When a crisis “changes everything” for one’s business, then what?
It’s easy to panic. What do we do? How do we keep functioning, keep our business viable?
Focusing on one particular “end result” will put everything else into perspective, answering all other questions.
The “end result” focus point: be useful and relevant.
“But, how do we do this,” you ask? “In what ways?”
Well……You are experiencing change and anxiety? So are your clients. So are potential clients. Solving their needs is the answer to your questions about how to get through this time.
- “Reach out and touch someone.” Remember that old telecom commercial? It applies today. Contact your clients. Find out from them what they most need. Find out how and why they need it (perhaps they need some flexibility in service/product delivery at the moment or they have circumstances you aren’t aware of) – focus on that. Figuring out how to meet their needs will inform how to manage your own internal resources.
- Who else has needs can we satisfy, both during COVID-19 and in the future? What emerging market needs are out as a result of COVID-19? Which ones can your company’s capabilities can support? Just as Zoom and other online meeting platforms are meeting a suddenly-increased market need, there could be other emerging market needs for which your products and capabilities might be useful. Time to look at the Four Ps from marketing (product, price, place, promotion) – toss in a look at your capabilities – and look at matching up your products and abilities with emerging market trends and needs.
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Kim Burkhardt is a market research and competitive intelligence consultant at Burkhardt & Co.