{"id":22911,"date":"2020-06-14T09:05:49","date_gmt":"2020-06-14T03:35:49","guid":{"rendered":"https:\/\/www.the-next-tech.com\/?p=22911"},"modified":"2020-06-16T13:46:38","modified_gmt":"2020-06-16T08:16:38","slug":"meaningful-ways-of-providing-value-during-the-covid-crisis","status":"publish","type":"post","link":"https:\/\/www.the-next-tech.com\/business\/meaningful-ways-of-providing-value-during-the-covid-crisis\/","title":{"rendered":"Meaningful Ways of Providing Value During the COVID Crisis"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The worst crisis in a century has led to unprecedented levels of unemployment and disruption around the world. Many companies have been forced to lay off staff, others are limping along as best they can hoping for a fast recovery. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whatever line of business you&#8217;re in though, the one thing you can&#8217;t do is ignore the global pandemic. Yet you also don&#8217;t want to overkill on how much you let the pandemic spill into your brand. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Providing value during COVID-19 will greatly affect how your stakeholders see you and the actions that you take will have lasting impressions long after the virus fades.\u00a0<\/span><\/p>\n<h2>3 Ways of Providing Value During COVID-19<\/h2>\n<p><span style=\"font-weight: 400;\">Unemployment in the U.S. is <\/span><a href=\"https:\/\/www.reuters.com\/article\/us-usa-economy\/us-unemployment-rate-seen-near-20-as-covid-slams-jobs-market-again-in-may-idUSKBN23C0E9\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">currently nearing 20%<\/span><\/a><span style=\"font-weight: 400;\">. The European Union is predicting a <\/span><a href=\"https:\/\/apnews.com\/86f0b841f06affc7b825333163dfd50f\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">recession<\/span><\/a><span style=\"font-weight: 400;\"> of &#8220;historic proportions&#8221; this year, and the Chinese economy is still floundering after being the first to be majorly impacted by the crisis. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Many countries now appear to have the novel coronavirus under control and are easing lockdown restrictions. But this crisis is far from over.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">From their health to economic and social issues, your audience is certain to have been affected in one way or another no matter where they&#8217;re based.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> While you don&#8217;t want to be seen to be taking advantage of the crisis to promote your agenda, there are certain ways of providing value during COVID-19 that will be well-received.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The key is to show that you recognize the problem, that you <a href=\"https:\/\/www.the-next-tech.com\/business\/6-successful-customer-lifecycle-marketing-strategy\/\" target=\"_blank\" rel=\"noopener noreferrer\">care about your customers<\/a>, and that you show solidarity and commitment to overcome these tough times together. With that in mind, here are three meaningful ways of providing value during COVID-19.<\/span><br \/>\n<span class=\"seethis_lik\"><span>Also read:<\/span> <a href=\"https:\/\/www.the-next-tech.com\/artificial-intelligence\/blog-to-video-ai-free-without-watermark\/\">[10 Best] Blog To Video AI Free (Without Watermark)<\/a><\/span>\n<h3>1. Create or Share Free Content<\/h3>\n<p><span style=\"font-weight: 400;\">Many of the giant online companies were quick to see the value in providing free content for people throughout this time. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Amazon almost immediately granted free access to hundreds of e-books as well as an extended list of free services to help customers get through their days during the lockdown.\u00a0<\/span><\/p>\n<h4>Free Stories<\/h4>\n<div class=\"fitvids-video\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">While schools are closed, Audible Stories <a href=\"https:\/\/t.co\/8gBHrLW8w9\" target=\"_blank\">https:\/\/t.co\/8gBHrLW8w9<\/a> will be open to help keep young minds engaged. Anyone, in any country, can enjoy unlimited streaming of hundreds of titles for kids and families for free with selections available in six languages.<\/p>\n<p>&mdash; Kindle (@AmazonKindle) <a href=\"https:\/\/twitter.com\/AmazonKindle\/status\/1242043072978063362?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">March 23, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<p><span style=\"font-weight: 400;\">Not only is this a great way of showing people that they care, but it also gives them the chance to awaken interest in potential new customers when the crisis is over. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Some of its services such as unlimited music, for example, are currently free for a 90-day trial, giving a clever way to onboard customers when they&#8217;re back at work.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The media, too, has seen the value in these limited-time offers with many paywall publications like the Wall Street Journal and Bloomberg making COVID-related content free for everyone to view.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can take a leaf out of their book by providing on-point content as well. Many people currently have more time on their hands than ever before. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Now is a great time to give them relevant educational content that they can take advantage of to develop new skills.