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In March of this year, Jay Baer, Founder and CEO of Convince and Convert brought together his entire virtual team to announce an unexpected departure from the consulting and strategy business. our very successful strategy. With the prospect of a pandemic outbreak, public speaking is in jeopardy for the foreseeable future. Jay repackages and repackages all of our products.
It was a smart move, in that he predicts that our business actions over the next six months will likely determine our direction and viability for the next six years. The same may be true for your business.
In a recent live broadcast, 8 steps to restore customer relationship , Jay recounts his observations and the rationale for our strategic shift. He said:
“The first thing to do is reconfigure your products and services. Do we offer something fundamentally different? Once you've done that, once you've reconfigured, it's time to Repackage Products and Services. So we know what we are going to sell now, which may or may not be significantly different from what we sold before, now how can we buy our products easily than in the current situation. And we spend a lot of time in my own organization Persuasion and Transformation doing just that. ”
Historically, what we sold on the consulting side was strategic plans custom (60 – 90 days to create) provides a great deal of guidance and detail to large corporate clients on how they should improve their social media, content marketing, etc. easy to buy and not easy to deliver. But our observation is that we will have to repackage this as the plans we sell are intended for 18 – 24 – month time. These are the things that we will be recommending our clients to do over the next two years.
No one knows what will happen in the next two years. No one wants to buy a two-year strategic plan right now. Two years is a long time given the current situation. So we perfected our offer structure, cut our prices (because we cut the range) and decided to sell “Quick Wins”. It's the same strategic thinking we've always had in sales, but instead of saying "here's what you should do in the next 24 months", we revolved around "here's what you should be doing in four months." come . “We offer this in 30 days, instead of 60 – 90 days.
- It's faster
- It's less expensive
- It is more suitable
- Easier to buy
- It's easier to watch the end
It has been really successful and has helped our business a lot during this uncertain time.
It's frustrating to see companies not making buying easier right now. They are still throwing silly obstacles in the way of their customers. Cases like you can't return it if you don't like it or the price isn't different from before.
42% of customers refuse or not ready
paid full price since pandemic
You must understand that it can be difficult for your customers, for obvious financial reasons, to transact the way they did before. A survey of marketing executives of major companies reported that 42% of customers refused or were unwilling to pay full price since the pandemic hit. Maybe they can't - they don't have a job or they're downsized - but 4 out of 10 customers can't pay full price.
I'm not suggesting this is about discounts — that's not the point here — it's about finding ways to make your purchase easier than ever.
Maybe that's making it less expensive, making it smaller like we did at C&C, or maybe taking the pain out of the risk and point of view of doubt.
Jay shared this example:
“I bought an outdoor couch a few weeks ago. We're trying to spend more time outdoors because we're not going anywhere on the plane. This really neat start-up makes cool outdoor furniture that's built for the weather, even in a place like Indiana, which isn't known for great weather, but the chair This length is quite expensive. I don't know, it seems like a lot for a couch, but I already have it in my cart, I'm not trading, they sent me an email — drop cart (always a good idea) ) —and say, 'Jay, we want to remind you that we have 365 – same day return policy. ' And I was like, 'dang'. ”
So you're telling me I can sit on this couch for a year? And then it was like, 'No, man, I don't like the couch.' There's a small changing fee, that makes sense, it's a couch, and that's it.
OK. Boom. Checked, take my money. I don't know if that's pre-pandemic policy, but that's what I'm talking about.
Can you make it less expensive? Can you make it easier? Can you remove the doubt from everyone's mind?
Here is the rest of the story
Jay's foresight and seemingly drastic plan to redirect on delivery items is pure genius. Perhaps blatantly obvious in hindsight, but think back to early March; None of us know anything about how this will disrupt business and daily life. This pivot requires agility not only for our operations but also for our customers – existing and newly acquired. People still need agility. The sole decision to retool the company's products, price points, and delivery timeframes is immediate. If you haven't done so yet, it's not too late. This storm is not over yet.
Shortened sales cycle
Another direct benefit is a shortened and easier sales cycle. In the past, high-priced, multi-month commitments often had to be budgeted or approved before implementation. These new, smaller, more tactical, rapid projects are often priced within someone's signing power or discretionary budget. After one has been delivered to the customer, there is usually a second one to track.
Character — Another major element
I don't think you'll read or hear it anywhere else. I heard it, the entire C&C team heard it, and we took it to heart. Jay told us, “Our mission is to keep our clients' business running. If they weren't in business, we would go bankrupt." He told us, do whatever you can, provide Youtility be helpful, even if we don't charge them for our services.
Well, he said, “…even if we don't charge them for our services.” He quickly added, “It would be better if we could charge them…” He plays the long game, the smart game, and the moral game. That's why he prophesied, "The next six months will likely define the next six years for your business." At the time of this writing, we are about eight months old.
React
The 'Quick Win' method worked, perhaps better than expected. As Jay said above, it's still the kind of strategic thinking that customers expect from C&C, but now it's small in size compared to the entire 10 – course meal spread across 18 months.
Quick Wins is designed to be easier to work with the existing staff and resources of our customers, rather than building customers on social media Service Teams. Since specific proposals were completed in 90 – 120 days, that is a manageable timeframe within which immediate actions can be taken and results shared with management.
Apply this to your situation
In hindsight, the formula seems obvious. You just need to read it, in a short article. No need to read books, no need to attend training courses, no MBA required. Check out Jay's full broadcast on 8 Steps to Reviving Customer Relationships . Start there and if you have questions, leave us a note. We're happy to help, even if we don't charge you. 😁
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