COVID-19 has changed the world.
The global response to this pandemic has shut down industries, retailers and companies across the globe.
While some supply chains are still intact, others have been disrupted at the source because many factories in China have been closed.
Shipping companies are also prioritizing their shipments to focus on goods considered as essential while the globe shelters in place. If your business sells products or services considered non-essential, the shipping delays you will experience could be significant.
That’s why now is the time to start your online business or grow your online business with digital products of your own to make it easier for people to purchase from you.
With your own digital products, you don’t have to worry about shipping anything to anyone, and this is the kind of convenience everyone is looking for right now!
Luckily, I created 16 some digital products of my own awhile ago with the help of this fabulous resource.
This course truly changed my life as you can see here.
It allows me to make $35,000+ a month from my online business.
Now let’s find out what are some of the ways COVID-19 will impact your business?
Expect Less Affiliate Commissions
This has already started to happen where tons of businesses have cut back on their affiliate commissions that they once used to offer.
A big example of that is Amazon where they cut down their affiliate commission for furniture and home improvement products from 8% to 3% and for grocery products to just 1%!
Ouch if you are an Amazon affiliate used to making thousands per month. It will be tough to make that money now. Here’s a helpful guide on how to make money from Amazon.
I’m an Amazon affiliate but fortunately, I don’t rely on their affiliate program to make my affiliate income every month but I do know tons of business owners who did.
They are now looking for new ways to substitute that monthly income they lost from Amazon commissions.
There are tons of affiliate programs out there that are much better than Amazon.
Here are some of the ways you can still make thousands from affiliate marketing.
Note: Here’s our FREE affiliate program for you to earn a 40% commission on all my legal templates here.
I do pay thousands in affiliate commissions every month as you can see below, and you can sign up here for my program.
More Safety Checks
The International Chamber of Shipping has published safety guidelines for shipping in response to the COVID-19 pandemic. These guidelines address the seafarers involved in global shipping.
All of the major carriers, such as UPS, FedEx, DHL, and the USPS, have published guidelines to follow when using their services. Many of these websites are updated daily, so the best policy would be to consult your carrier’s website daily for as long as the virus-related restrictions continue.
Expect More Delays
You may want to give yourself more lead time to account for these delays.
All of the sites consulted for carriers indicated that they have suspended all service-level agreements to shipping times during this crisis. Again, check with your carriers daily for the most up-to-date information.
Make sure to keep your customers updated on how these shipping changes could affect your company’s lead times.
Consider Publishing an Advisory Statement
If you have a brick and mortar business then you are impacted the most by COVID-19.
Major retailers like Apple, Microsoft, GE, and others are continuing to update their customers regarding their supply-chain logistics as the COVID-19 pandemic continues.
Other companies, like Domino’s and Papa John’s Pizza, have modified their television advertising to inform their customers of their updated response to the outbreak.
The bottom line is that you need to be honest with your customers.
If you have previously had shipping guarantees, publish a service announcement on your website indicating that these guarantees are not possible at this time.
Don’t make promises that you can’t possibly deliver.
Consumers are already aware of supply-chain issues as Amazon and big-box retailers have already changed their shipping policies in response to the pandemic.
Global shipping has been severely impacted by the COVID-19 pandemic.
Currently, all of the major carriers are still moving packages; however, there is no guarantee that this will continue.
You may have to temporarily switch carriers should your primary shipping partner decide to shutter their doors. Be sure to visit your shipper’s website daily for updates, and then update your customers as things change.
Increase in Online Businesses
It’s not all doom and gloom due to COVID-19. We are seeing tons of new online businesses emerging daily.
So there’s a lot of opportunity for you today to start and grow your online business!
People are getting more comfortable with online learning now, which is great for anyone wanting to create a course or offer any digital product.
Here are some business ideas for you to explore and start:
- E-commerce Business
- Professional services (such as a Freelancer, photographer, and others)
- Virtual Assistant Services
- Live Coaching, Workshops and Speaking
- Direct Sales or Network Marketing
- Subscription Service (think Blue Apron or Netflix)
- Online Education (create courses with this)
- Marketing Consultant or Agency
COVID-19 has made us realize that life is truly valuable. The things that used to sit on the backburner take priority now.
More of us are realizing that life is short and we don’t want to settle for the obvious.
People are also willing to spend more on things that are a “necessity” so this is an opportunity to establish yourself as someone whose products and services are essential.
Overall, this is your golden chance to attract more customers and readers to you and serve them with your valuable skills and experience online.
If you enjoyed this article, here’s another great post on how to start your business legally: Legal Pages And Legal Contracts For All Bloggers And Entrepreneurs
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My freelance writing business has definitely seen an impact. I was on a nice monthly earnings streak that will be broken this month unless something turns around. Time for me to start working more on my blogs I guess! But having an emergency plan is very helpful for times like these so thanks for the tips!
Yes, having an emergency fund/plan is so important so I’m glad you are able to shift your focus. Wish you all the best with your blog!!
COVID19 is definitely impacting all of us. We are all in the same boat. I feel like as long we are transparent about our situations, most customers are very understanding. Great article!
Thank you, Valerie! So true.
My God this is a lot of great resources. I’m signing up for your affiliate program now. This blogging thing is an ever ending learning journey
Oh yes, it is! Glad you are joining our affiliate program and welcome 🙂
Thanks for the post needed some ideas and inspiration for moving forward with an online business during these times.
You are welcome, Hailey! Glad you enjoyed the post.
I totally need to create a course and product. I think it’s probably the best way to earn money considering the changes with some of the other monetization solutions like Amazon are changing now. COVID-19 has really hit my business hard. Love these tips and thanks for sharing!
Thanks, Heather. Yes, creating your own digital products is defintely the way to go right now!
I have seen an interesting shift with my work. My freelance writing business and social media marketing business have both taken a hit due to the fact that so many businesses are cutting back on their spending. At the same time, my Outdoor Travel blog has also taken a big hit. People aren’t all that interested in reading about outdoor travel while they are inside… However, the pet blog that I started recently has been seeing a sharp increase in traffic. People are home with their pets, so they are interested in information pertaining to them. I think it’s a… Read more »
Yes, so true! Sorry, your businesses took a hit but good thing, you are focusing on your pet blog 🙂
I think you made some very good points here – people are turning to online shopping for their needs so there is a huge opportunity for us bloggers to help out our community. Thanks for the reminder to not be discouraged!
You are welcome, Lucy! Glad you enjoyed the post.
Covid 19 Impact Dropshipping and E-Commerce Business !
Thanks, hope this pandemic hasn’t affected your business too much!
Wonderful work! This is the kind of information that
should be shared around the internet.
so that people do their work very easily and effectively.
Bundle of thanks.
You are welcome! So glad you loved the post!