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Grow

27 May 2020 by Steven Giannoulis

Unless you are a courier company, supermarket, hand sanitiser manufacturer or a similar business that prospered under Covid-19, at Level 2 your business is back up and running but facing reduced revenue. You’ve...

Business Recovery
grow steven giannoulis

unless you are a courier company, supermarket, hand sanitiser manufacturer or a similar business that prospered under covid-19, at level 2 your business is back up and running but facing reduced revenue.

you’ve survived lockdown but the revenue reduction over the last two months will be more noticeable in your bank account this month. the business might be okay for a while but it can’t maintain reduced revenue forever. without getting sales levels back up, the only alternative will be cost cutting. the challenge is many of your customers are also cutting back to deal with their own new situation.

in this blog we explore ideas to help you grow revenue by engaging with existing customers and using your learnings to attract new customers. we also offer you a unique opportunity to engage us, for free, in any issue your business is currently facing.

your b2c customers are more than likely re-evaluating their priorities as they work out how to adjust to a new reality. changes in their and their family’s work and financial situations, plus the fear of what may be ahead, will be driving their priorities. disruption in their routine may also be contributing to changing preferences and spending behaviours.

your b2b customers are likely to be going through similar circumstances to you. they’re facing uncertainty and disruption and looking for ways to kickstart their business and cashflow. work out how you can best help them. often this is as simple as a quick call or email asking them how.

actively supporting their business to get going again will provide both short- and long-term benefits for your business. offer existing customers any support you can, even if it’s for free or at heavily reduced rates. support them with advice, tools and initiatives that allow them to generate revenue, to engage their customers, or to make savings. what you invest now in your customers will be repaid in loyalty. and customer loyalty is the foundation for your long-term growth plans.

while your customers are thinking about their current situation, they also have one eye on the longer term, considering how covid will change their business forever and what they need to do to adapt. this may mean a different range of products and services, new price points and distribution channels, a new operating model or new marketing strategies. help them plot the future by being a sounding board, providing ideas and helping them advance their thinking. re-establish your role as a trusted partner in their new value chain as soon as possible, by offering new and modified products, services and support packages.

one of the benefits of starting with existing customers is understanding them gives you some insights into what similar customers may need. the process of attracting new customers starts right here.

like existing customers, uncertain times will see new business prospects needing to take action but unsure of how to go about it. this opens the door for new suppliers who can show an appreciation of the situation and can provide accessible answers that give a customer a sense of moving forward.

what your existing customers are thinking, saying and doing is a start but don’t fall into the trap of thinking everyone is in the same boat. take a wide view and consider how the last few months may have changed consumer preferences, shopping patterns and behaviours, communication channels, or preferred ways of interaction. who do these changes benefit? ask and answer these questions in the prospecting process to gain understanding, to add value and to uncover new business opportunities. 

all change reveals opportunities but it may take time for prospects to take their eyes off what they’re missing and to focus on what’s ahead. as with existing customers, invest in helping them get there quicker.

 
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at insight creative we're adapting how we work with our clients to better understand and respond to what’s changed for them. as a result we’re listening and offering strategic and creative ideas that will help them adapt to life in in their new world.
 

give us one hour to learn more about the new challenges and opportunities facing your business in level 2 and beyond. in return, we’ll give you three strategic-creative ideas to help you address them.

no charge. no obligation. get your boss, your peers and your team together and let’s talk about how you’ll adapt, grow and thrive in your new new zealand.

 

 

Adapt

20 May 2020 by Steven Giannoulis

ADAPT [uh-dapt] (verb). To adjust to the conditions or a new environment. To fit, change or modify something to make it suitable for a new use, purpose or situation.   For many of us, we’ve now...

Business Recovery
adapt steven giannoulis

adapt [uh-dapt]

(verb). to adjust to the conditions or a new environment. to fit, change or modify something to make it suitable for a new use, purpose or situation.
 
for many of us, we’ve now returned to the workplace and have a new set of behaviours we need to adjust to. some customers are returning and we’re starting to appreciate how different the new business environment is. it’s time to figure out what the changed world means for us and how we can best acclimatise to it.
 
in a rapidly changing environment, with tough financial conditions, we advocate a proactive approach, actively seeking to anticipate change and to take action. in uncertain times, the easy option is to wait for more information before acting, but this may be too late for some businesses. in this blog, we explore four directions to help you consider ways to adapt to the new world we live in.
 
 
start with you. what have you learnt about yourself over the lockdown? were you more productive working in isolation? or did you find yourself missing the energy of those around you? did you rethink your priorities and form new habits that improved your effectiveness and wellbeing? think about the things that worked for you in lockdown and now consider how you carry them forward to the new ‘outside’ world. maybe it’s working from home more often or making time every day to exercise or connect with the people around you. what stopped you doing these things before? many of these ‘barriers’ were your own mindset but the situation led you to overcome them. resolve to make permanent change and then set up the structures that let these changes become your new norm.
 
 
lockdown came suddenly and we responded with quick decisions and actions. some worked and others didn’t. use these three questions to lead a ‘lessons from lockdown’ discussion with your team, capturing the learnings to bring back to the workplace:
 
what new things did we introduce during lockdown that worked well? for example, zoom or teams collaboration, cross-team initiatives or cross-office online drinks. are any of these worth carrying on with?
 
what did we do differently during lockdown that we should keep doing? working effectively from home for example, or reducing travel through online client and team meetings.
 
