THE TOP BUSINESS ISSUES WE ARE HEARING FROM OUR CLIENTS DURING CRISIS
Top 3 business challenges are Virtual Selling, Lead Generation, and Improving ROI.
Recently, the IMF has forecasted a sharp 3% contraction in the global economy due to the COVID-19 pandemic. After speaking to our clients and hosting two successful webinars in April, we would like to share our insights we gained on the top 3 business challenges for sales and marketing since social distancing and global widespread lockdowns have implemented.
The statistics below were captured based on the live poll of 100+ attendees during our webinars.
1. Selling virtually without face-to-face interaction
B2B sales reps are facing challenges in adapting to the new reality of remote and virtual selling.
2. Lead generation & conversion
With customers researching online while slowing their buying decisions, largely offline marketers wish to quickly go digital-first.
3. Improving ROI of marketing investments
As per a CMO survey report, only 40% of marketers globally can confidently measure their ROI. Marketers will face further scrutiny to justify their marketing investments.
Sources: CMO Survey
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Maintaining customer
relationships
Keeping clients
engaged remotely
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Lead generation without face-to-face engagement
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Improve ROI
4 WAYS TO ADAPT YOUR SALES & MARKETING DURING THIS CRISIS
In crisis there is always the seed of opportunity regardless how dangerous and difficult the situation is. Just like the Chinese character 危机. Left stands for danger; Right for opportunity.
1. Virtual Selling
B2B sales has changed forever. Virtual meetings and presentations are the new norm. Adopt digital led engagements to reach out and maintain customer relationships.
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2. Adopt Digital First Go-To-Market
B2B should rethink marketing strategy. Meet your customers where they are today. Expand your reach using Digital First strategy to engage with your customer online when internet usage has surged by 60%.
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3. Product Innovation
Prioritize to capture customer insights and Innovate your product and value proposition. We are collaborating with subject matter experts to develop relevant Digital Programs to address the market needs.
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4. Optimise Conversion
As marketers are tightening their marketing budget, use data analytics and Conversion Rate Optimization to optimize marketing spend and achieve higher Return of Investments from different digital channels.
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Source: CNA
VKT BREAKING THE COVID-19 BARRIERS ONLINE PROGRAM TO HELP OUR CLIENTS TO OVERCOME THE PANDEMIC
To help our clients fully maximise their time and benefit from this stay home situation,
VKT is offering GO Digital and Online Training programs
In response to the COVID-19 situation, we want to do our part to help businesses to accelerate the transformation of sales and marketing during these challenging times. To help you adapt quickly to the changes in consumer behavior, learn more about VKT Breaking the COVID-19 Barriers program:
To drive brand awareness, generate leads and acquire new customers, by having a digital marketing strategy
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To help your B2B salespeople engage and maintain relationships with customers remotely
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To improve ROI from different digital channels by using data analytics and conversion rate optimisation
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To reduce the revenue gap by uncovering alternate revenue streams for your business
Enterprise Development Grant is available for VKT GO Digital Program till the end of 2020.
[Local SG companies only: enquire about the grant here]
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Up to 90% support for COVID-19 impacted industries
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Up to 80% support for others
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In-house or customized online workshop can be made available to your internal sales teams.
Drop us an email at info@vktransformation.com and we can discuss further details.
ENGAGE WITH US TODAY
FOR MORE DETAILS CONTACT OUR TEAM
In response to the spread of COVID-19, we want to do our part to help you to overcome sales & marketing obstacles during this time. We are extending a complimentary 20-minute online consultation (limited seats) from now till end of May 2020.
Please fill up a short questionaire and your availability here: www.calendly.com/vktconsult/20min
Reach out to us and feel free to share our newsletter.
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Vivien Koh
Founder and Managing Director
Practicing Management Consultant
Sagar Roongta
Business Analyst
Sammi Chan
Digital Marketing Consultant