What is the probability that we are heading for a recession? Is this reason enough to take a new look at our business models and test them for recession-proofness? To find out, here are some questions related to your customers:
- How will the recession change their perception of value?
- From the point of view of the situation today, what do you look like as a supplier? Are your traditional strengths still obvious? Have you developed new weaknesses?
- How does this compare to your competitors?
- How does the value you offer increase or decrease in relative terms in difficult times?
- In many cases, a recession increases the churn rate. What aspects are important in this dynamic for your customers? To what extent can you control them?
- Pricing becomes critical. How can you change your business model to offer a new win-win situation with a new price-performance ratio?
- What values are of central importance for continuing sales success in a recession? How can you develop new ones?
Nobody knows at this point what will change after the coronavirus. However, it is already obvious that the changes will be significant. It is therefore the right time to do recession value exercises. Distance is the recipe for surviving the coronavirus crisis. Flexibility is the core component in surviving the upcoming recession.