Crisis Value Proposition – Part 2
Honestly, I have never seen such a worldwide crisis as the COVID19 crisis. Sure, we have the banking crisis, but this is different. The most important difference is that human lives, health is involved. That changes everything.
The economic part of this crisis has way more impact too. Many industries are impacted, and a lot of companies, specifically in the mid- and small size sector, are struggling. In our first value proposition blog, we have shared how companies are impacted, and what they are working on to cope with the crisis, short term, mid-term and long term.
As a commercial agency, we truly believe that investing in marketing, and also sales does help you cope with the crisis, specifically mid- and long term. A question we get is, is my target audience open for contact? Are they ‘waiting’ for my message? The answer is easy: Yes, they are! However,….
Your value proposition
They are only open for your contact if it helps them if that message brings ideas, value, and considerations or perspective for them. It would help if you reached out with a clear and targeted proposition for them. Let me share some ideas from the situations in our last value prop blog.
- Short term (1-2 months)
Well, the short term was all about securing cash and stability. The only propositions you build for cash are financial. For existing customers, you may offer them to postpone payments or services while extending the contract term. You may offer this for new customer as well or divide the one-offs in your pricing across monthly payments. An easy example of continuity currently is the ability to have remote access for employees.
- Midterm (<12 months)
For the mid-term, securing cash, and with that, offering, different payment terms remain valid. Yet, you may also think about propositions that help to rationalize, efficiency and secure income. Your proposition should lead to a positive business case for the remainder of their financial year. Rethink your products and services in terms of your audience and target group. Does your solution help make expensive systems or support abundant? Can you deliver solutions to free up human capacity? Can you help speed up delivery or customer registration processes, or build a healthy funnel with new business leads? Calculate what the investment in Growth Hacking would mean in terms of Marketing and Sales Qualified Leads (MQL and SQL) or even deals. But most importantly, are you able to provide examples or use cases? And, make it financial! Share a business case that will provide a profit within months. And show proof.
- Long term (1-3 years)
How does your solution provide scaling, and why should they consider going forward with this now? One thing is sure; the economy will catch up again. Can you provide solutions that within one click deliver scaling, without adding too much or even no costs? Such a platform, automation or solution is worthwhile for companies to invest in now. Their return should be much higher for the long term as opposed to the investment now. Think of automating the complete delivery of customer services or start building a brand or online presence in a specific market that is expected to grow fast after lockdown is over.
Stand out in sincerity
The most important proposition you should work on is your sincere thoughts about their situation, market and values. Do not spam with features or hollow values like, ‘let’s grow business together’. Show that you do understand what they are working on and show the perspective of how your solution adds value to them.
Rewrite your proposition to their situation. Are they in survival mode, or in upscaling mode? And again, monetize your solution. Show where you think you can add financial value, and as a last suggestion, why wouldn’t you relate to part of your income with the financial gain you offer?
Want to learn how we combine our income to the results we bring, or how we advise our customers to do this combined with the cost savings they will bring?