of emergency into a normal state. Pandemics and the resulting economic crises will hit the world several times in the future. Although they are very different in their origin, they all follow a similar pattern in the end.
Companies in crisis have one or more of the following points:
- declining turnover…
- more customer complaints
- shrinking liquidity reserves
- unpunctual bill payments
- Loss of regular customers
For a better company organization in the next crisis, we give you 4 tips on how to overcome the crisis and how to adapt your company perfectly to the new working day.
The lack of financial profits despite ongoing expenses can lead to financial difficulties. In such phases, the scope for action is extremely limited. Good liquidity management, strategic corporate governance and good cost management are therefore very important, especially in times of crisis.
Analyze and know the target market
In order to implement efficient strategy planning and a good crisis management concept, it is especially important to know your target market and target group very well. This is especially important in times of crisis, be it due to corona or other economic disruptions. This promotes a quick and effective adaptation to new circumstances. In such times, a quick reaction is important in order to stand out from competitors and to successfully maneuver your company out of the crisis.
The crisis can also be used as an opportunity for a strategic realignment of your company. For example, the newly developed or expanded internationalization of your company can open new markets and acquire new customers. Internationalization is one of several interlinked processes in connection with building a global presence.
There are different internationalization strategies, whereby language is always an important element. There are more than 5000 languages in the world and different countries have different cultural conditions. If your company is expanding abroad, it is very important to be aware of the specifics of the target country.
The communication internally, as well as with investors, customers, suppliers, and partners must of course also or especially in times of crisis function smoothly. Especially then, transparent communication and above all a good internet presence is very important, as well as a targeted marketing strategy. In times when digitalization has advanced faster than ever before and people spend more time at home at the computer, a good social marketing strategy can be essential.
At Smylingua we specialize in simplifying the communication between you and your business partners. It is important to us not to offer word-for-word translations of your marketing campaign or documents, but to adapt the translations to the different cultural conditions and country-specific target groups. Furthermore, Smylingua has specialized in SEO adapted translations. Search engine optimization is the process of optimizing your website to achieve a good search ranking when the desired users search for specific products or services on a search engine such as Google.
Finally, it is important that you make sure that everyone in your company is doing well and that security measures are put in place to protect your staff and customers.
To do this, it’s important to find ways to reach all employees, contractors, and customers – no matter where they are or what language they speak.
In doing so, Smylingua will actively assist you and support you in all your translation work.
Do not hesitate any longer and contact us today by e-mail at email@example.com or call us at +33 1 76 43 32 76.
For more information you are welcome to read our other articles about:
- With Smylingua to success
- Social media posts: How to translate them correctly!
- Multilingualism in the European Union – the importance of translators and interpreters
- English only – Does a translator have to know other languages?