COVID-19 IMPACT:

Research

Industry Update: 29.09.2020

Vertical: Research
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.

Research, what are we seeing?

We are seeing significant disruption to the research sector with existing projects and new briefs being paused, modified and accelerated across many client sectors. Definite opportunities to reach out to new prospects and a great time to strengthen existing relationships with proactive research suggestions/solutions.

What do these businesses need to do now?

1. Adjust your business targeting

There is a clear desire across all businesses in all verticals to better understand the changing landscape.

We are seeing an adjustment in targeting as research suppliers reach to tap into those sectors experiencing implicit high demand (government, food, transport, medical supplies, cybersecurity) as well as those sectors that are pivoting (retail, manufacturing, professional training) to overcome demand or operational challenges. Even those industries that are currently frozen (travel, tourism, face to face services) are investing in better understanding the likely resumption timeline and new demand patterns to expect post lockdown.

 

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

Identify those sectors that you can service. Given the high degree of similarity between differing businesses research requirements right now, consider the primary research tranches likely to be undertaken and invest in producing a high standard of widely relevant research (I.e. understanding changes in sector specific buying behaviours over the coming 12 months), that information will be required by multiple clients and can be better commercialised.

Think about how COVID-19 has affected businesses and what their immediate problems are. Accentuate the competitive advantages that you can offer, including your expertise in this area, explaining why these are important now. Tailor your offering to attract immediate enquiries by highlighting availability and/or speedy turn-around times.

4. Revise your messaging

Forget your standard intro… Revise all messaging to set out how your proposition directly contributes to overcoming their current COVID-19 business impact.

Key topics of interest are informing sales and marketing strategy and timelines, informing product/service dev strategy and understanding the COVID-19 impact on competitors and landscape at large.

Be clear about the experience and insight that you can bring to the table in that regard. If you have online content such as case studies that prospects can read or watch, then make sure it’s readily available and tailored to the sectors you are targeting.

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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