Everything’s changed. How can our firm get through this and succeed going forward?
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?
Be useful and relevant to your clients. They are also experiencing anxiety and change.
“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 emerging as a result of coronavirus? Which ones can your company’s capabilities support? Just as Zoom and other online meeting platforms are satisfying a suddenly-increased market need for online meetings, 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.
- What can our firm do to calm people’s anxiety? Both clients and potential clients will positively remember a firm who can help relieve their nervousness during this time. Whether you reach out to offer social condolences or offer a product/service that meets people’s needs, people will appreciate you.
Need assistance looking at emerging market trends?
Give us a call. We are in this together. Burkhardt & Co. will work with you, delivering your market research needs. Investigating market trends, understanding vague or emerging market or economic topics, studying industry dynamics, finding solutions to company-specific challenges, planning future stages of business development…. We are here to help.