Frankly, I have never seen such a global crisis as the COVID19 crisis. Sure, we had the banking crisis, but this is different. The main difference now is that human life and health are at stake. That makes everything much more personal and changes everything.
Global impact
The economic part of this crisis also has much more impact. Many industries are affected and many companies, especially in the small and medium-sized business sector, are struggling. In our first value proposition blog, we shared the short-, medium- and long-term impact of the crisis.
As a commercial consulting firm, we truly believe that investing in marketing, as well as in sales, helps you cope with the crisis, especially in the medium and long term. One question we get is, is my target audience open to contact? Are they waiting for my message? The answer is simple: yes, they are! However,….
Your value proposition
They are only open to you if it helps them. If you message them bring ideas, value and considerations within their perspective. It would help if you would come up with a clear and focused proposal for them. Let me share some ideas from the situations from our last Value Proposition blog.
- Short term (1-2 month(s))
In the short term, the main concern is to secure cash flow and create stability. The only propositions you can offer must have a financial rationale. An underpinning that provides immediate money. So no difficult ROI calculations that it will make money in the future. For existing customers, you can offer them to defer payments or services while you extend the contract term. You can also offer this for new customers or divide the one-time payments into monthly payments. A simple example of continuity right now is providing remote access for employees. - Medium term (<12 months)
For the medium term, securing cash, and thus offering different payment terms, remains necessary. But you can also think of proposals that contribute to rationalization, efficiency and securing revenue. Your proposal should result in a positive business case for the remainder of the fiscal year. Rethink your products and services in terms of your target audience. Does your solution help make expensive systems or contracts obsolete? Can you provide solutions to automate business and reduce human interaction? Can you help speed up delivery or customer registration processes? 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, can you give examples? And, make it financially attractive! Share a business case that is profitable within a few months. And show proof. - Long-term (1-3 years)
How do your solutions provide scaleand why should they continue to do so now? One thing is certain; the economy will catch up again. Can you offer solutions that deliver one-click scalability without adding too much cost? Such a platform, automation or solution is worthwhile for companies to invest in now. Their long-term return should be much higher than the investment now. Consider automating customer service or begin building a brand or online present in a specific market that is expected to grow rapidly once the lockdown is over.
Standing out in sincerity
The most important proposition to work on is your sincere thoughts about their situation, market and values. Don’t spam with features or hollow values like “let’s grow together. Show that you do understand the situation and demonstrate how your solution adds value.
Rewrite your proposition to suit their situation. Are they in survival mode, or scale-up mode? And again, make sure your solution makes money immediately. Show where you think you can add financial value, and as a final suggestion, why not tie a portion of your income to the financial gain you offer?
Want to learn how we combine our revenues with the results we deliver, or how we advise our clients to do so in conjunction with the cost savings they will generate? Make an appointment.Crisis Value Proposition – Part 2
