If you are still using the same sales tactics as you did 6 months ago, before the worldwide pandemic, then you might think to change some key sales areas that may improve your lead generation and conversion rates.
Part 1 starts by looking at an area that you may not have considered. For instance, are you still focusing on the right target clients?
For a start, look at the Simon-Kutcher partners crisis map below. It was created after studying the impact on demand and delivery of the pandemic on the global marketplace. You may recognise where you are in the matrix, but where are your target clients?
Where are your target clients?
Threatened – It is estimated that over 58% of the world economy is in this section of the matrix. Many rely on human to human contact and are at this minute busy trying to look at innovation and efficiencies to come out fighting.
Already some key sectors, like manufacturing, have shown that they can diversify their output to profit in these times. Are your customers threatened? If you can help them at this time, they you will build a strong relationship for the future. However, if they have put their business with you on hold, you may want to investigate the other sections of the matrix … do they now need your services?
Overwhelmed – These have seen a positive demand but may be unable to fulfil this due to the restrictions. This could cause them to provide an inferior service to their customers. Can you help these businesses with supply & support?
Overweight – These companies are finding a recession type reduction in demand and have to react accordingly. Price wars/commoditising are not long-term solutions. These will be looking at innovation, non-erosive promotions/incentives, monetisation of services and increasing their competitive edge through technology. What solution can you provide to benefit these companies?
Thriving – 11% of the world’s economy is thriving. These will have similar issue to the overwhelmed and cashflow may be an issue through managing speedy growth. They too will be in a competitive market – can you help & support these industries flourish and keep the momentum when the all the markets finally open up fully again.
We are halfway through this epidemic. What we do in terms of targeting and supporting the right companies in the correct manner will also determine our future.
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