Overall approach: Waive fee for specific industry clients and re-evaluate
There are many “non-essential” businesses that have been forced to close and do not have an easy online model to convert to. These may require a more Pro-Bono approach to waive their fee for a limited time, for example, restaurants or hair salons. You may need them to cover small baseline costs like email or hosting fees so you don’t take on debt for them. Considering that we hope these businesses will re-open soon, reevaluating month-to-month makes sense.
This strategy was suggested by:
Aaron Macarow of Well-Made Digital – For a restaurant client, Aaron waived this next month’s fee and will re-evaluate next month. “This was positioned as something that we could take a hit on temporarily in order for us all to stay afloat and succeed together. The reality is that we can do this for up to three months and it won’t be good but it will be manageable. After that, we’ll either need them to start paying again or we’ll have to lose the client.”
Shaan Nicol of ChillyBin – Shaan is looking to defer the cost for a set amount of months using this as a time to help the client increase their revenue.