5 Strategies to boost marketing and sales resilience

Efforts to increase sales could be more profitably invested in your marketing team. Here’s how to build capabilities, grow confidence and position your marketing team for recovery.

We believe industrial sales and marketing leaders could better use this time as an opportunity to invest in their marketing and sales teams. By thoughtfully building up their capabilities to leap ahead of competitors as the new markets present opportunities and local economies recover.

Research and experience back this up. There are McKinsey studies examining the performance and strategies of approximately 2,000 companies between 2007 and 2017. These studies reinforce how critical it is to stay focused on marketing dedicated to growing revenue.

To drive revenue growth, we recommend industrial companies execute these five strategies:

1 – Modify Marketing and Sales Objectives.

Given the uncertainty around economic and market recovery, industrial companies should consider basing their new targets on a multiple set of options. This approach will allow speedy and realistic changes to marketing and sales expectations as options shift in response to key indicators.

2 – Rethink Strategic Intent.

Take inventory of your key strengths that can be leveraged to make the biggest difference right now. Industrial companies can shift their strategic intent to match their marketing efforts. Taking meaningful action now, during uncertain and volatile market conditions may help deliver unique solutions that stakeholders will value and remember.

3 – Invest in Sales and Marketing Capabilities.

With this huge shift towards digital, industrial companies need to have a think about what capabilities their sales and marketing teams need to succeed now and into the immediate future.

Investing time and money in building up systems, capabilities, and people, while also grooming them to succeed in the recovery. Clearly communicate your rationale with your marketing and sales teams. While the temptation may be to scale back, you run the risk of appearing that you are abandoning customer needs and market requirements.

4 – Engage Your People.

Involve your marketing and salespeople in solutions. Build a common sense of purpose with your people. There are always huge benefits in drawing employees together to tackle problems in new ways. This way they will own the solution.

Effective sales and marketing leaders share their vision with their people to receive feedback and input. When decisions derive from what your industrial brand stands for, it becomes much easier to convey confidence in positive outcomes.

5 – Leadership and Culture.

A flexible and nimble culture will ensure survival. In order to adapt to changing market conditions and new customer information, sales and marketing leaders need to make the right decisions quickly. When culture is aligned back to your strategic intent and brand purpose – your industrial company can only be strengthened by the outcomes of your decision-making.

Industrial companies are better placed now to bring power back to their marketing and sales teams – guided by purpose and stakeholder value. By following these five strategies, your actions may have the potential to leave a lasting, positive legacy with your marketing efforts.

If you’d like some help with your approach to industrial marketing, let’s chat.

Other Reading: Bubbles pop, downturns stop

INDUSTRIAL SALES ENABLEMENT GUIDE

Learn how to connect your best people with your best customers. We’ll help you lay the foundation for designing a successful sales enablement program involving 10 key drivers. Your Sales Enablement Guide provides the framework for improving sales performance to achieve sustainable sales growth.

ABOUT THE AUTHOR

Peter Zafiris is an industrial marketer and founder of Industrial Ideas. Having built his experience in B2B marketing from the ground up, Peter understands what it takes to succeed with your marketing strategy. All client projects are personally managed by Peter to help industrials like you get the return on investment you deserve. Peter and team, work hard to become an extension of your business, to help you get the most out of your marketing efforts. Get your free 30 minute marketing consultation to learn more.