The Covid-19 crisis is likely to have a detrimental impact on all but the luckiest of businesses.
Many of us are still licking the wounds of great, long-standing client relationships that have been scaled back, or in some way affected.
Yet, although the speed and shape of the overall recovery is not in your gift, preparing for it is. And there are some racing certainties to consider in your plans:
- Client relationships will be under pressure – for reasons as broad as chasing overdue invoices through to clients asking to temporarily change the scope of your services outside of their contractual terms
- Buyers will be under more pressure than ever to add value, reduce costs and find innovative solutions
- Market disruptors and businesses with clear and compelling propositions will be successful in winning customers
So, almost regardless of what ‘the new normal’ is, simply battening-down the hatches is likely to lead to an erosion of customers that are picked off by your competitors and their salespeople.
Marketing may often be seen as discretionary spend, but new business development mustn’t be.
There will be many tough financial decisions to be made in the coming months. So whilst it’s only right that Sales & Marketing spend is reviewed;
Is your budget best invested in marketing or sales & lead generation?
- Can you cut back on marketing that is more strategic but doesn’t deliver a direct return, such as building brand, content, social media or other forms of non-direct response digital marketing
How many Salespeople do you need?
Assuming that buyers and sellers will have become more accustomed to remote initial sales interaction, could you reduce your BDM headcount and invest in lead generation, with a view to giving your top sales performers more opportunities
The answers to the above will vary widely from business to business. However:
If you are ambitious about maintaining or gaining market share and recognise that to do so you will need to pro-actively take your sales message to your prospects, Beanstalk can help.
We have a wealth of experience generating sales ready leads and initial meetings (both physical and online), through a blend of telemarketing, accurate prospect data, LinkedIn research and email marketing.
If you’d like an early-stage discussion about how we would help deliver a razor-sharp message to your prospects and generate those vital sales-qualified leads, please get in touch.