While economic forums report of a constant dip in the national GDPs across the globe, several small enterprises have sustained the blow of pandemic and led by examples. Large supply chains, enterprise and retail corporations adopt the techniques of re-strategizing and resilience from these minor corporations and log profits into their accounts. A few simple steps made an impact, worth millions. What are they? Read away…
The economic upheavals that the COVID-19 pandemic has brought upon the business world are nearly unprecedented in all ways. National economies across the globe are struggling, innumerable industries have pulled their shutters down and the GDP seems to be having a free fall, quarter after quarter. Contrastingly enough, instances of businesses bouncing back into shape and surviving the blow of this pandemic with profits in their account have been on the rise as well.
While the front liners in the enterprise, software, and telecom industries were staggering between conventional BCPs, contingency resources and survival strategies, success stories were being written by small vendors in supply chain, e-commerce, retail, and entertainment industries. The willingness to readily let go of their conventional sales strategies along with quick adaptation to the newly arising demands of the situation enabled these mid-level vendors to keep their head above the water successfully through this pandemic.
A simple 5-step model followed by these corporations in achieving sustainability includes:
- Understanding that pandemic which can bring down the demand for one range of products and services, is bound to increase the demand for another.
- Identifying the areas of demand, influenced by the pandemic, and classifying them into the categories of necessity, comfort, and luxuries.
- Establishing a differential timeline of requirements for products and services under the categories of necessity, comfort, and luxuries.
- Gathering the potential and willingness for re-strategizing, rebranding, and revolutionizing their products as well as, sales and marketing techniques.
- Executing the new action plan and developing the potential for agile decision making and on-the-go disruptions.
The path of successful survival and resilience of small corporations such as Crown Castle, Lonza, Snap and Reliance Industries, transcended to be the action plan for the leading giants across industries not before long. Soon, even during the times of crashing economy, market champions like Amazon, Microsoft, Apple, and Tesla logged over $100M profits into their accounts and several others continue to tread the new path of success.
Building resilient sales teams that master the rule book, also capable and motivated to redraft the foundation of sales and marketing to suit the changing times, thus becomes the pre-requisite for surviving these unprecedented times. In other words, nurturing robust sales teams that not only know how to follow the prescribed path, but also when to depart from it to attain better results, gives businesses the greatest advantage.
Forever redefining the boundaries of sales enablement and market intelligence, Draup extends its service into finance calculations with its proprietary ROI Mapper and Cost modelling features. Draup’s Sales Enablement Platform thus emerges as the greatest repertoire of analysed data, resources, market trends, best practices, strategic insights, and company, location & industry level intelligence and aids its clientele in building ‘best-in-class’ sales teams.