Restartup by Arunkumar Krishnakumar & Maxson J.Y. Tee

Author:Arunkumar Krishnakumar & Maxson J.Y. Tee [Krishnakumar, Arunkumar & Tee, Maxson J.Y.]
Language: eng
Format: epub
ISBN: 9781119754626
Publisher: Wiley
Published: 2021-04-26T00:00:00+00:00

This chapter doesn't focus on how to do sales, but there is a line in the MEDDIC approach about ‘identifying pain’. That is a key point to focus on, especially during a crisis. Crises have the ability to exacerbate cracks in social and economic setups. Every crack that opens up during a crisis could be an opportunity for your capabilities to fill.

Going back to the Zoom example, asking a why about their core capability can help address if the massive changes in the who for their product really matters. Let us take a few user groups that have started using Zoom since the lockdown began.

Users Older Than 60: They have come to Zoom to communicate with their family and friends. They are a user segment that would not be inclined to become paid subscribers of the product. They might also be the first to stop using the app once the lockdowns are eased. They are perhaps a user segment where revenues will be the lowest. We'll look at how such a consumer base can be monetised in the section ‘The How’.

Schools and Students: Several schools started using Zoom for their virtual classes. They are a segment that might be inclined to become paying customers depending on the length of their sessions. This is also true for personal trainers and yoga teachers who use Zoom. However, there might be a slight behavioural difference between these two user groups. As schools reopen across the world, Zoom subscriptions will go down. However, yoga and personal coaches might find the virtual delivery of sessions more convenient and scalable. If their customers also find it more convenient and effective, the usage with these user groups will last.

Small and Medium-sized Enterprises (SME): Several startups and SMEs moved to Zoom for collaborative working through the lockdown. They were mostly paid subscribers of the application. And, most of them figured out how to operate in the lockdown before long. Many startups I have spoken to also confirmed that they worked from home and used Zoom as the norm; personal meetings were the exception. Therefore, this will be the stickiest user group from a revenue perspective, even after the lockdowns.

This is not an exhaustive analysis of the Zoom consumer base. The examples were used to bring the analysis process to life. All these behavioural predictions are my hypotheses based on why people are using the Zoom app. My hypothesis could be proven wrong during testing, but you should follow such a process with your customer analysis.

We can use a similar approach to enterprise software assessment, too. Let me go back to our portfolio company BibliU, who have created a digital library platform for universities. Just after the COVID lockdown was imposed in Q1 2020, their sales pipeline had 60 new pilot requests from institutions across the world to onboard their platform. Students would return to universities in due course; however, it would give BibliU enough time to have penetration across several organisations in the world.

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