The Coronavirus is affecting businesses across the world, of all sizes, and in all industries. But just how is it affecting those industries – and are all B2B brands experiencing the same impact?
We reached out to our network of B2B sales reps, managers, business owners and business development employees to find out what impact the Coronavirus, and lockdown, was having on:
- Their sales opportunities
- Their job prospects
- Their outlook for the year
- How they engage with customers
Here are the results so far – and the data is clear: Coronavirus is already having a HUGE impact. Let’s take a look at some of the data:
- 73.9% of B2B sales roles surveyed said that their sales opportunities had decreased since the Coronavirus outbreak – however, 26.1% reported a jump in sales opportunities.
- 50% of respondents said customers postponing purchasing decisions was the biggest struggle, followed by not being able to meet face to face with customers at 25%.
- 37.5% of B2B salespeople surveyed said they weren’t confident about their sales job – however when we asked them what their biggest fear overall about the Coronavirus and their industry, not one person cited losing their job as the main concern.
Some industries are clearly struggling with the impact of the Coronavirus, but our research showed us that there actually some sectors who are weathering the storm – particularly those in telcos who are busy helping companies deliver more robust homeworking solutions for their staff.
But what is reassuring for many businesses is that whilst there has been some negative impact on some organizations, there are still some companies out there whose businesses are still going strong, or are even doing better because of the Coronavirus and the new ways of working, interacting, and consuming that the lockdown has created.
Our plan is to keep revisiting these questions to track the changes in the market every few months, to uncover trends in B2B sales activity and to find out how sales reps and account managers are working under very different pressures to even just a few months ago.
Check out the full infographic below for more insights on how the Coronavirus is impacting on B2B sales activities and opportunities: