COVID-19 IMPACT:

Sporting Goods

Industry Update: 29.09.2020

Vertical: Sporting Goods
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.

Sporting Goods, what are we seeing?

Covid-19 has had a significant impact on the sporting goods sector. During lockdown, bricks and mortar retailers were forced to find alternative routes to market or face significant losses. The competitive position for online sporting goods kept margins low whilst navigating the logistical challenges of maintaining stock levels during this unprecedented period. Some sporting goods manufacturers switched to making PPE equipment. There remains a strong demand for at-home sporting products within the fitness, recreational sports and sports clothing markets.

What do these businesses need to do now?

1. Adjust your business targeting

In the context of many businesses losing revenue since Covid-19, we are seeing customers do one of two things in the sporting goods sector; they are either making a
significant change to their customer profile / targeting and revising their
proposition. Or they are widening the net to reach a larger target audience and adapting their messaging.

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

NOT VIABLE

Telesales

NOT VIABLE

Paid Search

PARTIAL VIABILITY

Networking dinners/drinks & Partner Events

NOT VIABLE

Tradeshows and Exhibitions

NOT VIABLE

Radio

PARTIAL VIABILITY

Awards Circuit

NOT VIABLE

Digital Outreach i.e. B2B prospecting

VIABLE

3. Revise your proposition

If you are widening the net to reach a larger target audience, then your proposition should remain broadly as it is, assuming of course that you adjusted it at the beginning of Covid-19. If you did not then, now is the time to focus on your credibility / experience, flexibility, speed, quality, and sector insight. If you are making a significant change to your customer profile / targeting and revising your proposition, then all the above should still apply providing it can be re-written to reflect your new target market. And you should add to this list if possible, to be visible and stand out from the crowd.

4. Revise your messaging

With the situation evolving quickly in the sporting goods sector, it is important that your messaging evolves just as much too. Whether you are widening the net to a larger audience, or targeting a new audience, your messaging should reflect on how your offering has changed as a result of covid-19. Ensure that your messaging explains how you can help customers / prospects with solutions to the challenges that COVID-19 is giving them. They may benefit from your sector insight to capture and service unmet demand. With high demand products and services, talk about service levels and accentuate on quality, flexibility and turn-around. Set out attractive commercial terms if able. Cash-flow is 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.

Watch Our Video Case Studies

“One of the great things about working with SoPro is the dedicated team of professionals we have at the other end of the phone... For us, there really is no question. Having a prospecting service is vastly more beneficial than just having the tool. Put simply, it’s transformed our business.”

Nick Washington-Jones, Managing Director, Tack UK

Our Totally Bonkers 60 Second Explainer Video

What better way to convey the surreal magic of the SoPro service than through an animated 60-second explainer video, starring a flying submarine. We commissioned the experts over at Sentio Space to encapsulate SoPro’s fantastical prospecting machine in under a minute. And we don’t mind admitting they totally nailed it.