Identify what you can sell in the COVID Recession
•
1 like•378 views
In any recession demand for certain types of products and services goes up. And others go down. Similarly some clients are less impacted than others. A few may even have increased propensity to buy. This deck shares a simple DIY template to identify which of your products and services can do well, and which of your clients would be interested in buying what. The author has based this on her experience with the IT industry in 2001 and 2008. But it can work for any industry as the domain knowledge is yours.
Recommended
Recommended
More Related Content
Recently uploaded
Recently uploaded (20)
Featured
Featured (20)
Identify what you can sell in the COVID Recession
- 1. Jessie Paul Covid Context & Recession Ready Mapping your offerings
- 2. A cost-efficient marketing program Cutting the flab, not muscle • Reach out ONLY to the clients most likely to buy • Present the offerings most likely to be acceptable • Ruthlessly cut spend on everything else • If your organization needs cash flow, focus on short-term wins for survival rather than longer term brand investments.
- 3. Which offerings are recession ready? What does history say clients look for? Cut costs Postpone cash outflow Increase short term revenue Decrease fixed costs Reduce cost of sales Survival Compliance
- 4. And what is the COVID Context What new priorities will emerge till a vaccine is found and beyond? • Avoid personal contact • Derisking dependence on travel & transportation • Derisking the need for large groups in close proximity • Derisking supply chains • Sanitation • Building up immunity - short term & long term
- 5. Map your products & services Recession Relevance Attributes Attribute Offering A Offering B Offering C RECESSION RELEVANT Cut costs Postpone cash outflow Increases short term revenue Decrease fixed costs Reduce cost of sales Survival Compliance
- 6. Next up, COVID Context Can your offerings help with this new priority? COVID CONTEXT Offering A Offering B Offering C Avoid personal contact Derisking dependence on travel & transportation Derisking the supply chain Derisking the need for large groups in close proximity Sanitation Building immunity
- 7. Map Your Portfolio Pick the most relevant quadrant for each offering based on how many attributes in each table you were able to select
- 8. Halfway through! You’ve got this.
- 9. Map Your Clients Based on how they are impacted map your clients on to this chart. Their quadrant will determine their propensity to buy
- 10. What to Sell to Whom? Mapping your offerings • From the product assessment quadrant, the offerings in Quadrant 1 & 2 should be marketed to everyone. • Products in quadrants 3 & 4 which might see lower off-take in a downturn can still be relevant to those in Expansion Mode and the Careful Optimists. 1,2 1,2 1,2 1,2 3,4 3,4
- 11. The Right Response Can Save Businesses Recession Relevance & COVID Context are key to understanding • One size never fits all, but in a downturn careful selection and crafting of clients can save you loads of marketing expense and perhaps help with survival. • If you’d like to bounce off your maps with me, send them in confidence to jessie@paulwriter.com
- 12. Stay Strong. Stay Safe. www.paulwriter.com AMSTERDAM. BANGALORE.