On-demand Business: From Surviving to Thriving Amid Covid-19
Amidst the world of business and exchange; a sphere of cutthroat competition, it is not the strongest that survive, rather the ones who are most adaptable to change. The year 2020 has been a whirlwind of change with COVID-19 cornering businesses to deal with the economic fallout.
The traditional resilience planning that most business owners have relied on can no longer support them and prepare them for a pandemic. The threat of COVID-19 has been impacting businesses and investors all over the world. The strongest and toughest business leaders are now being put to test with the question:” How to bring a business back in a world where there is no sign of vaccine and the economies are crumbling”.
Smart business owners and entrepreneurs have taken advantage of the ensuing chaos by adopting the on-demand delivery business model. It has resulted in shifting transactions towards digital payments and away from cash — which the WHO flagged as a conduit for the spread of the coronavirus.
According to TechCrunch; Companies including Amazon, Walmart and Instacart have hired more workers to aid with the increased consumer demand across their retail operations. Instacart even became profitable for the first time due to the surge triggered by the coronavirus outbreak. The company sold around $700 million worth of groceries during the first two weeks of April, up 450% over its December 2019 sales.
Also Read: Instacart Business Model and Revenue Streams
How to go from Surviving to Thriving?
So how can Business Owners return from the torment conflicted by the coronavirus? Well if we look at the companies mentioned above. All of them have one thing in common: they have adapted to the changing circumstances and have availed every opportunity to take advantage of the new lockdown sanctions imposed on the community. But most importantly they have adopted the on-demand business model.
Here we will tell you how you can get started on structuring your existing business to be able to deal effectively and efficiently with the current situation. This can be achieved by focusing on the strategic areas like Recovering revenue, Rebuilding Operations and Rethinking the Organization.
Most businesses that relied on the traditional methods are rapidly losing revenues. They will need to reform their revenue streams and change their position to get ahead of the competition. This can be done by shifting towards the digital by adoption of cloud and automation technologies. The best companies are already transforming and expanding their digital channels. By using these channels, they have shifted their revenue streams away from the traditional approach.
For instance, consider an example of a Chinese car-rental company. With the roads empty and consumers not leaving their houses, this means that the company should have fallen apart. However, this company reacted to the onslaught by rebuilding and rethinking as a startup. They discovered that due to coronavirus, the consumers were refraining from using public transport. They used this insight to introduce the “no-touch” car pickup.
This new service employed all the possible safety management techniques and also reassured the consumers about various safety steps the company had employed by reaching out through online platforms. They adopted the on-demand model to reach the customers and began taking orders in no time. Smart businesses all over the world are already implementing this strategy.
The rapid shift in the industry structure, customer expectations and demand patterns ask for an equally dramatic shift in operation strategies to come up with new customer value propositions. Instead of focusing on production and manufacture, the organizational and operational capabilities should be used on fluid communication with the now unreachable consumers.
So now you know what changes you have to implement, you must be asking yourself how you can even begin to reform your business strategy. The answer is by adopting the on-demand business model with the help from ODTap Solutions.
Want to Learn More on How On-demand Delivery Business Works?
Download the Market Study
Also learn how scores of startups made huge fortunes by incorporating ODTap®
On-Demand is the Future
If you are a businessman who wants to adopt this business model that has already helped numerous businesses cope with the sudden change; you should know what the on-demand business model is? The on-demand business model allows the customers to access services without leaving the comfort and safety of their homes. All they have to do is to tap a few buttons and the services or product they require is delivered to their doorstep.
Thus, if you intend to shift your business model towards the on-demand, the question arises: How? Well, ODTap has got you covered. ODTap carries the honor of assisting several businesses to grow into industrial leaders. It has developed, deployed, and delivered unparalleled mobile applications including; Android and iOS Apps.
The ODTap On-demand Platform Solution comprises five major building blocks, with each component offering a wide range of features that can be customized according to the client’s needs and preferences.
- Customer App
- Driver/Delivery Agent App
- Customer Website
- Merchant Panel
- Admin Panel
User-friendly customer mobile app that helps in easy on-demand service booking with only a few taps.
A separate app integrated with commission calculation and viewing driver’s availability status.
A website housing core features helping service agents to manage their profiles, job requests and keep track of previous jobs.
Integrated with wholesale service management tools. It involves Service categories and subscription plans. Interactive Dashboards and tools for catalog management.
Allows complete control of your on-demand business to manage customers, agents, rate, reviews and payments on one window.
Launch Your On-Demand Business Today
Even before the outbreak, negative experiences were a major concern for retailers’ reputation and client relationships. Now, the current events have shifted the attention of retailers, taking them to drastically adapt their business operations on several fronts such as reinforce staff safety, respond to client needs, and reinforce internal operations.
ODTap provides solutions to these problems by using the above components to provide the best on-demand services. It employs features like route optimization and customer management to provide proper monitoring, feedback and communication system.
This COVID-19 pandemic is unprecedented and its consequences may hold sway on our lives indefinitely. Only the smartest businesses and entrepreneurs will survive and they do so by adapting to the change. If you want to be one of those who remain standing, sign up with ODTap for a free discovery call with one of our business analysts.