2020, a year that for many of us started with big plans and momentum, is a year in which we are hit by at least one economic tsunami. This year, we will be discussing maintaining existence or reaching the break-even point for many of our businesses. It is a year in which most of us will suffer from this pandemic, both socially and economically, but, I hope, as little as possible from a medical point of view.
After this very special situation passes, our lives will not be the same, and entrepreneurs, companies, teams and people will have to adapt and find solutions to move forward.
We will see that starting with us and reaching out to our customers, behavior, the way we relate to the needs we have and the way we interact will change.
Referring to my experience and the current situation, I expect the following changes:
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The choice of customers will be made based on specific criteria
One of the main things that entrepreneurs, companies and management teams will have to learn after this crisis is to take a closer look at their customers, their needs and the environments in which they spend their time. Customers are at the center of any business and without them there is no business.
Too many times I have met entrepreneurs who told me: “our customers are all those who are looking for or need the services/products we offer“.
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Setting clear business objectives will become a necessity
I expect those entrepreneurs who did business out of inertia to change the way they see things. Understand that personal and business goals influence all other branches and all the people they intersect with. This is where the performance they get from the actions they carry out comes from.
You can’t ask a salesperson to sell as much as possible without a well-defined plan and objective, nor can you expect a marketer to set your communication goals in the absence of clear landmarks about what you offer, to whom you offer, what you aim for and how you do it.
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A business will be defined by its key products/services
We all want to offer as much as possible to cover the needs of as many customers as possible. But, as we have seen so many times, this goal is impossible or unrealistic. Nicing, establishing those key products or services that are most sought after and offer the most value to the customer, must become a priority for any business.
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The business will be carried out starting from a correctly established funnel
For many entrepreneurs, this term sounds good and is used in various contexts, but I have too often had the opportunity to see that it is not clearly understood or clearly defined in their business.
As long as you don’t know the sales stages your customer goes through, both online and offline, you can’t perform. Moreover, you can’t measure which of the actions you did gave results and which didn’t.
When the market grows, customers show up, and you can get the impression that it doesn’t matter where they come from, as long as they buy, right? Well, the viability of this way of doing business will cease, and a sales funnel will become essential for both the business and the marketers.
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Business will be done in a team
Business will be done in a team, both at the level of internal people and at the level of partnerships, collaborations and associations. If you haven’t clearly defined who your partners are and who your competitors are, you can fall into the trap of treating them the same.
I expect business people to see that the marketing and communication person is part of their team and is not just an external service, because they are the ones who convey the messages that business people want to pass on to their customers.
On the other hand, organizations and business communities will gain strength. It will be a priority for entrepreneurs to be part of groups of people with similar values and initiatives, because only together can we have a voice and support each other in a time of crisis.
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Marketing will become multichannel
In order to survive in the market and no longer be so vulnerable, companies will be forced to stop relying on a single channel of communication and interaction with customers, a single channel for selling and distributing products or services.
They will have to be aware of the need for a marketing mix for effective promotion and communication with the customer. You can’t exist only in the online environment (website, social media, online press) or only in the offline environment (print, outdoor, radio, direct), as long as your client is both online and offline.
Accurately defining the customer’s profile will help that the allocation of resources is proportional to where the customer stays the most.
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The digitization process will be accentuated
Digitization should start with a CRM or an ERP (it depends on the size and profile of the company). In it, it is necessary to establish the range of products/services, the target customer segments, the internal flows, the sales flows and the sources that generate qualified customers. Subsequently, it will be necessary to build a well-structured website with current information, which is related to CRM or ERP to collect leads, orders or sales obtained on each communication channel.
In short, digitalization means automating repetitive processes, focusing on automation marketing and results-based performance marketing in order to increase team and business efficiency.
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Online presence will increase
Companies will have to devote time and resources to ensure their presence online. It is the place where their current and potential customers are looking for services and products, but it is also the place where they take refuge.
Currently, there are large companies that do not even own one or have old, outdated and unadapted websites for mobile. This will change, as companies adapt to the change their customers have made.
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Marketing will be focused on concrete results
Online marketing will change, so we will no longer talk only about engagement, likes, comments or site traffic, but about performance marketing and automation marketing, which will be based on concrete results: new customers attracted, requests for quotes, closed sales or other actions that will grow the business.
Once you have clarified the target audience, the need it covers, the business objectives and the driving product, you can discuss SMART objectives, which will bring concrete results in the business when you implement the action plan.
Of course, the list is not final and it can go on and on for the duration of this period.
P.S.: I wrote this article now, when we have not yet reached the peak of the crisis and not after everything is over, because while some are standing and barricading themselves, others are preparing for what they will do after this period. I believe that we can each make a change for ourselves, even with limited resources.
Let’s not forget that our most precious resource is time and now we have it in abundance, because #stamacasa.
