Although demand and operational conditions can seem paralysed in the short term during the current crisis, history shows that a rebound of demand is inevitable, albeit potentially at a lower level. In other words, companies that have a game plan ready for the medium term can come out stronger at the tail end of the crisis.
So what can we learn from these strong performers?
To take market share and position your company for a rebound, you should consider six key principles when planning how to not only ensure but also strengthen your commercial position during the crisis:
- Build a plan for where to defend and win market share during the crisis
- Stay close to your customers – and remember they are business partners
- Defend revenue –pricing can be a way to ensure revenue, but don’t forget the long term
- Prepare for a fierce battle for sale when the crisis has topped – planning now gives you the advantage later
- Ensure your channel readiness – and do it fast
- Prepare to transform your go to market model