These are unprecedented times. When we published our Q1 Research, we saw some warnings on the horizon that could lead to a recession. CoVid-19 and our society’s response has been a larger and faster shock to the system than anyone anticipated. We continue to engage our clients on a regular basis. For members of the SBI Community, we wanted to share the best practices we are seeing.
Most of our clients are already doing the following:
- Ensure the safety of your team. Most B2B sales teams have moved to a virtual environment. Your teams need you to be visible (albeit via virtual methods), and the individuals want to be reassured. You may not have the answers, but commit to being transparent, and to keep them in the loop.
- Re-examine your entire content calendar and immediately adjust. All our inboxes are full right now, with similar sounding emails. These have not been helpful, and some messages have come from B2B companies, which are quite tone-deaf.
- Leverage your commercial teams (Customer Success, Account Management, Sales) and your senior executives to call your customers. This is not about selling right now, it is about reassuring clients that you are here, you stand with them, and they can count on you to get through the crisis. Look for ways to help. Do not be constrained by your current relationship.
As we enter a new week, in an uncertain environment where things are changing by the minute, here are some additional steps we recommend:
- Establish the New Fact Base – While the data in your CRM is important, market leaders have a robust pipeline inspection process, where they will have a contingency based view of revenue in the coming weeks and quarters.
- Refine your structured management cadence. Applying structured and collaborative thinking is always valuable, but particularly in times of crisis. We will have to make decisions quickly, with less than perfect information.
- Reallocate Commercial Spend – Using this new fact base, re-allocating their commercial budget and coverage models to best equip themselves to survive and possibly thrive in this challenging economic environment.
No doubt, this is a crisis. We don’t know how bad it will get or how long it will last. We are committed to helping our clients navigate this process and have created a community called “Inspire Others,” where you can safely share best practices and help one another through this challenge. We have also established the Revenue Growth Help Desk, where you can get a response from a Revenue Growth Expert within 24 hours.