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B2B Sales & Marketing in a COVID-19 World Smart & - - PowerPoint PPT Presentation
B2B Sales & Marketing in a COVID-19 World Smart & - - PowerPoint PPT Presentation
B2B Sales & Marketing in a COVID-19 World Smart & Responsible Suggestions to Ramp Up Business Development Activities Mike Schilling, MAGNET Director Strategy, Marketing & Sales Practice The current social and economic landscape
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The way we do business has changed, too.
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The majority of B2B companies have shifted their go-to-market model in response to the COVID-19 crisis.
Source: McKinsey
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Marketing budgets are shrinking – but less so in the U.S. than in other countries 5
Source: McKinsey
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That means shifted marketing and sales budgets to digital channels.
Source: McKinsey
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Customers are increasingly engaging with suppliers through digital means...
Source: McKinsey
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… and buying more online.
Source: McKinsey
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For sales transactions, use of mobile apps is up …. use of sales reps is down. 9
Source: McKinsey
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Does it work? Is this the “new normal”?
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It’s working …
Source: McKinsey
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… and it is likely to have some permanence. 12
Source: McKinsey
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This new operating model has manufacturers, suppliers, and customers communicating and collaborating in new and innovative ways.
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Source: Cleveland.com
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The goals, KPIs and company initiatives that drove 2020 strategy are likely changing. That doesn’t mean we should dilute or stop our marketing activities.
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MARKETING
Up-Level Marketing & Messaging with Empathy, Education & Community
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- 1. Start with Empathy
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Source: YouTube, The RSA
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“As marketers, we’re called to have empathy; to profile potential customers, to connect with our audience’s pain points, to figure out what motivates them ... Today, that empathy is needed on a scale we’ve never seen before.”
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- Review target audiences.
- Listen.
- Review your messaging.
- Listen again.
Instill empathy in your marketing program.
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- 2. Be Helpful, Share Resources
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Being resourceful shows you are cognizant and considerate to the impact the crisis is having on your customers.
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- Identify needs, and deliver solutions.
- Transform queries into optimized content.
- Shift from conversion- to brand-focused messaging.
- Optimize paid media spend.
Bring resources to life …
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- 3. Foster Community
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- Evaluate systems for audience engagement.
- Build an audience with a regular newsletter.
- Enable two-way conversations through social media, walled-garden
networks, or other networks/groups.
To start building community …
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SALES
Techniques to Lean Into — And Where to Hold Back
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- 1. Prioritize Existing Customers
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- Send personalized communications.
- Reward loyalty with financial incentives.
- Expand contacts within key accounts.
- Partner to invest in R&D and innovation.
- Keep an eye on referral opportunities.
To deliver a high-touch customer experience:
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- 2. Tone Down the Hard Sell
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- 3. Let your website
sell for you
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- 4. Build Goodwill
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