No one knows what awaits us in year ahead, but this is clear: we must prepare for 2021, accept that change will continue to be a constant, and expect the unexpected.
2020 has been unprecedented. The events of this year have left everyone wishing for the year to end. This anticipation is driven by the desire to get out of this time of unpredictable change that has weighed heavily on both our personal and professional lives. The events of this year have been a true test of our endurance and resilience.
As nice as it would be, we know that changing the calendar won’t immediately change our current circumstances. To survive, each B2B must continue to embrace change as a constant. The best preparation for the year ahead is to be proactively developing a concise, coherent, and flexible plan that is in line with your ever-changing business objective.
As we look ahead to the “Are we there yet?” time when the global pandemic and market anxiety are behind us, stay focused on the obstacles between where we are and where we want to be.
As B2B leaders, expect these things in the year ahead and plan for them:
Plan for the Unexpected
Look for and establish early warning systems and monitor signals to respond to changing conditions that might affect your plans. Use business reviews to evaluate all relevant internal and external performance indicators to identify the necessary steps for response.
Don’t Lose Sight of Long-term Value
When you focus on short-term wins, don’t lose sight of long-term value. Recognize that reputation and customer engagement efforts provide long-term value that supports your revenue engine in less obvious ways. As you plan your demand generation efforts back, use caution that you don’t dial those efforts back too far.
Understand the Pain of Your Buyers
Your buyers are also dealing with difficult situations. It’s been an emotional time, and many are dealing with challenging situations. B2Bs must understand the emotional drivers in decision-making and how they connect to the brand’s mission, vision, values, and purpose to be more relevant in the way value is communicated as they prepare for 2021.
Reassess Marketing Metrics
To understand customer impact, you must reassess your marketing metrics. Most organizations claim to be customer focused but, according to a 2020 SiriusDecisions Metrics Study, 70% of metrics used by B2B marketing functions demonstrate organizational value vs. customer value, and 64% demonstrate impact on the buying process vs. the customer lifecycle.
Create an Adaptive Operating Model
You must define adaptability as a core principle of your business and your way of working. Once defined, promote this principle actively and enable it consistently through the application of the right processes, tools, and employee development programs.
Regardless of how well Prepare for 2021, there is still a chance that you will encounter and unanticipated crisis that may take a hit on your cash flow. Add Allied Financial Corporation to your plan. If you find that you need financial help, talk to us about an Accounts Receivable loan.