In my 25 years in the B2B sales arena I have never seen a more testing time for companies. I have seen the loss of the single most important source of Sales & Market intelligence to any company. This intelligence is based on observing first-hand the total disposable dollar value in circulation, and where is it being spent.
Covid-19 and all aspects of the associated lockdowns, and restriction of trade, have led to changes in the domestic buying patterns, affecting both the company and their clients. It is now disjointed and dysfunctional at best, as a result of all these changes.
The loss in Sales & Market intelligence is in the form of access to the raw data collected through direct client contact and being active in a market, based upon freedom of movement and choices of the end customer.
To survive a post covid environment, sales leadership needs to look at how they can restore/rebuild new & existing sources of Sales & Market intelligence so they can best position the company, then achieve the targeted growth needed to achieve business survival.
Stay tuned for my next post on these challenges, and let me know if you have any questions or comments.
Comments worth noting:
Source Biz Drivers: Alan
It is, indeed, an interesting inflexion point, Alex Ross. My hypothesis is the COVID has pulled forward the tipping point where for a wide range of goods, online shopping has become the default rather than the "risky" alternative (we have generally been there for services for some time). This is the convergence of changing consumer behaviours, ever increasing market transparency and rapidly improving vendor fulfilment capabilities in addition to the market intelligence conundrum you point to.
Posted: Thursday 17 March 2022