While the other business took a hit (majorly all running by the standard FMCG distribution channels that rely upon warehousing and transportation)
Shops are shut. Distribution of barely a phew essential pharma giants are taking rounds. But the households still run!
This is the period where the household members, amongst the society members (neighbourhood, peers, relatives, and create a good marketing channel for manufacturers that need an edge beyond price. A network-based marketing that runs purely by relations! Credible enough that we need not say it multi-level). Of course, the goods must be safe to consume.
I often speak over a golden rule : a person takes a purchase from an entity who has something to lose when things go downhill: a relation, a reputation to upkeep and of course – being the seller as close enough as next door that gives the purchaser to possibility to grab the collar
Cold Storage will erupt! Whether people find logic or rebuke over the possibility of the pandemic striking again – the pandemic still stays one of the many other causes that can all arrive at the end result as of today: possibility of necessities like food items, medicines and OTC goods exhausting when needed the most. Stocking in bulk also has a risk, of necessities that are perishable or shorter shelf life. Cold storage henceforth may penetrate from the city outskirts, a little bit now closer to the suburbs
Channel-based alliances should be kept handy. You may never know, you run a mega spice manufacturer but may have to tie up with an informal Ayurveda or well, a farsan maker– when your vehicle can’t legally make it past the warehouse, possibly their delivery persons can cycle to the homes. These informal chains do the necessary to bypass the regulations to deliver the necessities to earn their bread and butter. You too, share the same objective by the end of the day. Risk can further be reduced with an online purchase order where the pre-existing middlemen do not financially get bypassed.
Not to forget! When field visits aren’t happening from the lockdown, a perfect time to gather all the sales team together on a video conference that may go for a few hours , probe into their pitch, success, fails experienced – and the best thing is, imbibe the sale if (insert objection) -then (counter statement) then (call to closure (loss/buy/buy in future action)”. If it was a working day you would have risked losing sales of the day, wouldn’t you?
Our financial inclusion felt the jitters – of heavy business!
Aadhaar based banking, experienced 7x the usual transaction volumes. The Financial Inclusion segment has given a boost as well as some privilege of certification of us falling within essential services
In these ideal times, the businesses who do realize they will not be able to Go-To-Market, should invest their time in product redevelopment, that is if they have a clear draft on what’s to be done, what’s to be corrected. In case not, it’s still a good time! Every stakeholder – shall it be an investor, a well-known associate, any advisory group and even selected consumers – have the time to get them into scrutinizing the plus minus and even their personal unprecedented take over your offering. Leverage the fact that everyone wants to have their opinions heard and materialized. Could you do these in running business days? Would they have the time to invest their analysis in depth for your services then? Alongside, lesser the time, more the fee and just a hurried run-through analysis
I have experienced customers whose investments from the fat Indian weddings were significantly saved thanks to the restrictive lockdowns, and thankfully (for us) they had the budget to buy our services earlier than they planned.
Covid Advantages to all industries
A sensitive issue, but yes. On the sunshine side. Speaking on the hiring side in the conventional days you may assume the best performing talents are currently engaged in their respective organizations– and there would be an assumption that the most of the ones looking out openly are the resources who were not resourceful enough.
Hence, the resources would have to first be enticed with an offer that can’t be refused. Further, a waiting period of notice period. Also, likely, that the more resourceful, the higher the period?
In this present scenario of 2020 as we witness around severe revenue crippling due to the sales and logistics end – leading to furloughing, terminations and layoffs – Companies have now been forced by struggling revenue to look into their teams from top to bottom tier, study objectively who are the resources, slash employment of underperformers and – as we hate to admit, performers too.
Transparent assessments are a plus for the employees who otherwise grieve at the water coolers over lack of it. However, never a better time than now to consider recruiting , as most likely as a company you may have already charted out a new breakthrough marketing strategy, and as soon as the market opens up, you would want the performer ready with you without notice period wait. One firms loss by layoff is another firm’s gain to take off, make this count.
Hi. I’m Amit Sharma. With 4+ years of product management and key business majorly in e-Governance and Banking Technology, I speak international business on behalf of you in French, Mandarin, Business English and West Saharan English.
Do tell in the comments on what are your +1 opinions and observations over business in Covid-19.
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