Explore Sales Renewal’s latest blog posts, expert advice, news, and commentary. Learn more about the features of our innovative blog here.
Sales Renewal’s Strategic Consulting Service Helps Law Firm Pivot with New Business Model
Sales Renewal is often asked to help clients wrestling with challenging strategic decisions, whether it’s adjusting their business and marketing strategies to their new Covid realities (something that has unfortunately become way too common), reducing their time-to-first-dollar from prospects in their pipeline or...
CEO confidence rebounds, fueled by decreasing pessimism, improving prospects for revenues [Q3 2020 Vistage survey]
Signs of life in the economy and an increase of business activity has led to an increase in confidence of small and midsize business CEOs. The Vistage CEO Confidence Index rebounded to 82.8 in Q3 from 62.5 in Q2.
Factors that contributed to the rebound from last quarter include (#5 is a double edged sword):
- 32.5% improvements in revenue expectations
- 29.2% improvement in profitability expectations
- 28.3% increase in investment plans, largely driven by a significant decline in contraction
- 25.4% improvement in workforce plans
- 10.1% improvement in expectations for the U.S. economy - from 93% of CEOs being pessimistic to 83% (still a worryingly high number)
How to Evolve Your Digital Marketing Strategy in times of CoVID-19
The following list of strategies and tips, compiled by our online digital marketing training team, will help your company navigate CoVID-19 limitations.
The ability to adjust your marketing strategy to meet unexpected demands or market conditions is the hallmark of good management. During these continued times of uncertainty, when every day brings new challenges, it can sometimes be difficult to see the “strategic” forest for the “tactical” trees that seem to need our attention every day. Sales Renewal works with our clients every day to ensure we keep an eye on the forest, ensuring that the underlying strategy is sound enough to weather this storm on multiple fronts, including digital strategies. Read more in this article by DMAC about how your online presence should adapt during the Covid era.
Despite Economic Uncertainty, Small Businesses Are Gaining Optimism
CEO confidence in their businesses is growing despite economic uncertainty, according to the July Vistage/Wall Street Journal survey.
We're going to start posting this WSJ monthly of Small Businesses each month.
The WSJ spun the July report as significant improvement but there's a glass half empty/full aspect to it.
Yes 75.% is a great improvement in confidence over 44.7% but it's still down 30% from where it was in Feb.
Q2 2020 North American M&A Report | PitchBook
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.
If you’re thinking of acquiring a firm to solve your revenue problems, we have potential bad news: 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 coal mine.” Quarter over quarter declines were 41.1% and 24.2% for deal value and count, respectively, compared to an already slow Q1 2020.
More Customers Are Shopping Online Now Than At Height Of Pandemic, Fueling Need For Digital Transformation
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.
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.
Webinar: Crafting Products and Services to Reduce Time-to-First-Dollar
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...
reCAPTCHA: Easy on Humans, Hard on Bots
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.
Beyond Coronavirus: The Path to the Next Normal
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.
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:
- 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.
- 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.
- 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.
- 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.
- 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.