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The blockchain industry is one of the few that seems to actually be thriving despite the COVID crisis. While many traditional companies are on a hiring freeze or furloughing employees, cryptocurrency and blockchain firms are <\/span><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-04-30\/crypto-exchanges-boost-hiring-in-wake-of-coronavirus-crash?sref=bempDxKS\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">actively hiring<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<h4>Free Expert Mentorship<\/h4>\n<p><span style=\"font-weight: 400;\">This is a clear opportunity for a misunderstood industry to reach a new public that\u2019s ready to listen. And many companies in the space are busy putting out <a href=\"https:\/\/www.the-next-tech.com\/blockchain-technology\/blockchain-and-crypto-cannot-be-ignored-for-the-next-100-years\/\">educational content about blockchain and cryptocurrencies<\/a>. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Leading exchange OKEx, for example, has created a &#8220;Beacon Program&#8221;, especially for the particularly hard-hit European region.<\/span><\/p>\n<div class=\"fitvids-video\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/OKExBeacon?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#OKExBeacon<\/a>: Deadline extended! If you&#39;re interested in learning more about <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#crypto<\/a> &amp; develop a career in the industry, make sure you apply by June 11: <a href=\"https:\/\/t.co\/8itiMjy6MQ\" target=\"_blank\">https:\/\/t.co\/8itiMjy6MQ<\/a> <a href=\"https:\/\/t.co\/eVYGHbDV24\" target=\"_blank\">pic.twitter.com\/eVYGHbDV24<\/a><\/p>\n<p>&mdash; OKEx (@OKEx) <a href=\"https:\/\/twitter.com\/OKEx\/status\/1268490265574150145?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">June 4, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<p><span style=\"font-weight: 400;\">This is a masterclass and mentorship series given by experts in the space with free guidance from the company&#8217;s top executives. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The program is meant to allow people who have been affected by unemployment or are interested in changing careers the chance to get a foot in the door at one of the largest players in the field. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">It also creates a positive association with the brand for taking action during this time.\u00a0<\/span><\/p>\n<h3>2. Build on Your Existing Customer Relationships<\/h3>\n<p><span style=\"font-weight: 400;\">While trying to connect with a wider audience, don&#8217;t forget about the needs of your existing client base. Many of them have different requirements than they did a few months ago. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, don&#8217;t forget that the cost of acquiring a new customer can be as much as <\/span><a href=\"https:\/\/www.google.com\/search?source=hp&amp;ei=tR3aXoG8CY6ua5iunLgL&amp;q=the+cost+of+acquiring+a+new+customer+is+more+thanm&amp;oq=the+cost+of+acquiring+a+new+customer+is+more+thanm&amp;gs_lcp=CgZwc3ktYWIQAzoCCAA6BggAEBYQHjoECCEQFToFCCEQoAE6BwghEAoQoAFQ5QNYqjtgizxoAHAAeACAAZQBiAHZJJIBBTMzLjE2mAEAoAEBqgEHZ3dzLXdpeg&amp;sclient=psy-ab&amp;ved=0ahUKEwjB6rX-uurpAhUO1xoKHRgXB7cQ4dUDCAc&amp;uact=5\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">five times more <\/span><\/a><span style=\"font-weight: 400;\">than that of retaining an existing one.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If your business is not in a position to spend a large budget attracting new clients, customer retention is a sensible strategy for you. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you have a physical premise that has been forced to close, make sure that you keep your brand at the top of your customers&#8217; minds.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Send out messages showing that you care&#8211;and making sure they know you&#8217;ll be around when you can open up again. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here, too, a good way of providing value at this time could be through education or providing your customers with something actionable that they can do while they&#8217;re stuck at home.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you&#8217;re in the cosmetics industry, for example, share tips on how to keep their skin and nails healthy at this time. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you&#8217;re in fashion, show them how to maximize their wardrobe or give them a fun activity to do, such as &#8220;dress-up Fridays.&#8221; This way, they can share the content with their friends on social media while interacting with your brand.<\/span><\/p>\n<h4>Live the Crisis with Your Clients<\/h4>\n<div class=\"fitvids-video\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Cheers to our \u201cnew normal\u201d Friday night plans aka giving yourself an at-home facial!<br \/>\u2728 <a href=\"https:\/\/twitter.com\/hashtag\/KiehlsTip?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#KiehlsTip<\/a>: brighten skin with our Turmeric &amp; Cranberry Seed Energizing Radiance Mask first, then put on your fav earrings and hair accessories for an epic <a href=\"https:\/\/twitter.com\/hashtag\/Selfie?