If Pandemics are Here to Stay, What

Situational Considerations

Optimistic outlooks predicted that by 2021, the pandemic would have blown over, and businesses would be entering into recovery mode. However, this has not been the case, with many countries re-entering lockdowns and continuing to impose restrictions. The shift has now changed, with a prediction of 18 months before any recovery occurs, yet even that is speculation. Thus, businesses have moved away from short-term ploys and tactics to make it through the pandemic.

Aside from the political, legal, and economic regulations and restrictions, society and technology have also changed, having a knock-on effect on businesses. When looking at how the pandemic has impacted businesses, one can state that it runs three levels deep, from micro to market and macro stages - in other words, everything has changed.

Business Strategy

The crux of this article is all about the best business strategy. With it in place, you can navigate the ongoing world amid a pandemic with a sense of direction that attempts to regain some control over the situation. You should prepare to revisit your strategy in-depth since much may need to change. Begin by determining what your core values are as guiding principles in planning and inform your competitive advantage. For many businesses, the point of this is simply to survive, but for the best strategy, you’ll need to have a grander vision that extends beyond survival. Consider your vision and objectives, findings from a SWOT analysis, resource management, and results from measuring your business’s performance.

As you determine what your business will need to do, and achieve to meet its strategic goals, consider a more in-depth look at the business world’s context right now. This considers the general ways in which businesses have been affected across the board, but remember - having a successful strategy will need to be tailored to your business specifically. Factors like industry and region separate this. If you’d like a tailored solution for your business, get in touch with us for a one-onone meeting to discuss further.

As we’ve mentioned, the best strategy for businesses is about surviving the pandemic, and the best way to do this is to adapt with a long term view. The emphasis has been on slowing the curve and adopting the treatments which are being developed. This will take time to roll out, and it will be a process before herd immunity is reached. That being said, the way of life will have altered permanently. ‘Social distancing’ and ‘new norms’ are here to stay. It leaves businesses in a position to make plans that will ensure their business remains relevant and sustainable. Making it through this pandemic and being wary of future pandemics that could affect society, the modus operandi has moved away from crisis management and long-term strategy.

Business Planning for the Long Term

Some of the already abound changes include increased unemployment rates, fewer funds available, and more decisionmakers’ risks. This applies to homes and businesses as well. The overarching message that the lockdown following the pandemic has illustrated is that people have had to adjust and make do - some have found comfort in maintaining their surviving position. In contrast, others have forged ahead in the new world. That very same dilemma now faces your business.

In terms of business changes that are likely to stay in place, the significant changes include:

• New ways of operating. • New ways of managing teams. • New product and service offerings.

In your strategy, you need to critically assess whether your offering is feasible and sustainable in the long term. If there is doubt, new solutions need to be developed.

Assess the feasibility and sustainability of the following:

Your product or service offering: Your offering still needs to stand out among your competition and, most importantly, present a solution to your customer base. As needs and behaviors have changed, your products and services will likely need to change as well.

Your sales channels: Many brick and mortar stores have had to begin trading online, and those already have seen an increase in e-commerce sales. Social media platforms are also becoming increasingly business-friendly, with the option to sell to customers directly on these channels is becoming the norm.

Your operations: How you manage and work is likely to have changed, with an influx of remote working. For many businesses and roles, this is unlikely to change; hence permanent structures need to be put in place to occur in the best possible way. Multinational companies will need to consider whether their office spaces are still viable and necessary or if regional headquarters and seasonal conferences with remote working is best. Likewise, smaller businesses can apply this to communal working spaces.

The best strategy will include plans that range in periods, from as short as three months to mid-level 9-month plans and finally the full 18 months. It will be about short and mid-term goals that facilitate your brand and business position in the long term. Every area of your business should be open to adaptations.

Though budgets have been restricted and are likely to continue experiencing strain, businesses need to ensure they invest in and upgrade their technology where needs are. For instance, ensuring your team is connected by a CRM platform and having access to a communication platform’s premium features can increase productivity and transparency. This transparency extends to customers, too, as it is a value that is appreciated and expected of businesses. Having access to the latest tools and technology also means you can improve your business experiences with your business.

In Summary

There is no need to reinvent the wheel of developing a business strategy. However, you do need to revisit it and possibly ‘reinvent’ many of the plans you have for your business in the future. When it comes to navigating your business through a pandemic, having a strategy based on innovation rather than crisis management alone is essential. When all of the necessary considerations and contextual factors are taken into account, you can apply them in conjunction with your business needs and develop long term solutions in a comprehensive strategy.

How can I identify a good lead versus a poor quality lead using data?

By: Toni Becker

Did you know that sales representatives only spend a third of their time selling? This means that they are spending a large amount of time on non-revenue generating tasks and we all know that business growth is the key to survival in these trying times. This is why it is important that your team is equipped with lead data, and are able to prioritise quality leads over stagnant or cold leads.

A high quality lead is an individual who is interested in your business and has a genuine need for your service or product - this means they are more likely to convert into a paying customer. These are the kinds of leads your team should be focusing on and all of this can be achieved through lead scoring, that is: a system that helps marketing and sales reps prioritise quality leads over poor quality leads.

To ensure your lead generation tactics bring in results and benefits your entire organisation, you need to make sure that your marketing qualified leads and sales qualified leads are of top quality.