Can we position what we do in a way that is relevant to a problem someone is having right now? Do we know what our customers are facing in these uncertain times?
Operational eats strategy for breakfast
If you have a very strategic product, solution or service and you are communicating a ROI (return-on-invest) of 12+ months – you are in deep troubles today.
In a crisis, companies do not invest in offers that have ROI in the far future. Unfortunately we cannot predict what the future will look like, so an ROI of 12+ months cannot be sold. Not even if we offer it for a 25% discount.
Identify short term values
Your offer might have a great ROI in 12+ months but it also might have values that are relevant today. Does your offer solve a some problems companies have today?
- Can you help solving today’s transport & logistics problems?
- Can you help increasing people’s safety?
- Can you help keeping organizations up and running?
- Can you help offline shops selling online?
If yes, make sure that
- you can deliver within days and not months
- companies can easily buy from you. Don’t overcomplicate your general T&Cs.
- your price reflects this actual use-case (redefine ROI).
- you help the customers to achieve the short-term ROI with your additional “done-for-you” services or support.
- you articulate today’s values, use-cases and benefits and keep long term benefits just as backup for a later stage in the sales process (“also a long term solution”)
Backup 1: Redefine new target segments
You might find out that your offer can not add a lot of value to your existing target segment (industry, vertical, geography, size of companies, …). There’s simply no use-case for today’s pains or it cannot be delivered/implemented that quickly.
But you also might find out that your existing offer would add a lot of value to a totally or slightly different target group even if you don’t have references, success stories or years of experiences in that different target group.
Go after them! If you can demonstrate that your offer is really valuable they will not ask for references.
Backup 2: Create new offers
You also might find out that your offer is helpful but also an overkill for this particular use-case. You cannot sell an enterprise grade eCommerce solution to a small chain of hairdressers.
Splinter your product, create a “light” version or use light weighted technologies instead.
Here’s a guide how to do product splintering – I wrote for a different purpose but it’s also applicable for this case.
PRODUCT SPLINTERING GUIDE
How Software And Services Companies Double The Number Of Mid-Market Customers In 180 Days.
Window of Opportunity
Be quick, the time for maneuvers like this is limited. I hope for you that your re-positioning exercise will become obsolete soon.
If you think you could need some help with that, reach out!
