Preserving Revenues in B2B Markets as COVID-19 Spreads
B2B Revenue Protection – Bain & Company offers advice to Business-to-Business (B2B) companies on how to protect revenues from COVID-19, including creating sales scenarios, mapping customer spending, and establishing win rooms for decision-making
Summary:
Bain & Company published article sharing practices that Business-to-Business (B2B) companies can adopt to secure their revenues from impact of COVID-19. Summary recommendations include:- Obsolete 2020 Forecasts – Chief Executive Officers (CEOs), managers and sales heads need to act decisively to cushion impact of COVID-19 on revenues, as earlier 2020 sales forecasts are now obsolete
- Build Scenarios for Sales – Re-categorize sources of revenue into high demand, secure, at-risk, and unknown by customers, product or service lines and geography, and forecast impact to sales
- Mobilize Win Room – Establish command center of executives who can make rapid decisions on who to deploy in critical areas, offerings to sell to target segments, and are updated with real-time intelligence
- Map Customer Spending – Create map of how much individual customers spend, which will inform coverage and capacity decisions, and raise return on investment from leads
- Integrate to Everyday Business – Use win rooms after crisis ends for boosting renewals, cross-selling, new products and offers, and speed and agility of operations
Company:
Bain & Company
Categories:
Customers, relationships and channels, Revenue protection and opportunities
Source:
- Preserving Revenues in B2B Markets as Covid-19 Spreads, Mar 2020 (Bain & Company)
Original publication date: March 27, 2020
Date last updated: April 15, 2020