Lenin said "There are decades where nothing happens; and there are weeks where decades happen"
We are in uncharted waters, Covid19 has thrown us off course, where once we could follow, now we have to lead.
So How Do we Lead?
As a business leaders we have to take decisive action. I suspect you already understand your cash position and have worked out who to furlough, who to lay off and who you are going to keep on. I'm guessing you have already worked out your "fact base" pipeline and have worked out how much cash you have.
You probably need to keep a 90 day horizon as none of us know when we will be able to go back to having face-to-face meetings. What we do know, is that it won't go back to the way it was before.
Let's take conferences, even if a vaccine is fast tracked, we have to get the vaccine to 60% of the population and after all we have been through, will people really want to get together in large crowds? Governments are already saying that conferences, events, concerts won't happen in 2020.
There have already been events where they turned into "super spreaders" and you don't want that burning away your brand equity.
You Need an Exit Plan
Now is the time for your business to invest in your people, to get them the digital skills and the communication skills they need in this new world of no face-to-face meetings. You team have the time and you should be investing in them, so they come out of this with skills that makes your business stronger and fitter.
We are running a number of webinars on social selling and it's clear that there is a digital divide between the companies that have already invested in things like social selling and what we call "analogue companies'. We get a constant stream of sales people contacting us, desperate for their leaders to do something.
This is not discretionary spend, this is investing in your business future.
I'm not talking about giving everybody Zoom or Teams, that is a given. I'm talking about how we can market and sell in this "new normal" and in the future state world where some of the restrictions are lifted.
We know things won't go back to where they were. We know this new world order will need us to work differently, connect differently, market differently and sell differently.
It will also give your teams a sense of purpose.
This requires you to teach them social selling or modern selling many people call it.
Before we go any further, social selling is about a change of mindset and a change of habit. Just as using Zoom for meetings requires different mindset and way of working.
Our social selling program will make sure your sales people are able to make (at least) one meeting a week using social. Many can make more, but let's keep things conservative.
Let's conservatively say that your sales people can convert those meetings into one sale per quarter. That's four more sales per year.
If your average deal size is $100K, that gives you an additional sales of $400K per salespeople. Or $4Million for 10 sales people.
Now of course, you can make more meetings in a week and you can increase your deal win rate. This will increase your ROI, the more meetings, the more wins the more revenue.
We haven't "just pivoted" to social selling this is what we have been teaching people for the last 4 years and our programs are predictable and repeatable. Everytime we run them we get the same result.
So now is the time for you to lead and now is the time for you to lead with a tried and test methodology that will get results now and will get your team fit for whatever else is thrown at us.
Contact me, on social https://www.linkedin.com/in/timothyhughessocialselling/
When the economy starts up post-coronavirus, many brands will need to be reenergized. Plan now for post-coronavirus revitalization. According to consultancy McKinsey (“How marketing leaders can both manage the coronavirus crisis and plan for the future”), “In a crisis, it’s natural to focus only on the near-term business results and adopt a pure survival strategy. But that could mean winning the battle but losing the war.”