Despite the some dose of uncertaintanty, sales and marketing teams make forecasts, talk to current customers, recalibrate budgets and change the marketing mix. What is the objective for that? Increasing favorability, improving conversion rates, ensuring profitability. Therefore, in addition to the plans and scenarios prepared by managers, the essential elements for success are given by the ability to observe new trends and agility in adapting to them. Here are the tactics we recommend.
7 marketing and sales tactics for a success in the post-COVID economy
1. 7 marketing and sales tactics for
a success in the post-COVID economy
Despite the some dose of uncertaintanty, sales and marketing teams make forecasts, talk to current
customers, recalibrate budgets and change the marketing mix. What is the objective for that?
Increasing favorability, improving conversion rates, ensuring profitability. Therefore, in addition to
the plans and scenarios prepared by managers, the essential elements for success are given by the
ability to observe new trends and agility in adapting to them. Here are the tactics we recommend.
2. Social media offers important tools to
maintain this empathetic communication,
provided it focuses on the customer and not
on display of benefits, offers and promotions.
Create contexts for customers to tell you
how is it for them this period, which are their
challenges and needs, what expectations they
have from business partners, what measures
they have taken to adapt, etc.
Non-selling, sustained and empathetic
communication feeds the account of positive
emotions and puts us in that good
long lasting memory of our customers.
1. Use social media to communicate
with youur current customers
3. 2. Discover new opportunities in the midst of adversity
This is not simple for two reasons: 1. The marketing and sales teams are made up of people who
also have emotional reactions to the generated health crisis. So their ability to discover
opportunities is affected by their psycho-emotional state and 2. Rigid procedures that require
systematic information to "see" where an opportunity arises, but especially to approve of
"accessing" it. The winners will be those marketing and sales teams strong enough to change
everything on the go, in companies open to change, testing and with great agility. Decisions are
now made not only on the basis of figures, but also on the basis of vision, experience and intuition.
4. Even when they stay at home, people consume
essential products and services, having
preferences for their search, selection and
purchase channels.
Social distancing has "forced" broad
categories of consumers who have so far
preferred offline shopping to now switch to the
online environment.
Monitoring the competition, the actions of top
companies in various industries in general, and
the materials published by large consulting
firms are recommended.
All this must be completed with data from your
own interactions with customers and from
observing their behaviors.
3. Observe the new
buying behaviors
5. 4. Add a digital segment to the sales process
Since we know that between 60-70% of the buying process in B2C and between 30-40% in B2B
takes place in the online environment we can have a digital part of the sale process. The studies
we have at Valoria on this topic show that the percentage of companies which have a digital part
of the sale process is 36% in B2C and 21% in B2B in Romania. Even if the buying process is
started in the online environment and then closed offline, in the store, there is still a lot to do to
add a digital dimension to your sales channel.
6. No matter how complicated the situation is and
no matter how difficult it is to predict, the
return makes the difference. The best
approach is the scenario-based approach.
Companies that are leaders in their fields of
activity have the ability to work modularized,
based on sets of variables, models and action
scenarios.
Even if we apply only a part of what we have
structured, analyzed, predicted, because the
situation is a dynamic one, and we are still won
because all these surveys and analyzes allow
us to observe faster where the opportunities
arise and where the risks are.
5. Structure and adapt your
recovery strategies
7. 6. Create the capacity for frugal innovation
Innovation can come from any part of the company. Therefore, in order to manifest itself,
competence, trust, autonomy, transparency and real-time communication are needed.
Competence because this is the basis for the relevant observation of the customer's need, which
leads to innovation. Trust because the innovation once found must be communicated to those
who have the role of approving it in the company. Autonomy because it is essential for
prototyping innovation in a test environment. The transparency of the data in the company's
systems for the marketing and sales team supports the whole process. As well as real-time
communication, which is critical during the implementation period.
8. A study by Harvard Business Review
scrutinizing 4700 public companies three years
before, during and after the recession, found
that "companies that cut costs faster and
faster than competitors didn't necessarily have
a faster return."
On the contrary, they have the lowest
profitability compared to the competition when
the times improve.
Most companies need a continuous
recalibration of their approach and efforts to
recover from the crisis.
7. Continuously recalibrate
approaches and efforts
9. ABOUT US
Valoria Business Solutions is a
consulting, training, and coaching
company. The mission of the
company is to transform the potential
of teams and organizations into
value. Competence, trust, innovation
and passion are the values we uphold
through everything we do. We believe
in people and their aspiration for
personal and professional fulfillment
and their desire to accelerate their
potential. Valoria team members are
involved in mentoring, business
coaching and education support
projects in Romania. Find out more
about us at: www.valoria.ro.
Contact:
Elena Badea, Managing Partner
Strategic Marketing Expert
elena.badea@valoria.ro