An economic crisis is timeless. Every now and then, all economies worldwide are hit by a brutal recession. This happened with the stock market crash of 1987, the dotcom bubble in 2000 and the banking crisis in 2008. In recent years it has all looked so good. Stock prices soared through the roof and corporate profits were enormous. Until suddenly COVID-19 emerged and the government abruptly pressed the stop button. A worldwide lockdown was the result. Working from home and closing entire industries were the result. An unprecedentedly dramatic drop in demand was the result, turning entire industries into an economic battlefield.

Step off the battlefield

Because many organizations are now unable to deliver their regular products or services, they ask themselves: 'What to do now' and 'What are our options?' There are organizations that answer these questions by examining their costs. Or who deal with this pandemic by doing nothing and waiting for better times. But in order to absorb the expected consequences of the corona crisis, it is better to develop new revenue models that fit the 'new' normal.

Marketing now!

Because the problems arise from a shrinking market, it is only logical that the solution should also be sought there. Marketing is therefore completely in charge. We know that customer behavior is (permanently) changing due to this pandemic. More people are staying at home because they fear contamination or because offices, shops, restaurants and sports clubs are closed. But people who stay indoors also spend money! Companies that focus on those staying at home and find ways to implement the ‘new’ can simplify daily life for the customer, can fully benefit. If companies want to maintain sales in a shrinking market, their market share must grow. And the Business Model Canvas can really help you with that.

Business Model Canvas

You can easily realize value creation for customers with the Business Model Canvas. This great tool was designed by Alex Osterwalder from Strategyzer. A business model consists of nine different building blocks. The business model shows the logic of how a company wants to make money. A business model provides a blueprint for a strategy that will be implemented in organizational structures, systems and processes of the company. You can use the Business Model Canvas to understand your own business model, or that of your competitor!