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M&A activity in Q2 2020 continued to decline as COVID-19 remained an unrelenting problem in North America, and especially the US. Nevertheless, certain sectors are seeing pockets of stable dealmaking.

Source: pitchbook.com

M&A activity in the second quarter of 2020 continued to decline,  with $336.8 billion over 2,025 transactions. This is a substantial decline from the record activity seen in recent years which the report calls “the canary in an M&A coalmine.” Quarter over quarter declines were 41.1% and 24.2% for deal value and count, respectively, compared to an already slow Q1 2020.

The trend shows that online shopping growth isn’t going away and that brands need to re-assess their digital offerings to create the best experience possible.

Source: www.forbes.com

Research is showing that even though stores and restaurants are slowly opening back up, shopping and ordering food online have continued to rise.  

If your business doesn't have an online presence or any way to offer your services online, now is the time to begin building out ways to reach your consumers better and conduct your business virtually. The road to getting back to normal is still a long one, so attempting to wait it out and avoid transitioning may hurt your business and cause you to lose clients. 

 

Business owners should be confident that their website is easy to navigate and offers clients what they need. Whether it's selling products or services, scheduling online appointments or delivering resources, your website should be a good alternative to conducting the same business as you would in person. If it isn't, consider making the decision to transition and contact Sales Renewal to see how we can help make you more reachable to consumers online. 

The Problem: Prospects Sit In Your Pipeline Too Long

Many service providers often have a single, all-inclusive service that’s presented as a binary choice: hire us for the whole service or don’t hire us. Because these services are typically important and consequential (e.g., wealth managers help save for retirement, lawyers defend against lawsuits, architects design bridges, ...) prospects are typically in no rush to make a decision. They like kicking the tires to be sure you are...

Source: www.google.com

Sales Renewal has implemented Google's newer, invisible reCAPTCHA on all our hosting clients' sites, as well as our own. This new technology improves the user experience of filling forms and reduces the friction of capturing leads, as well as adding an additional layer of spam prevention. Regular tech upgrades such as this are part of how we make sure our clients are best situated to increase their revenue.

The COVID-19 is not only an immense health crisis--it’s also an imminent restructuring of the global economy, but leaders can begin navigating beyond the coronavirus crisis.

Source: www.mckinsey.com

In answer to the question “What will it take to navigate this crisis” the authors call on businesses and governments to act across five stages, leading from the crisis of today to the next normal that will emerge after the battle against coronavirus has been won:

  1. Resolve: All those in leadership positions must determine the scale, pace, and depth of action required at the state and business levels and resolve to do what it takes.
  2. Resilience: A McKinsey Global Institute analysis indicates that the shock to our livelihoods from the economic impact of virus-suppression efforts could be the biggest in nearly a century. In the face of these challenges, resilience is a vital necessity.
  3. Return: Returning businesses to operational health after a severe shutdown is extremely challenging and the weakest point in the chain will determine ultimate success. The authors suggest using Northern Hemisphere’s summer months to expand testing and surveillance capabilities, health-system capacity, and vaccine and treatment development to deal with a second surge.
  4. Reimagination: Institutions that reinvent themselves to make the most of better insight and foresight, as preferences evolve, will disproportionally succeed. The crisis will reveal not just vulnerabilities but opportunities to improve the performance of businesses.
  5. Reform: Leaders in government, business, healthcare, the financial system, educational institutions, and more should think about what reforms are needed to avoid, mitigate, and preempt a future health crisis of the kind we are experiencing today and to strengthen the system to withstand acute and global exogenous economic shocks, such as this pandemic’s impact.

Collectively, these five stages represent the imperative of our time: the battle against COVID-19 is one that leaders today must win if we are to find an economically and socially viable path to the next normal.

We’ll admit: this is an uncomfortable subject to raise. Many of the people reading this will fall into one of two groups: (A) marketers who are struggling, in many cases because marketing budgets have been slashed, and (B) business operators who are up against the wall, many of whom see “severing a finger to save the hand” as the best available option.

Source: theclikk.com

For businesses that have experienced the need to cut nonessential spending due to the losses caused by the pandemic, marketing is usually one of the first areas to go. However, taking a deeper look sheds light on why investing in marketing is a good idea, if possible,  during tough times.

The Harvard Business Review found that companies that cut marketing costs faster and deeper than their rivals later have the lowest probability (21%) of pulling ahead of the competition once times improve.

If your business slashed its marketing budget, take time to look at the sources and reasoning in this article to think about bringing it back. Keep in mind that anything that is put off now, will need to be rebuilt later. Being able to adapt your marketing to the post-COVID will benefit in the long run, since your new strategy will already be built out.

The New Normal for Business and Marketing Strategies

As businesses around the country try to assess what’s next after the big Shut Down, many are realizing that it won’t be “business as usual”, not just because of the reopening guidelines imposed by the government, but because customers and clients may not feel comfortable reentering the same old economy and now have a brand new set of expectations around service...

The market has three things its debating among itself. When it comes to life post-pandemic, three are top of mind.

Source: www.forbes.com

Interesting take from an economist on 3 key changes. The last one is particularly scary for Sales Renewal clients:

  1. More Saving, Less Spending
  2. New Supply Chains
  3. Small Business Looks Scarier
  • "Right now, trial lawyers and ambulance chasers are busy filing suits against businesses opening up before quarantines are lifted, citing a danger to public health. Others are suing nursing homes. This becomes a whole new insurance risk going forward — making sure someone doesn’t try to sue because they went into your store and came out with a 101 fever the next day."

Commentary: Government intervention, a contact-free economy, and automation will all define the new normal.

Source: fortune.com

Now that many of the worst-affected states are beginning to reopen their economies, we are all realizing that the post-pandemic world will be very different than it was just a few short months ago. We can expect increased government intervention as a result of the huge stimulus and bailout payments, and greater emphasis on promoting “an economy that serves all Americans”. According to the authors, the seismic shift to a contact-free economy will be seen in three areas in particular: digital commerce, telemedicine, and automation. All businesses need to rethink their business models and the name of the game is resilience. Companies will have to build, or strengthen, backup and safety plans, step up succession plans, and expand work-at-home capabilities. The good news is that the authors also anticipate some positive outcomes as a result of these changes. Sales Renewal is talking to a number of our clients on how they can adapt their businesses for success in what is being called the new normal.

Large-scale gatherings are on hold for the foreseeable future. That is taking a toll on the live events industry and society at large.

Source: www.nytimes.com

Large public events and trade shows will probably be on hold for a long while. "Curated" events may be a very viable replacement: regional, minimal contact events with invitation-only participants in brand name venues and controlled environments.

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