In case you have noticed, there is no turning back! As businesses resume out of lockdown, they are facing the “new normal”. For those of us operating in a business-to-business (B2B) context, this will be characterised by:
Unlike the pandemic, these conditions are here to stay. With 2021 on the horizon, now is the time to begin to plan as to how your SME will move forward. Your roadmap to business recovery and business growth should consist of three phases: Refocus, Reignite and Rise.
Get clear as to which industries, markets and business customers you will focus on.
To identify where your company should focus, undertake the following:
Identify what changes, improvements and/or introductions must be implemented in order to meet the current needs of your target industries, markets and customers.
Such improvements and/or introductions are referred to as business innovations and can occur in one or more of the following areas of your business:
As you may identify numerous opportunities to innovate across the business, you will need to prioritise which opportunities to pursue.
Some prioritisation criteria include:
Develop and implement the marketing and sales activities to generate revenues and business recovery.
The cornerstone or engine of your B2B business recovery and growth should be customer retention and expansion
Benefits of this strategy:
Key components of your B2B recovery strategy engine should include:
So, what are you waiting for? Meet with your team and start planning how your SME will reignite, refocus and rise to recovery, growth and future success!
Michael Haynes, B2B Customer Strategy Specialist and Founder, Listen Innovate Grow