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Selfie<\/a> moment! <a href=\"https:\/\/t.co\/ksYYC2VwlC\" target=\"_blank\">pic.twitter.com\/ksYYC2VwlC<\/a><\/p>\n<p>&mdash; Kiehl&#39;s Since 1851 (@Kiehls) <a href=\"https:\/\/twitter.com\/Kiehls\/status\/1258863914617655296?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">May 8, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<p><span style=\"font-weight: 400;\">You can also take this time to let them know how your products or services will be changing once you&#8217;re able to reopen or what policies will be in place to make them feel safer in the store.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The key here is all about balance. Your weary consumers don&#8217;t want to read another email of doom and gloom over COVID-19. Yet, they don&#8217;t want the problem ignored either. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Offering practical solutions, tips, tricks, educational content, and activities they can share with their friends will help retain their loyalty.<\/span><\/p>\n<h3>3. Adapt Your Products or Services<\/h3>\n<p><span style=\"font-weight: 400;\">The stark fact remains that many businesses will never be able to operate in the way they once did pre-COVID-19. So now may be the time to think of ways that you can adapt your products or services for providing value for your consumers at this time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let&#8217;s say, for example, you run a Pilates studio or a gym, think about giving classes online during this time. The online trend is one that will certainly continue long well into the future as social distancing remains top of people&#8217;s minds.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It&#8217;s not only small businesses that have had to seriously pivot throughout this time. Mercedes F1 turned its stagnant production plant into a flurry of activity producing thousands of <\/span><a href=\"https:\/\/www.bbc.com\/news\/health-52087002\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">breathing aids<\/span><\/a><span style=\"font-weight: 400;\"> to act as ventilators in the UK.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Many clothing brands have dedicated to making facemasks and coverings instead and French vineyards have started converting unsold stocks of wine into hand sanitizer and other such products.<\/span><\/p>\n<div class=\"fitvids-video\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A breathing aid that can help keep <a href=\"https:\/\/twitter.com\/hashtag\/COVID19?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#COVID19<\/a> patients out of intensive care, adapted by mechanical engineers at <a href=\"https:\/\/twitter.com\/ucl?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@UCL<\/a> and clinicians at <a href=\"https:\/\/twitter.com\/uclh?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@UCLH<\/a> working with Mercedes-AMG High Performance Powertrains, has been approved for use in the <a href=\"https:\/\/twitter.com\/NHSuk?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@NHSuk<\/a> \ud83d\udc47<\/p>\n<p> <a href=\"https:\/\/t.co\/RyTy1ZZT8j\" target=\"_blank\">https:\/\/t.co\/RyTy1ZZT8j<\/a><\/p>\n<p>&mdash; Mercedes-AMG F1 (@MercedesAMGF1) <a href=\"https:\/\/twitter.com\/MercedesAMGF1\/status\/1244550277946015749?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">March 30, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<span class=\"seethis_lik\"><span>Also read:<\/span> <a href=\"https:\/\/www.the-next-tech.com\/development\/top-5-automation-tools-to-streamline-workflows-for-busy-it-teams\/\">Top 5 Automation Tools to Streamline Workflows for Busy IT Teams<\/a><\/span>\n<h2>Closing Thoughts<\/h2>\n<p><span style=\"font-weight: 400;\">This crisis won&#8217;t last forever, but if your business doesn&#8217;t get inventive at this time, it might not do either.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> Learning to adapt will not only help you find new ways to keep customer attention and generate income at this time but you&#8217;ll be providing value and staying in your customers&#8217; minds.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The worst crisis in a century has led to unprecedented levels of unemployment and disruption around the world. Many companies<\/p>\n","protected":false},"author":1120,"featured_media":22954,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[1626,2080],"_links":{"self":[{"href":"https:\/\/www.the-next-tech.com\/rest\/wp\/v2\/posts\/22911"}],"collection":[{"href":"https:\/\/www.the-next-tech.com\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.the-next-tech.com\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.the-next-tech.com\/rest\/wp\/v2\/users\/1120"}],"replies":[{"embeddable":true,"href":"https:\/\/www.the-next-tech.com\/rest\/wp\/v2\/comments?post=22911"}],"version-history":[{"count":8,"href":"https:\/\/www.the-next-tech.com\/rest\/wp\/v2\/posts\/22911\/revisions"}],"predecessor-version":[{"id":23025,"href":"https:\/\/www.the-next-tech.com\/rest\/wp\/v2\/posts\/22911\/revisions\/23025"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.the-next-tech.com\/rest\/wp\/v2\/media\/22954"}],"wp:attachment":[{"href":"https:\/\/www.the-next-tech.com\/rest\/wp\/v2\/media?parent=22911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.the-next-tech.com\/rest\/wp\/v2\/categories?post=22911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.the-next-tech.com\/rest\/wp\/v2\/tags?post=22911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}