4 Ways to Support Your Clients During Covid-19

Few would have guessed we would be in a practically global lockdown a month ago. The impact on businesses has been significant. Many have been forced to make redundancies, delay paying suppliers or even fold due to the inability to trade. Governments have stepped in to help businesses’ but how are businesses’ supporting their clients during this uncertain time? It will be survival of the fittest between businesses. Those who adapt and innovate will be left at the end, with great opportunities to dominate markets. This article will explore some practical tips to support client’s during lockdown.

Regular Contact

Depending on what industry you are in, contact can differ, but one of the most important things a business can do right now is continue to communicate with clients. Account managers need to be ringing their clients, giving support and feedback that will help their clients on a daily basis. This will ensure that a client is feeling valued and will provide goodwill to the client. It will also help client retention in the long run as clients that feel appreciated are more likely to stick with you.

Temporary Discounted Prices

Offering a temporary discounted price will go a long way with your clients. Naturally, how much discount you can offer will depend upon your margin but there are certain industries like the subscription-based industry that can slash their prices radically. We found a poker training one offering as high as 90% discount during Covid-19 lockdown. It is worth checking with your finance department how high a percentage discount you can offer. Logic dictates the higher the discount percentile, the happier a client will feel. Be careful though, it is probably better to keep the price static than discount an insultingly low amount like 5% or less.

Educate

Another way to support clients is educating them on the situation. Many are oblivious to the resources available to them and are not investing the time. If you are diligent and getting access to the support available from the government and grant schemes, share it with your clients. If you help them with their cash flow by saving them money or getting access to funds they otherwise wouldn’t, they are far more likely to stay loyal to you.

Offer Solutions

As previously stated, innovation and adaptability are key to getting through the next few months. In addition to selling your services or product to clients, why not offer suggestions and solutions to help them? Not everyone is capable problem solvers that can react to the changing business world. Perhaps your client is a Psychologist, perhaps they can move to video conferencing for their 1 to 1 consultation? Perhaps your client sells ladders in a retail store. Could they move their sales to online and setup ecommerce? Most industries have the capacity to change the way they operate, if the owner is willing to change. When this is all over, the business world is likely to be radically different and those who have solutions will have opportunity to make a lot of money.

Conclusions

As challenging as it is at the moment, businesses’ need to remain positive and get through. The most important thing is surviving this period so you are placed to take advantage of opportunities on the other side. The reality is, many companies will go bust due to their inability to plan, manage cash flow, innovate and react to the changes going on. The companies that are supporting their clients now are more likely to keep them and be there afterwards with potential to grow. I hope yours is one.