We all remember how difficult it was to keep afloat when the pandemic hit.
With worldwide lockdowns, curfews (for some countries), social distancing, and new regulations, the number one priority was to stay safe and healthy.
A few weeks in and projections showed that the pandemic was going to last over 18 months. At this point, the question on everyone’s mind was, ‘What Next?’
The pandemic caused a shift in company strategies, sales operations, revenues, and basically, the overall running of any company.
One and a half years later, it is clear that all businesses need to adjust to cope with the effects of Covid.
Below are some of the essential aspects of your business that you may need to adjust to be successful post-Covid.
1. Rebuilding operation
The coronavirus pandemic has altered business operations, market dynamics, and demand patterns.
These changes exposed the fragility of supply channels and networks on a global scale.
Business leaders were left wondering how to sustain performance during and after the pandemic.
After much deliberation, companies realized that they have to adapt by creating visibility, productivity, and agility in their operations. This means business operations should have strategies that;
- Cover a broader and more acute range of shocks and imbalances. This way, businesses will respond quickly and effectively to changes in consumer-demand patterns.
- Are flexible to accelerate adoption and strengthen operational resilience. From what we have seen and heard, the situation will likely worsen before it becomes better.
- Incorporate digitalization in terms of product marketing, quality analysis, and consumer-end connectivity. Technology should be a part of the day-to-day running of the business.
2. Identify and prioritize revenue opportunities
While making sales goals and assessing progress, it is imperative to determine which revenue streams are likely to create new opportunities for your company or expand existing sales volumes.
You need to understand your overall growth/revenue mix and the contribution of each revenue stream to revenue (Customer segmentation is critical).
This breakdown will help you conduct a gap analysis between the strategic value of current activities and their contribution to revenue achievements.
Take advantage of knowing where your company thrives and direct as much attention, resources, and time as you can to harness that revenue.
3. Who is your ICP (ideal customer profile)
Attaining good sales has a lot to do with satisfying the needs of your customers.
Do not assume you know what your clients want just because you have had them for years. If your priorities have changed post Covid, it is likely theirs have too.
Re-engage them so you know who you have lost, gained, or retained.
It would help if you adopted a purpose-driven playbook that is all about understanding what your customers value.
This way, it’s easier to develop or improve company policies and strategies to implement tailored responses and grasp the attention of your clients.
Invest in consumer management software that can help you identify and pursue customers who want the specific services or goods you offer.
After identifying your ICP, position yourself at the center of their needs and provide them with solutions. Offer incentives such as gift hampers, vouchers, and discounts just to be safe.
4. Keep an eye on your team, they are you and make adjustments
Thriving business enterprises acknowledge and reward the team (employees, management) behind their prolific sales strategies.
You will need to listen to your employees’ opinions, discussions, and ideas so you can gauge how much they are ready to take on and how exactly to do it.
Conducting surveys and regular open forum meetings with your team sets the focus on the process of orientation. Create a safe environment for them to express themselves.
Also, invest in finding an outlet for your staff. They are most productive and motivated when they are stress free.
Therefore, a recreational center or getting them professional help will go a long way in boosting their morale.
5. Make social media your friend
When formulating sales promotion and lead generation strategies, think how you are going to convert the leads, whether (hot, warm, or cold ) to customers.
Like Micahel Taylor said,
“We used to generate leads to start a conversation. Now we start a conversation to generate leads.”
If there was a time that businesses needed to invest in Social media, it is now. Make your presence known by being active and interactive with your customer.
Grow your social media presence by setting up active social media channels with ad campaigns that will attract traffic to your website, profile, blog, LinkedIn, Instagram, or Twitter.
When posting online, your consumers expect you to;
- Know them and what they want
- Personalize the content you send to them.
- Anticipate their future needs and find solutions.
- Give them new insight on the information they require.
Similarly, review your marketing spend (media, CRM, etc.) on customer acquisition and account development activities against the expected investment return.
Invest in both technical and professional resources to position yourself somewhere the right people will notice you.
This unexpected pandemic shook our lives and businesses in ways that most of us could not have predicted.
It would be most helpful to be relatable to your clients and your team, so you stand a better chance of getting them to buy into your solutions.
You can do this by revamping your website and making it more interactive. Come up with other creative strategies that will educate, attract, and incite engagements.
Most businesses are not accustomed to evolving and changing by such drastic variations, but they should be flexible enough to accommodate market changes.
Understanding your market and its value and conforming to their needs will significantly impact your organization’s success post the pandemic.
You will undoubtedly identify the inefficiencies or gaps that need to be addressed through changes in processes, tools, or additional investments.
Even with great social media presence, you need a salesperson who can cut through all the noise and execute a pitch better than your competition.
Do not focus on one or two aspects, come at the problem from all angles.