What Does Your Client Need to Restart? The Great Restart (Vol. 2)
Sales challenges and opportunities
WHAT DOES YOUR CLIENT NEED TO RESTART?
Helping a client grow and improve their own business is always a much greater differentiator Swill always get preferential treatment when the time comes for a purchase decision.
Things to Consider:
- How has your client selling channels changed?
- What’s your measure for getting your current or new prospects to choose you?
- How will your sales reps need to change to be successful as you implement a fast start?
It's a great time to create a business plan for your firm’s specific customers and book of business. Think about the verticals that you need to penetrate along with what marketing tools will help you engage. Make a list of targets and develop a game plan for each with definitive action items. Social media, emails, etc. can be written and pushed out now so you can keep your brand fresh and top of mind. Plugin dates about other selling strategies to deploy when you know more about the timeline for the restart.
In later issues we’ll illustrate how to write case studies, white papers, and research leads. You can develop new ways to help your clients with their customer initiatives to help them keep their client base. You have time to write emails to clients to offer your help with their needs and objectives. And you definitely have time to check out webinar that will help and see what’s new and hot!! – Leslie
Business Challenges and Opportunities
THE CASH CRUNCH
As we move through the onslaught of COVID-19 on our businesses, one of the increasing impacts is the cash crunch. Customers are paying more slowly, or not at all. In response, we’re putting people on COD and tightening our credit terms. In the short term, these are sensible policies. However, we need also to be focused on the future, on the time when we’ll get back to normal. When that day comes, we’ll need customers. We’ll need the people who continued to buy from us in the depths and we’ll need ones who we could profitably serve.
If, instead of taking a hard-nosed approach to credit, we recognized the pressure that every firm is under and was willing to work to help them through the cash crunch by extending terms and negotiating structured payment plans that matched reality, would that not make them prime customers when the economy turned the corner?
Of course, the obvious question is how can we pay for this as our cash is short as well? The first step is to search out the enormous sums (trillions of dollars) that have been available by the federal government to address the crisis. Remember that only a small part of this is needed by your firm to make a difference in the strength of your future customer relationships. Remember also, that as the stimulus program’s bugs are being rapidly ironed out, these funds will be readily available on favorable terms.
The second step is to reach out to your suppliers to get their help. They have every interest in keeping you alive and helping you rebuild and grow your customer base. Their interest is in partnering with you by stretching your terms so that you can continue to buy and later to grow. Share your plans with them and work out a reasonable program that will enable your firm to retain the business that you both need – Bob