Not more than a year ago the B2B sector was preparing itself for a faceoff with approaching recession. Smart enterprises were getting ready with their 2008 Great Recession survival kits to face the oncoming panic. Recessions are terrible for revenue and sales. In 2008, major businesses held back their expenditure on marketing, to face the economic storm. They lowered their prices to hype the sales and streamed their budgets towards product development. More than a decade later, we are here today facing the first of its kind recession for which the old recession faceoff playbook will not be fruitful to work by as effects of the current recession are augmented by a global pandemic.
Post- pandemic B2B Marketing →
The COVID 19 pandemic is a horrific man-made tragedy affecting billions of humans worldwide with the ground reality being that it will leave a deeper impression for a longer time. Therefore, the current B2B Marketers need such plans that can address challenges in various scenarios.
Considering the work from home framework made for social distancing, post-pandemic, there will be negligible opportunities for personal sales meetups. Consequently, the B2B e-commerce will be the only demand driving channel to keep the industrial engines running. Therefore the B2B marketers need to address enough their brand’s e-commerce channels by:
- Going Digital with updated Information →
The ongoing tragedy has transformed customer behaviours making safety their necessity. The phobia of spreading infections has altered the operations of numerous businesses and has compelled travel, product preferences, and entertainment-based businesses to re-strategize their executions.
Therefore to maintain the trust of your online customers you need to provide accurate, relevant, and fact-based product information on your channels. Use suitable links and rich content to sell your related products.
Make sure to mark the product as “sold-out” if it is the case. In case of an essential product, take the initiative to direct the consumers to other suppliers that may have the customers’ requirement in stock. Also, remember your moral obligation to make sure you have fair market prices and mention accurate delivery time.
The consumer movement is a challenge that you need to address post-pandemic. Notify your customers about your ample availability of packaging, products, personnel safety precautions, and provide them with delivery options. These steps will help you eliminate much of consumer annoyance.
- Evolving Customer Experiences →
With B2B businesses relying on in-person marketing events due to its high success rate, they will now have to deal with social distancing, the byproduct of this pandemic. In the past, where in-person events have played a crucial role in the company's success, the majority of businesses have now delayed, cancelled or even re-structured their in-person events to virtual sessions. Digital advertising, webinars, and virtual conferencing have taken over the whole marketing strategy and are now an essential element of the emerging virtual marketing. As a result of social distancing, Businesses are now required to shift to and invest more in virtual events.
Soon, we will come across the data that will reveal about the digital channels that will be the best replacement for live events. This will help the business to divert their budgets wisely. Also, after facing the devastation caused by the virus, highly affected businesses will not hop back to in-person live events, at least, not without having virtual platform backup.
- More Focus On Customer Experience →
Marketers need to instill confidence in customers by helping them through virtual channels. While lead generation and brand-building efforts of numerous businesses have been adversely affected by the pandemic it is important not to overlook the points businesses can still consider to grow and increase demand.
In this vicious pandemic where lives are at sake, Businesses need to express to customers how “ we are helping the community in these tough times” to thrive post-pandemic. The act does seem quite small, but communicating your compassion is a genius move. Avoid being a part of customers’ emails, posts, tweets, and ruling your client’s screens. People at this time are looking for compassionate and helpful information.
Considering the same, global organizations like Google, Facebook, Twitter, Microsoft, Reddit, LinkedIn, and YouTube have collaborated with governments and scientists to fight against the virus and related deception. Your organization can also assist in aiding the community which will help improve your customer base and help instill confidence in them.
This COVID-19 pandemic has affected the majority of industries at every step. Only the Businesses that have a higher adaptability will. Apart from adapting to uncertain marketing conditions, businesses also need to figure out the change in consumer behaviour with the current happenings.
Those B2B marketers who are willing to anchor digital technology to adapt instantly will lead the emerging marketing patterns. As per current conditions, it’s high time for you to stream your digital marketing and e-commerce investments. Act instantly to double your e-commerce presence.