Covid-19 is the most significant ‘black swan’ event in a generation. Few businesses were able to accurately predict the onset of the virus and even fewer were equipped to deal with the eventual fallout. We have seen mass layoffs, lockdowns, and the largest economic contraction since the Great Depression and increasingly organizations are not looking at their growth, they are looking at survival.
Industries – whether B2B or B2C – are struggling to keep up with the aggressive nature of the disease and, as such, consumer confidence is falling as the global cases stack up. The prospect of a vaccine is still eluding medical experts and as the IMF warned back in April, “until such medical interventions become available, no country is safe”.
Covid-19 is now a global emergency. As lockdowns have lifted, we’ve seen R Numbers increase worldwide and as we approach the end of 2020 it’s foreseeable that we may have to return to lockdown once more. The question is, what should businesses be changing before this eventuality plays out? By driving lead generation in a digital-first world, enabling the seller to engage the informed buyer, and redefining the sales culture in the ‘new normal’ businesses can better position themselves for an uncertain future.
Lead Generation Techniques in a Digital-First World
You will be hard pushed to find a business whose lead generation has not suffered at the hands of COVID-19. With travel bans preventing meetings with clients and prospects, face-to-face conferences being cancelled and businesses putting in place plans for the reduced workforce, what does all this mean for your lead generation efforts?
In short, it means that you should be investing wherever possible in your ability to reach your consumers wherever they are, to help them make the purchases they can no longer make face-to-face. To that end, you should be looking to drive lead generation through digital technologies.
Defining a digital approach that adds value has become the ‘new normal’ amongst business operators and it is not hard to see why. Pivoting to a digital-first strategy helps to create more channels by which you can reach potential consumers and activate them, additionally, customers expect an organization to have some sort of digital outreach initiative – the businesses that don’t are often considered suspect or outdated.
The best and most effective way for the modern organization to drive lead generation in a digital-first economy is by building upon its e-commerce potential. According to Statista, during 2019, the global B2B market generated six times as much value as B2C services were able to, with a total of $12.2 trillion. In 2020, this will rise even higher due to the tenuous position of in-person revenue generation opportunities. However, it is possible that B2C could catch up significantly considering the scope of consumers working from home and using retail therapy to cope in the face of the pandemic.
We’ve also seen the desire to learn about the digital-first economy skyrocket since the earlier stages of 2020. Unsurprisingly, in response to the coronavirus outbreak, brands in the United States have reallocated resources from live events to webinars. In fact, it was found that between February and March 2020, the number of brands offering webinars grew by 36%, from 245 to 332.
To learn more, download the full report here or continue the debate either at the RevGen Insight Summit EU or Revgen Insight Summit NA, two GDS Summits where we bring together senior sales executives who are actively seeking to share, learn, engage, and find the best technology solutions.
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