David Lee - Apr 17, 2020

COVID-19: Strategy, Sales and Marketing Insights

I believe the SMB market can gain a lot of insight on how to move forward by listening to the top tier strategy and consulting firms that the Fortune 500 companies turn to for advice on dealing with COVID-19.

If you find articles that might be helpful to share, please send them to me at David@DoWhat.works.  I'm happy to review and see if we can add to this blog and share with the community.

I hope you find this informative and actionable.

Stay safe!

- Dave

Last Updated: 2020.06.05




Data and Benchmarks

Very good source to get some concrete benchmarks. Just be aware that this data was aggregated from Hubspot customers, so they have already embraced the idea of inbound marketing as an integral part of their growth strategy. (June 2020) 

 Hubspot: Marketing and Sales Benchmark Data


Leadership

covid-19_strategy-sales-marketing-insights_2

The advice offered here is good leadership advice is the best of times. With COVID-19, the importance of good and strong leadership will make the difference on how strong your company will exit this pandemic. (March 19, 2020) 

 Gartner: 4 Actions to Be a Strong Leader During COVID-19 Disruption

 


 

Business Strategy

For those who think the new normal means going back to the old ways of doing things, this article points out that those companies who aggressively adapt and extend new ways of operating till be ahead in the game. For example, 70% of B2B buyers feel that virtual sales calls as effective as in-person calls for complex products.

 Bain: The New Normal is a myth, the future won't be normal at all

 

An outstanding article that explains the four strategic areas to focus on: Recovering Revenue, Rebuilding Operations, Rethinking the Organization and Accelerating the Adoption of Digital Solutions. (May 1, 2020)

 Mckinsey: From surviving to thriving: Reimagining the post COVID 19 return

 

 

A reality check on the economic recovery for COVID-19. Forrester provides a basic framework for evaluating two different scenarios and the factors involved in assessing the likelihood of a quick recovery.

 Forrester: Forecasting in Uncertainty

 

An excellent article from Boston Consulting Group to help you understand the three phases economy will go through and it ends with five factors that helped the Global 1200 companies navigate through the Great Recession. (April 2020)

 BCG: Win the Fight, Win the Future

 

After survival, the next big question companies need to think through is: What’s the new normal? It’s impossible to know for sure, but this is a thought provoking article on how COVID-19 could accelerate some of the current trends that were already underway. (April 2020) 

 McKinsey: The future is not what it used to be: Thoughts on the shape of the next normal

 

Like every crisis, there are distinct phases where taking the right action at the right time makes sure that you not only survive but thrive. For me, the biggest thing for executives and business owners to think about is the retooling section of this article: How can you start planning now to guide your company into a better future. (April 10, 2020) 

 Bain: Covid-19: Protect, Recover and Retool


 

Sales

Pretty much all companies are experiencing a system wide shock to their sales organization. From the sales pipeline going dry, sales teams going remote and an uncertain economic outlook. Forward thinking companies will use this time to evaluate and upgrade their sales people, process and technology to emerge from this pandemic in a strong position. (April 14, 2020) 

 Bain: Keep the Sales Teams Reassured and Humming

 


 

Marketing

Every B2B company that had relied on in person networking, trade events, and on site visits to build relationships now find their sales team sheltered at home, with no clear timeline when social distancing will be lifted. Fortunately we live in the digital age where companies can (and should) make the shift to digital marketing to feed qualified leads to their sales team. (March 20, 2020) 

 Forbes: Why Companies Turn To Digital Marketing To Survive COVID-19

 

 

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Written by David Lee

As the founder of Do What Works, my goal is to take the best practices and lessons I learned from working with Fortune 500 companies and bring them to the mid-size market and help our clients grow their business.