COVID-19 IMPACT:

Chemicals

Industry Update: 29.09.2020

Vertical: Chemicals
Type: B2B
Covid Impact on Demand: Positive
Covid Impact on Ability to Supply: Negative
Viable Transition/Readjustment: Yes

We’re just ordinary people.

The business world now recognises that pandemic conditions are here to stay.

SoPro have direct access to several hundred B2B marketing operations, spanning 60+ verticals. In recent weeks we have seen major movement in global sentiment, shifting from defensive tactics to proactive strategy as realisation sets in.

We are now witnessing the largest and most complex change management project in the history of humankind.

The worlds businesses are rapidly readjusting to compete in a new world. Here’s how.

Chemicals, what are we seeing?

For an industry that touches nearly every product we all use on a daily basis, it’s not surprising that COVID-19 has affected the speciality chemical markets in different ways. The automotive, transportation and consumer products sectors have been the hardest hit, with some anticipating a short-lived dip and others unlikely to see growth for some time. On the other hand, demand for pharmaceuticals, food additives, and disinfectants have peaked and customers operating in these sectors are unsurprisingly reporting record outbound volumes.

What do these businesses need to do now?

1. Adjust your business targeting

Whilst we are not seeing a significant change in customer profiles or targeting, we are helping our chemicals customers reach out to a wider audience and win new contracts. This is important, now that global supply chains are being reconfigured and Governments are using stimulus packages to boost the economy and accelerate large scale investments. So if you are considering widening your net, talk to us, because we have significant experience here and can help you by identifying and sizing the expanded market opportunities based on exactly how your specific product or service fits within the chemicals industry right now.

2. Review your marketing channels
MARKETING CHANNELS VIABILITY
B2B Direct Mail

NOT VIABLE

Paid Search

PARTIAL VIABILITY

Tradeshows and Exhibitions

NOT VIABLE

Awards Circuit

NOT VIABLE

Word of mouth

PARTIAL VIABILITY

Social Media

PARTIAL VIABILITY

Digital Outreach i.e. B2B prospecting

VIABLE

3. Revise your proposition

Few chemicals customers are likely to require fundamental changes to their proposition. Instead, set out how you have adjusted to a post-COVID-19 World and be clear about how you can help quickly in high demand scenarios. We are seeing chemicals customers accentuate their experience, flexibility, speed, quality, and sector insight, though you should add to this list if at all possible, to stand out from the crowd, because in the post-COVID-19 world, the high demand sectors within the chemicals industry will be crowded.

4. Revise your messaging

With the situation evolving quickly in the speciality chemicals sector, it is important that your messaging reflects how your business is reacting. Focus on how you can help your customers and prospects with solutions to the challenges that COVID-19 is throwing up. Touch on capturing and servicing unmet demand. With high demand products and services, talk about service levels and accentuate on flexibility and turn-around. Set out attractive commercial terms if able. Budgets are a challenge right now.

5. Drop the experts a line

At SoPro, business growth is what we do, and we've got the tech and team to quickly generate a healthy pipeline for your business. Our expert team are ready to discuss your campaign today.

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Nick Washington-Jones, Managing Director, Tack UK

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