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LETS GET DOWN TO BUSINESS.

Question :
Which business sectors are thriving and could use help with visualising their data, to get actionable insights for better decision making. 

Question submitted 10/04/20 @ 05:25am
Industry: Brand & Marketing
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  • The challenge here is finding businesses who are prepared to pay for this service, and oerusadongnrhem that they have a need for it.

    Obvious industries in the immediate term are the essential services still operating – supermarket chains, financial services, government etc.

    However, I’d suggest a more nuanced strategy than this going forward.

    Think specifically about who your target audience is (size of company, industry vertical, etc) and then importantly what specific need your product addresses for them in today’s economy.

    This is key because what might have been seen as an important service to pay for pre Covid could now be at risk of looking like a nice to have.

    So how can your service be an indispensable solution to a problem that potential clients will now be facing? How can you give them the edge over their competitors and a better chance of thriving in a tough economy?

    Once you’ve thought this through, validate your thinking around your proposition by reaching out to individuals (past/existing customers) and then think about how you might connect with people to build a sales pipeline.

    Think about the short term and then longer term – once non essential businesses are back up and running, who might your service appeal to? What new needs will they have that you can address for them?

    I agree with Ben’s points above. The key once you’ve narrowed down the specific verticals is to connect with customers/potential customers/prospects (aka your target persona), and ask questions to identify their pain point/s when it comes to insights and how they would measure the success / value your product would bring.

    You can then use this information to refine the vertical/s you should target, and craft the demand generation strategy (including content strategy at each touchpoint in the journey) so as to ensure you are delivering the right information, in the right format, at the right time.

    Agree with the comments from Ben and Kirsty. Lots of industries have rich data where insights would be helpful. Right now, it’s about which industries have the mental capacity and cash flow to focus on data insights, when many are fighting for survival. Utilities, telcos, infrastructure, internet, health care, supermarkets, government are industries that will be coping well in our new reality, and may be more receptive. Perhaps, industries more impacted might not be able to afford the services right now, but could be great case studies on how data driven insights can transform a business. Would you be willing to work with a few high profile companies in highly impacted industries, on a pro bono basis, to show them how your service could assist them, and the wider industry? Perhaps work in the tourism industry could be extremely beneficial right now.

    Juat posted a long reply – but it seems to have fallen between the cracks

    Thanks everyone, all helpful points.

    I have done work with the major tourism operator in the Abel Tasman. I imagine they will good data on exactly where their future customers are coming from, assuming that domestic tourism is likely to be the first to open up.

    ACTION: I will talk to the MD about this.

    Yes I am willing to do some prop bono work, if the client is offering important services and assuming a disposition of community service.

    Wondering about the food sector.

    The growers have an opportunity to move into markets that were difficult before. The media have recently pointed out that we are likely to have challenges around meeting the food demands because of a drop in imported foods, but at the same time our NZ growers are heavily reliant on imported seeds – which might be more difficult to obtain.

    Question: What would be valuable for them to know?

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