Each post in this 4 part series takes you through each strategy and gives an example of a company that has done this well. We have discovered four useful customer strategies for success.
Getting the basics RIGHT
Fulfilment REORGANISATION
Asset REDEPLOYMENT
Value REPLACEMENT
In Part 1, we covered Getting the Basics Right, where FibreKing grew their revenue by 40% during COVID.
Fulfilment Reorganisation
Fulfilment reorganisation is the first response to consider for companies who can’t get out of this situation with better business as usual. The concept is to innovate around how customer requirements can still be fulfilled within the current constraints. A very basic version of this is using online commerce as the alternative to an in store experience. Another response is to enhance delivery options for customers. But the real innovators are working out how to deliver their in store experience on site for their customers.
Providoor offers restaurant chefs in your home
Providoor is an Australian company succeeding in the growing food delivery market. Like many other caterers they make and deliver meals to people at home. They don’t deliver cooked meals ready to eat. They don’t deliver raw ingredients. They differentiate by bringing partly cooked meals designed for final cooking at home. This avoid the problems with temperature and texture plaguing hot food deliveries. Better still Providoor has partnered with some of Melbourne’s leading restaurants to level up on their customer experience during lockdown.
Their latest offer allows customers to ‘add a chef’ to their delivery who arrives with all the ingredients to cook dinner. This ensures food quality and presentation will be restaurant standard. It also adds a wonderful amount of panache to any dinner party. Who wouldn’t be impressed by having a professional chef in house making dinner at a friend’s home?
Providoor’s target niche is a clever bet. They want serve people with higher than average disposable income and a desire for more upmarket food delivery. This segment has been under served by the incumbent providers like UberEats, MenuLog and Deliveroo. Providoor is to these rivals what Grill’d is to McDonald’s in the casual dining space. But not all companies can simply deliver the same thing to customers a different way.
In Part 3 we continue with the next revenue recovery approach - asset redeployment.
Robert Dew is a Founding Partner at CapFeather Global with more than 2o years of corporate consulting and university lecturing in Innovation, Customer Strategy and Customer Experience. His PhD related to improving creativity in strong corporate governance environments. He has also done 60+ start-ups.