A recession is coming
A recession is coming. That seems unavoidable. How big it will be is under debate, but we don’t care. Any recession is painful, even if it’s shallow and short. Start integrating sales and marketing now! What does that mean? Make your sales and marketing...
Increasing customer intimacy Increasing customer intimacy
I know the word seems like an odd choice, but that’s really what you’re going for with your customers - especially during a recession. You need to know about their lives, their pains, and the opportunities you can create that will keep revenue coming into your...
The Four Reactions to Economic Downturns by B2B Companies #4
The Four Reactions to Economic Downturns by B2B Companies #4 #4 - Progressive Companies These companies will create and optimise both offensive and defensive responses to a recession. They use data, intimate knowledge of their customers, and well-planned...
The Four Reactions to Economic Downturns by B2B Companies #3
The Four Reactions to Economic Downturns by B2B Companies #3 - Pragmatic This is a company that deploys both offensive and defensive strategies in a recession. The issue with a pragmatic company in this context is that the moves are often not...
The Four Reactions to Economic Downturns by B2B Companies #1
The Four Reactions to Economic Downturns by B2B Companies#1 - Prevention-focused This is the type of company that “circles the wagons...” They take defensive action to avoid losses and reduce risk. While this is an instinctive move, it’s one that can...
The Four Reactions to Economic Downturns by B2B Companies #2
The Four Reactions to Economic Downturns by B2B Companies #2 - Promotion-focused These firms are seeking ways to take advantage of the recession. This can mean taking offensive moves to find the strengths and weaknesses that need to be enhanced or reduced,...
No hibernating this winter.
No hibernating this winter. It’s typical for many B2B businesses to go into hibernation when business gets tough. That’s not the strategy of B2B businesses that thrive during economic downturns. There are four reactions that a B2B company can...
The C in STOIC framework stands for credibility
The C in STOIC framework stands for credibility. As your competitors retract into their safe markets, now is the time to reach out to those markets they might have abandoned. This is not the same as the pet projects I said to drop in an earlier...
The I in STOIC framework stands for intimacy.
The I in STOIC framework stands for intimacy. No. Not that kind of intimacy. The kind of intimacy where you know your customers well. Now, while you’re not desperate due to a recession, is the time to get to know your customer very well. Know their...
Ok O really stands for Opportunity
The O in STOIC stands for Opportunity. This is the third instalment on opportunities during a recession. Fast money is nice. Nearly every company looks for those products or services that put quick money to the bottom line. But! Be careful. Fast...
