Getting back to business after the Covid-19 lockdowns
Covid-19 has been affecting lives and economies across the globe. In addition to the unfathomable loss of life, there has been an immeasurable loss of livelihood, too. Many businesses have lost clients, revenues, and have had to cut jobs and budgets to stay afloat. And, sadly, many enterprises have had to close shop. However, those businesses that will make it out the other side are now facing the challenge of navigating this post-lockdown world.
Recovering from this lockdown will not be easily or quickly achieved. Businesses can equip themselves to rebound faster by investing in discovering, defining, and refining their brand stories during this lockdown.
We have put together four steps that your teams can follow to help them come up with a story that could make a faster recovery:
- Analyze the clients who stayed
- Define the customer problem
- Plan out success for customers
- Create a consistent pitch
Analyze the clients who stayed
Many businesses are dealing with clients terminating contracts, deals falling through, and projects going on hold. As frustrating and worrisome as this can be, you may also have clients who want to renegotiate contracts, want a temporary discount, or an extension to their credit period. While it is easier to focus on the lost revenues, the second group is a vital metric for your business' survival after the lockdown.
By understanding why these clients stayed, you can discover your most compelling value proposition to help win new clients when the markets open. Do not make the cardinal mistake of writing off these loyalists as financially secure customers who can continue paying your fees despite the global economic slowdown (those do not exist).
Define the customer problem
With a clear picture of your audience in mind, start defining the problem you solve for them. When doing this, focus on the frustrations and annoyances that not having your product creates for the customer. Often, it is the collection of daily frustrations that ignites the buying process.
For example, nobody buys a CRM software because they want to have a CRM in the company. They are frustrated with missing their revenue targets, losing deals, or having annoyed and dissatisfied customers. Or maybe, you sell kitchenware. No one buys kitchenware for the sake of owning containers. Instead, they buy it because they are frustrated with the clutter in their kitchen, having food spoil, or spending too much time looking for ingredients.
When we speak to our audiences frustrations, we create a human and emotional connection that builds trust. We are more open to trusting people who empathize with us versus people who are trying to sell us.
Plan out success for customers
Now we know how to get the attention of our audience! We need to transition them from problem to solution. Walk them through that transformation by explaining how your product/service addresses and overcomes their frustrations. Give them 3 or 4 steps to go from exasperated to ecstatic.
Try to showcase the post-purchase value your product or service will be creating. Circle back to the frustrations they felt and how all (or most) of these will disappear.
Create a consistent pitch
Finally, invest time to synchronize your marketing collateral. Use online channels like Google Ads, social media, and your website to draw in the right audience (by giving them the right message). From first contact to contract signing, make sure your team is reminding the customer of the frustrations you are helping them overcome.
Use these four steps to kick-start the engine of your business once the Covid-19 lockdowns end. Treat this slowdown as an opportunity to attend to all those business strategy decisions you have been putting off because of too much work.
#staypositive #staysafe
** BONUS **
We are offering a free consultation to have your marketing collateral (especially your sales presentations) reviewed by our team of presentation gurus. Drop us an email to [email protected] to get started.