COVID-19: Strategy and brand

Your commercial challenges during COVID-19

COVID-19 continues to affect businesses worldwide, and has a significant impact on profitability. In many industries and sectors - but not all - rapid changes in consumer behaviour are (mostly) negatively impacting global demand. All sectors will experience varying impact on short- and long-term demand, as well as different speeds of recovery. 

Depending on the impact of the COVID-19, companies can undertake a number of actions for immediate stabilisation and subsequent recovery:

Your commercial challenges during COVID-19

Protect revenue

Stabilise

  • Closely monitor the sales pipeline and fluctuations in demand
  • Set up governance (e.g. daily sales check-up) for quick decision making on sales planning, communication and pricing 

 

Recover

  • Prepare delivery to prioritised segments when demand picks up
  • Assess customer experience and launch a targeted churn and win-back action programme

Capture online demand

Stabilise

  • Enhance your digital presence (e.g. online search, landing page) and capture online demand

 

Recover

  • Build or enhance your eCommerce capabilities 
  • Define your digital strategy and fit-for-growth target operating model

Engage with customers

Stabilise

  • Shift customer support to a remote, work-from-home setup
  • Connect with clients, show empathy and take actions to support them (e.g. no penalty for order cancellations)

 

Recover

  • Grow self-service capabilities and promote digital adoption
  • Monitor customer satisfaction along the customer lifecycle 

Empower your sales force

Stabilise

  • Ensure the safety and wellbeing of your sales force, perform daily coaching and reassure top performers
  • Set up remote working guidelines and tools

 

Recover

  • Measure and enhance sales force effectiveness via training (e.g. virtual sales playbook) and tools (e.g. digital signature)
  • Define your future way of working and culture, and realign your workforce

Optimise your costs

Stabilise

  • Restrict or freeze sales, marketing and general expenses
  • Reallocate sales and marketing budget on most relevant items

 

Recover

  • Embed structural cost-containment measures (e.g. travel allowance)
  • Optimise channel mix to reduce cost-to-serve and cost-to-acquire

 

Want to know more about the impact of COVID-19 on demand?

Our PwC experts analysed the impact of the current crisis on demand and customer behaviour, and bundled their insights in the report ‘Impact of COVID-19 on demand: How can B2B organisations protect revenues and build a commercially strong future?’ 

Have questions or want more information on how you can stabilise and protect your business through commercial effectiveness? Don’t hesitate to get in touch.