how to stop the global recession dragging you down
We’re all experiencing a dizzying sense of lurching from one unprecedented event to another.
It’s not your fault that converting leads into sales is getting harder. We’re all being hammered by the cost of living crisis. It’s affecting your own employees as well as your customers. So first things first, let’s get the house in order.
If you haven’t already, make some time to talk with your team beyond the typical appraisal/meeting setting. Don’t be worried about opening up a can of worms, you can’t fix everything. People are unsure of what is going on in the world and need reassurance that what they are doing matters. If your workforce is unmotivated due to the current uncertainty, it will have an effect on your business.
A report from Champion Health, which polled 2,200 UK employees, found that two-thirds (67%) were experiencing moderate to high levels of stress, while more than a quarter (28%) had seen their productivity negatively impacted within the last two years.
Here at Now|Comms, we used the Covid situation as an opportunity to galvanise what we do. We came up with some great ideas and developed new, game-changing products. How do we capture that same zeitgeist when there is a whole charcuterie of challenges ahead of us far more complicated than JUST a pandemic?
Inflation-proof SEO plan? Conflict resolution social posting? Carbon-neutral web hosting? It all seems a bit silly when many of us worry about being able to afford to heat our homes this winter.
Bain.com tells us that only 43% of sales organisations develop plans for a recession well in advance of one. Advance planning helps companies cut costs and gain market share. Some 86% of companies that create a plan well in advance focus on using the downturn to gain market share, compared with only 50% of companies that create their plan shortly after the recession hits.
So, what are you waiting for?