Losing faith will not get you out of the problems, but optimism will surely motivate you to fight with them. The pandemic outbreak is very crucial and countries are still struggling with people’s survival. The economic crisis has arisen but we shall overcome it for sure. Economies across the globe plunged into deep contractions within the April- June quarter of 2020 but the companies specifically like IT, e-commerce businesses, etc.
At the start of June 2020, with the improving Covid-19 statistics, European governments started easing their lockdown restrictions. Reviving the alternatives other than lockdown. The Deutsche Bank’s Chief US economist, Matthew Luzetti, said- “The return of economic activity is likely to be gradual.”
China, where this virus was started, has also achieved the much-discussed V shape recovery. The CEO of NetSuite Evan Goldberg said that companies that are capable of pivot speed are doing best even in these crucial times. He also said that this growth is not in one industry compared to others, but the analysis is done more on a company-to-company basis. Not every company is blooming, but many are on their way to bloom.
The enterprises are looking for paths to overcome these heavily dented losses by the COVID-19 worldwide. To recover from these losses, getting help or tips from the experts would be very beneficial. As there is a famous idiom – Doobte ko tinke ka Sahara( Drowning man catches at a straw.) So every tip is important, you never know what may work for you. So here are some tips for the B2b companies to stay ahead in the competition even in this situation.
- Reach your loyal customers beyond your capabilities-
Focusing on new customers is good, but distracting yourself from the old one would be a great loss. As there is a quote, ‘Loyalty is Royalty’ and in business, each customer is important. As new customers cost five times more than the old ones. Old customers trust you. Start with comprehending the changes in customer loyalty since COVID-19 then find methods to stem customer attrition. Include personalization strategically within the existing customer loyalty programs to avoid losing the shoppers. To make your old customers stay with your services, start enhancing the loyalty programs. For example, Big basket, the e-grocery market experienced 36% revenue up in 2020. The company offers special delivery offers for its elite members.
- New revenue framework establishment-
The COVID-19 has destructed the economic growth of every enterprise, making every sales and marketing enterprise shift to the new methods of communicating and working as per the buyers. For this, the cohesion of business is important in identifying the scope and magnitudes of problems so that focus would be on the structured and tactical changes. Another thing to do is rejuvenate the revenue functions. This means, after identification of the issues, optimizing it as per the current long- and short-term goals. After three- nine months of metric establishment, and once it offers positive responses, the acceleration of the customers can be focused.
- Joining hands with Virtuality-
It’s been a year since the pandemic has curbed us in social distancing. Though the situation is not as critical as it was last year, still, we haven’t recovered from it totally. Moving towards the digital marketing option would be the best alternative as it would keep you connected with the buyers, even staying at home monitoring your business and your employees. Opting for the Email Marketing option has been considered as the most trusted original leads-generated marketing option. It has generated ROIs with better results, even in a pandemic.
- Marketing methods considerations-
The Coronavirus has changed the lives of people, their thinking capabilities, and even the working standards of the businesses as well. Nowadays companies are working on the data-driven marketing culture, making them act aggressively with greater flexibility even in pandemics, and following the same steps will help the companies grow. To make data-driven marketing culture your best opportunity considering a few things are very important, these are:
- Goal calibration inspection is important before investing in the data-driven plan because any sudden change in marketing goals may disrupt the marketing development.
- Avoid over amendments- Evaluate the marketing process when any sudden disruption is caused instead of reacting to it immediately and avoid overcorrection.
- Focus on the good leads- Identify the good leads early and focus on them as they will generate your RoI.
- Focus on building relationships with the customers instead of demand creation. Concentrate on the intents of the audience and work accordingly.
- Insights into consumer behavior after pandemic-
The Coronavirus has changed a lot of things and consumer behavior has also changed. People have been more concerned about the issues related to health, and coronavirus effects on people’s lives.
So engaging your content and modifying your strategies as per the circumstances and people’s behavior would be beneficial for sure. For example, companies such as Arvind Mills, JCT Mills Phagwara, Amare Safety have taken the opportunities for PPE kit manufacturing in India, when the country had a shortage of the safety kit which is essential for the health workers to cure Covid patients. Minding questions like –
The intentions of the buyers
Industries that are doing better
Service pertinence to the customers
Comparison of relationship with customers pre and post covid.
The USP of your business is to opt for your service over other brands.
Change in B2B Marketing approaches-
Coming out from the economic plummet triggered by the pandemic has proved slower and harder than original estimates advocated. The MD of Customer Sales and Service strategy, Steven Soechtig, asked businesses to remain flexible and resilient in this unprecedented economic time. He suggested businesses radically redefine how they operate to emerge stronger. Do outpacing changes actively and B2B sales methods must pivot in response and create measurable results fast?
The digital channel’s demands are rising shifting the purchasing power fast, resulting in the commoditization risk higher than ever. These drastic changes require the following 5 powerful B2B dynamics into consideration:
- Rediscover your customer– Stay close and relevant. Remember, customers have many options for one service or product and you need the customer more than they need you so always try to be close and relevant to your customers.
- Sales Refocus– With the other changes, your sales strategies should also change, and redefining the sales journey is important.
- Reimagine the offer– Use new narratives, approaches, and terms to make your customers stay connected. Think out of the box.
- Reset your Sales Approach– Make alignment with sales approaches measure them to drive incentivize for outcomes.
- Sales Team re-enable– Make your sales team understand the need of the hour, guide them well make them ready for new challenges.
The noble coronavirus has affected every industry at so many levels affecting business strategies in every sphere from production to marketing. It is very important that enterprises should focus on the essentials rather than non-essentials as the situation has brought economic crisis as well.
If your marketing business is struggling to be in the competition during this crucial time, First Connect Digital is here to hold your hand making your marketing strategies stronger as the company has a specialized team of data analysts, telecallers, graphic designers, digital marketers, content writers, researchers, web developers, who are dedicated towards their role generating positive outcomes for its beloved clients. It has delivered 9999+ campaigns in just 5 years by modifying its strategies as per the client’s requirements.
The company provides services like-
- Email Marketing– It assists to accelerate the business cycle with optimization of the sales funnel.
- Database Services- A collective information regarding the prospects with full verification by our end for lead generation.
- Tele Marketing– Strategic approach concentrating resources on a set of defined target accounts.
- Digital Marketing– Get deep insights helping businesses to understand the needs of their target audiences.
- Content Syndication- Through our digital content such as whitepapers, videos, blogs generate new leads from prospective customer accounts.
- Account-based marketing – helps in getting the right customer for the business.
- Event Promotion- Instant reach to the hundreds of clients with our in-house conceptualized highly efficient techniques involving SEO, Social Media, and Blogs.
So what are you waiting for? Join your hands with FCD, and see yourself fly in this sky of marketing. For more information, visit- https://firstconnectdigital.com/.
