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5 Practices to get your Industry back on Track amidst COVID
Posted on Feb 4, 2021 |
Posted in News |
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Coronavirus has smashed the world at an unparalleled stage. Companies have to adapt to the next normal today in order to bounce back successfully in a post-covid marketplace. It has become challenging for most businesses to keep their financial wheels turning during the lockdown period due to less revenue levels and the general uncertainty happening everywhere.
Coronavirus has smashed the world at an unparalleled stage. Companies have to adapt to the next normal today in order to bounce back successfully in a post-covid marketplace. It has become challenging for most businesses to keep their financial wheels turning during the lockdown period due to less revenue levels and the general uncertainty happening everywhere.
Proven practices for reshaping the go-to-market approach and preparing your business ready for a Post-Pandemic World
• Insights of tracking expenditure against the revenue level will allow B2B companies to find pockets of opportunity and generate different scenarios to show how demand might progress
• Checking the feasibility of the business model is an important initiative to take. It has been noticed that customers expect high quality experiences at remote platforms, so companies must attempt for improvement in this area to reduce sales costs and enhance customer satisfaction.
• Make sure abut smooth running of your returns process & Deal with demand and supply chain interfaces
• Reconfigure business strategy to lessen the variable expenses, renegotiate fixed spend and focus strongly on the crucial elements for survival. Before scaling up the new go-to-market model, companies should convey changes in profiles, territories, accounts, and KPIs to all concerned departments. They will also need to communicate with their customers about any changes and develop transition strategies.
• Communicate clearly with your customers to get real-time visibility into markets, B2B companies should do competitive analysis and check leading indicators, along with COVID-specific data.
• Maintaining healthy relationship with contracted parties is fruitful
• Transparent Communication with stakeholders is also a valuable step to carry. It ensures that they have a quality experience during the transition.
• Moving safely towards Remote Buying & Selling processes is the most valuable options by using digital channels along the entire customer decision journey.
Follow the above solutions to pursue a sustainable and resilient recovery.