We look at the concept that battening down the hatches in difficult times, is good for our corporate health, and ask; maybe it’s not so good for our health… We give an alternative RoadMap.
My good colleagues in our Insurance Clients, show me the data, and it goes something like this – those companies who abandon their marketing and sales ship in any ensuing storm – will lose around 23% of their revenues that year. And it will take them a further two years to recover.
I do “get” that the above scenario is tempting. Our Press and Media do not get our attention by publishing good news stories. The constant doom and gloom which populate all of our news feeds and Inboxes, gives the end of the world impression of reality.
Except that it is not reality. Our experience over the past two months, in monitoring our corporate colleagues and clients, is that it is a true case of “be careful what you wish for”. Maybe you haven’t thought this through…
The fact is that, how you proceed now – is a choice that you yourself will make. Your reaction to events is the same as any other business decision.
So…. This is how it is.
If you persist in treating your sales and marketing facility as a discretionary spend as opposed to an essential lifeline, then you cannot be surprised if your revenues shrink in the immediate and long term.
What we have found is that those companies that continue to go develop their business, do continue to build up their pipeline, and continue to get new business, come what may. We have seen an increase in Meetings, and very little difference between face/face meetings; and Virtual Meetings. Surprisingly, there is actually quite a positive buzz. Our own clients tell us they have continued to win new projects.
The evidence we have, is that those companies who suddenly stop – will not be perceived as “serious” when the sun comes out and all this darkness goes away.
So what is the answer? We have a RoadMap which you might like to consider:
1. Keep your marketing and direct sales efforts alive. People do understand the global situation, but they still want to see you and hear from you.
2. Don’t let your people go. The good people will not be there for you when you come back.
3. The longer you leave things, the more difficult it will be to ramp up again. This is because there will be exponentially more competition not necessarily in your space, but in the availability of your customer to see you.
4. Your excuse of using this period for “planning” – does not fly. The same pressures will soon apply as before, when you restart – expect that you will be in a worse state to achieve the results you need to get. You still have the office rent to pay, after all.
5. Remember that your key asset – as we are frequently told – are your people. They will indeed continue to be that – but you have to do your part too.