We Know Things Are Tough
At this point, there are few businesses who aren’t struggling with the current situation and the economic insecurities it has caused. Businesses who were about to hire new staff a few weeks ago are now facing layoffs. It’s a tense situation for all of us. At Flawless Inbound, we believe that the best way to get through this crisis is by holding together. Over the last weeks, we’ve seen, heard, and felt the struggle – and we feel with all our friends and partners who have been affected.
Here's How We Can Help
Integrity and Humanity are important aspects of our Corporate Culture at Flawless. We acknowledge our responsibility to help and are set on doing our part for the community and our business partners by offering our experience and skills developed over years of facing unknowns, insecurities, and fast-changing situations.
In response to the tense situation many of our clients and businesses in the community are facing, we have decided to offer three new Lite Programs. They address the need to establish, sustain, or expand digital online presence – depending on your business’ requirements – and come at a significantly reduced rate.
Keep reading to learn more about how your business can stay on track and get started building a new track as we all try to stay afloat during this uncertain time, or click Reach Out below to see what's included in our new Lite Programs.
We Recognize Your Struggles
For VP Marketing:
If you’re a Marketing Manager, the following might sound familiar to you:
- Tradeshows are being cancelled, resulting in a 40% drop of expected Marketing Qualified Leads for the next quarter.
- 70% of current marketing collateral is tied up in hardware campaigns that suppliers can’t fulfill (banners, brochures, etc.).
- Content teams are uncertain about what will be resonate with their target personas during this time.
- Their business is in a complete freeze right now and they don't know how to allocate advertising budgets over the next months.
For VP Sales:
VPs of Sales are facing similar problems on the other side of the funnel.
- Difficulties securing current deals & necessity to reset goals as current clients are in cost cutting mode.
- Possibility of losing current clients and their business and threat of being replaced by cheaper alternatives.
- It’s difficult to maintain Sales Team confidence.
- Uncertainty in the Market forces prospects to delay purchasing decisions and cancel in-person meetings.
- As trade shows and events are cancelled, there’s increasing need to find effective alternatives for prospecting.
- Reallocation of Internal Resources might be necessary to redirect budget and team towards the new processes
Don’t Despair – Prepare!
In uncertain times, it’s helpful to concentrate on the known variables and start from there – even in times of rapid change, a few things remain the same. Use those anchor points to prepare and evolve pro-actively:
- 78% of internet users research products and services: if you haven’t already established your online presence, now is the time.
- Buyers are 66% to 90% through their buying journey before they reach out to a vendor. The 21st century customer is educated and deserves to be treated accordingly. Be prepared to provide them with real value – that’s the essence of Inbound Marketing.
- There are 73 million millennials in the North American workforce who are involved as decision makers and influencers. Cater to their preferences and expectations.
- Evaluation behavior, channels & expectations are changing. Accepting the facts and being proactive are essential to mastering the current situation.
Marketing Solutions for Staying On Track
You’re dealing with trade show cancellations, wondering how to get your marketing and sales back on track? Here’s how:
- Determine what the critical success factors of tradeshows were (e.g. concentration of target buyers, high-impact product demos, faster sales cycles, etc.).
- Make a list of current and prospective accounts (and key contacts) you were targeting.
- Concentrate on delivering a tradeshow-like webinar to you target base. You can do this via many webinar platforms
- Make sure to position yourself as a crisis disruptor by focusing on your products and services that help manage this situation better.
Adapting to the current changes means updating your marketing collateral to reflect the need for digital delivery.
- Create a Knowledge Base for your products and services. Remember to position the material along all steps of the buyer’s journey.
- Continue existing campaigns to evaluate what products and service offerings are receptive to your target market during a crisis.
- Use a Customer Advocacy Newsletter to communicate to your existing book of business what orders you can fulfill and potential delays.
- Harness the knowledge of industry leaders on (professional) social media. In a LinkedIn Group, you can invite manufacturing leaders to share their best practices during a crisis and position your own organization as a thought leader.
Sales Solutions for Staying On Track
Re-evaluate Goals/Secure Current Business
As far as your sales are concerned, moving fast is the credo and quick adaptation is the go-to skill of the moment. Promote stability, blend out anxiety – attitude is contagious! Focus on these areas:
- Re-evaluate your forecast and prioritize your markets for the year.
- Communicate clearly and build rapport with partners and customers.
- Make your Customer Success Team a focal point to maintain existing deals.
- Streamline and empower your Service Desk with the goal of reducing friction and shortening response times.
- Offer flexibility in pricing and be proactive in restructuring contracts – it’s a sign of empathy that will be felt and remembered.
Responding to Uncertainty in the Market
Obviously, it’s hard to score leads at events if events aren’t happening and businesses which would have qualified as great prospects a few months ago are now struggling to stay above water. Don’t waste their time (and yours) with anything that isn’t directly relevant to them right now. Concentrate on the leads to whose business you can add value with your services:
- Resort to manual lead scoring and identifying high priority deals; consider creating a Deal Desk.
- Segment your sales database according to the new criteria and customize your digital nurturing approach (automation, tools).
- Design a digital sales process as an alternative to meeting in person. Keep in mind that this will be useful for after the crisis.
- Adjust your pricing based on lead scoring and segmentation results.
Rethink the Way you Prospect
Keep in mind that this is an exceptional and challenging situation for everybody, including your prospects. Their goals have changed as much as yours, and you need to reflect that in your sales process.
- Explore alternative channels like LinkedIn selling, video, emails, mobile outreach – whatever works for you.
- Build thought leadership through webinars, podcasts, blogs, etc. and involve the Sales Team.
- Invest in sales enablement tools. Now. The goal is to enhance sales productivity regardless of social distance.
- Redefine your sales qualification process to match the new social distance conditions.
Reallocate Resources to New Revenue Drivers
One door closes and another opens, and that includes revenue from streams that you might not have considered before. Keep an open mind when reassessing your drivers.
- Train you Sales Team in new tools such as a Knowledge Centre, video emails, online meeting links, LinkedIn Sales Navigator, etc.
- Social selling replaces field selling based on new sales segmentation.
- Pertaining to Inside Sales Reps specifically: focus your selling time 70% on the US.
- Program your CRM to reflect the new sales processes & sales productivity reality.
SaaS Model (utility models)
First, assess what is working. Then, ask yourself what you can do to adapt and do differently right now.
- Run a Net Promoter Score (NPS) campaign to find out what customers need immediately.
- Evaluate your Monthly Recurring Revenue (MRR).
- Most importantly: implement! Take the results as a basis for your future strategy.
Knowing buyer habits helps you deliver valuable and useful offers. Do your research and act on it. Here are a few pointers:
- 73% of millennials buy online. That means their buyer’s journey is different from that of earlier generations. Act on it!
- This market is expected to grow by 11.1% or $24 billion by 2025. Set the tracks now and calculate for change.
- Conversational Marketing: 75% of consumers are more likely to buy from a retailer that recommends options based on past purchases.
Get In Touch
We believe in moving with the current – even if it takes you down a waterfall sometimes. And in case you’re wondering HOW we do it, that’s easy: by offering the basics – over the long run! We realize that now is not the time for big marketing coups, but the time to restore stability. A program that is spread out over a longer time and doesn’t weigh down your bottom line too much gives us the chance to solidify your digital presence and help you through the rough ride.
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