what did we stop doing during lockdown and shouldn’t restart? many of our regular processes and routines were sidelined during lockdown. these could be tasks we normally did, reports we produced or approvals we obtained. why re-introduce them?
 
 
take a moment to think about your customers and their world. what’s changed for them and how will that change their mindsets, priorities and actions. firstly, consider volume. will they do the same, more or less business with you and what will this mean for your resource levels? will their priorities change, leading to a new product set or a changing emphasis on quality, price or service? will they want to interact with you in different ways? form a view on what future business may look like. how you can modify your operating model to accommodate.
 
but what if you’re not sure how your customers will react? reach out and show them you understand their world has changed. ask them how you can help. there’ll never better time to engage your customers in these conversations.
 
 
many things in the world around us have changed – some temporary and some for good. consider how they’ll impact you and your business. as a society, it will take some time to feel safe again, especially in mass gatherings and close contact situations. will this change how consumers engage with you, or your customers, and the products and services they’ll demand? over recent years consumers have looked to business to take an active role in making the world a better place. this is likely to escalate. how will you respond? a surge in kiwi pride should see more kiwis supporting local business, especially those businesses that are themselves supporting locals. what opportunities and challenges does this offer your business?
 
 
________
 
at insight creative we're adapting how we work with our clients to better understand and respond to what’s changed for them. as a result we’re listening and offering strategic and creative ideas that will help them adapt to life in in their new world.
 

give us one hour to learn more about the new challenges and opportunities facing your business in level 2 and beyond. in return, we’ll give you three strategic-creative ideas to help you address them.

no charge. no obligation. get your boss, your peers and your team together and let’s talk about how you’ll adapt, grow and thrive in your new new zealand.

 

Adapt, Grow, Thrive

14 May 2020 by Steven Giannoulis

  Today we move into Level 2  and begin the process of resuming life, and business, post the Covid crisis. With so much disruption and uncertainty, how do you begin to make sense of the road ahead to...

Business Recovery
adapt, grow, thrive steven giannoulis
 

today we move into level 2 and begin the process of resuming life, and business, post the covid crisis. with so much disruption and uncertainty, how do you begin to make sense of the road ahead to prosperity? 

what we can be certain of is that a post covid-19 new zealand will be a very different world to what we knew before lockdown. a kinder and more caring place, maybe. a much harsher economic reality, definitely. many things will never go back to where they were. the way we interact with each other. our priorities. our definition of success.

 
in this new world, the companies who’ll prosper are those who focus, not on going back to where they were, but on embracing the new future ahead.
 
as a creative-thinking business, our success has always been driven by helping our clients succeed.
 
in an uncertain world, the road ahead still remains clear. we’ll succeed if we help our clients adapt, grow and thrive in new new zealand. over the next three weeks we’ll explore each of these topics fully, providing insights and ideas to help our clients think about what their new reality is and how they make the most of it. for today, we outline the context and framework we’ll use to facilitate that thinking.
 
 
positive adaptation requires reflection and lessons to be learnt. start internally by thinking about lockdown. what things did you put in place, or do differently, that worked well? should these become the new norm? what did you stop doing, that previously seemed important, but wasn’t missed during lockdown? answering questions like these will give you a sense how everyday life could, and should, be different going forward.
 
apply the same thinking to the world outside your business. what have you learnt about your customers? how has their world changed and how will this change their mindset, focus and actions? not sure? ask them. as a society, will we remain wary of crowds and continue to prefer online? will we become even more safety and family orientated and pro-kiwi? take a view on the future and the impact it will have on your business. use this to frame your thinking and operations. in rapidly changing times, the worst thing you can do is wait and see – it may be too late. adapt what you can now and then keep refining as you learn more.
 
 
unless you are one of the few that prospered under covid-19, your business will be now be focused on revenue growth. we survived lockdown but the reduction in revenue will be most noticeable in the months ahead as cashflow slows but the costs remain. without increased revenue, the alternative is cutting costs.
 
restoring revenue starts with existing customers. retaining them should be priority and that means listening to what’s now important to them. be ready to adapt your offer, your service, your communication and whatever it takes to keep them. engage them positively, support them and you’ll build trust and loyalty, important cornerstones to longer term growth. understanding your current customers’ needs will help you achieve growth through other customers who value the same thing.
 
survival is the focus now, but for the longer-term, businesses need to do more than just survive. they need to thrive. what makes your business thrive? your people and culture? your service? your operating model? your innovation? your community? something else? look back at what’s driven your success in the past. now consider the future - will this be as important to your customers and to your business going forward? if not, what is it that will allow your business to thrive again? with this clarity, put your focus and efforts on this.in good times business can focus on many things. in tougher times they need to concentrate their spend and energy on the things that really matter – and this matters. make a plan to foster it. invest in it. communicate it, painting a picture of how it will lead to a better future for the business and your people. get everyone acting as one towards achieving it.________for our business, we thrive when we deliver creative and clever solutions to the problems and opportunities our clients face. so that’s exactly what we’re focusing on. along with this blog series of insights, we’ll work closely with each of our clients to identify strategic and creative ideas that will help them adapt, grow and thrive in their new new zealand.give us one hour to hear about the challenges and opportunities facing your business in level 2 and beyond. in return, we’ll give you three ideas to help you address them.no charge. no obligation.get your boss, your peers and your team together and let’s talk about how you’ll adapt, grow and thrive in your new new zealand.
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