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B2B Marketing in the Time of COVID-19: What’s Next?

Posted: 31 Jul 2020 08:08 AM PDT

Dealing with COVID-19 has made it a tough year for so many small businesses. There's a lot of talk every day about how the coronavirus has impacted (and financially devastated in some cases) small retailers and restaurant owners.

We don't hear as much about how the global pandemic has impacted B2B companies. How have they fared so far in 2020 and what lies ahead for them? Alex Rynne, Senior Content Marketing Manager for LinkedIn, offers some great suggestions and ideas about how B2B companies can survive the current crisis.

In her blog, she starts by suggesting we change what the acronym SMART (as in SMART goals) means. Instead of making sure your goals are Specific, Measurable, Attainable, Relevant, and Time-bound, she posts changing "relevant" to "revisable" but "just for 2020" because "what if revising goals is the only way to keep our objectives relevant and attainable?"

Rynne has a point—a good one. Instead of bemoaning missing our goals, why not reset them? The new goal, she says, is to "ramp up for a big finish to a consequential year." That, of course, will require a new attitude for some—one of positivity and hopefulness.

Before you start, Rynne says you should examine what you've learned so far in this tumultuous year.

Lessons learned

Not surprisingly, she says, we've learned that positivity counts. By that she means "thinking about what's possible rather than dwelling on what's not."

For B2B companies, she points out content is in demand. But it should be helpful, not opportunistic, she warns, adding, "The demand for helpful, difference-making content is higher than ever."

And she notes, if you can afford it, advertising in a down market tends to get results, since so many other businesses cut their marketing budgets to save money. If your voice is one of a few in a vacuum, your message stands out.

The good news is, these days you can take advantage of affordable marketing options—it's no longer necessary to spend a fortune to get your message out. The key is to focus on  digital marketing channels, particularly on the web and on your social media platforms.

"Organic [marketing methods]”, Rynne says, "will always be there for you. Regardless of budget, all marketers are empowered to build online communities that feel welcoming, and present opportunities for connection and inspiration."

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What to do now

While things have definitely changed—maybe not as much as you'd think—Rynne cites research that "shows no reduction in advertising's ability to connect with people, though … ads with certain characteristics connect better during an economic downturn."

So she advises, instead of throwing out your playbook, just modify and adjust it "based on what's in demand, [your] team's strengths, and available resources."

If you were planning to hold an event, for example, taking it online, Rynne says, "can be more successful." Holding events online, instead of in-person, can also save you a lot of money. And since attendees will not have to travel and pay for lodging and meals, they'll be saving too, which may draw a larger audience.

And yes, we are all well aware that things are still so uncertain, so up in the air, that it is hard to know or even predict what to expect for the rest of the year.

But Rynne says LinkedIn is already seeing more companies "returning to their regularly scheduled activities." She thinks the marketing spend will start to return to normal "because advertising during a recession correlates strongly with market share growth, and partly because advertisers' audiences are generally getting back into the swing of things." She cites data from the Great Recession of 2008 that showed businesses that increased their media spend during that downturn had a 4.5 times the annual market share growth.

Content counts

Rynne says customer stories and third-party validation will become even more important now, since credibility will be a bigger factor for businesses when deciding what vendors and partners to work with. The key is finding vendors with "demonstrated real-world success."

Businesses will need content that "helps them accomplish their changing objectives, content that's acutely focused on customer needs," Rynne says.

According to research from Forrester, content that is both credible and empathetic is more engaging and is exactly what customers are looking for today. And don't forget content today comes in a variety of formats, so be sure to explore them all.

What lies ahead

The coronavirus situation is still so fluid it's not possible to know how 2020 will finish up. But Rynne says "B2B marketers should prepare for the path forward by adopting a pragmatic approach to monitoring and meeting customers' changing needs."

RELATED: 5 Smart Advertising Strategies During the COVID-19 Crisis: Why You Should Be Spending More Right Now

The post B2B Marketing in the Time of COVID-19: What's Next? appeared first on AllBusiness.com. Click for more information about Rieva Lesonsky. Copyright 2020 by AllBusiness.com. All rights reserved. The content and images contained in this RSS feed may only be used through an RSS reader and may not be reproduced on another website without the express written permission of the owner of AllBusiness.com.

16 Essential Skills to Look for in a New Hire

Posted: 31 Jul 2020 08:00 AM PDT

Within an organization, some skills are far more valuable than others. If your business is looking to hire new employees, then determining if candidates possess these important skills should be the primary focus of your interviews.

Knowing what skills are crucial for an enterprise to grow and thrive can help you figure out if an employee is worth hiring, even if they aren't an exact match in other areas of the job description. Sometimes a company needs more than just the right technical qualifications from its employees.

This is why we asked 16 professionals from Young Entrepreneur Council (YEC) the following question:

What is one essential skill to look for in an employee or new hire, and why?

1. Resiliency

My team looks for people who are resilient and who can thrive and adapt no matter what happens. We look for people who have a track record of performing through adversity and can provide examples of performing well when faced with challenging situations. This has been critical to building a team that can get through the tough times together. —Diana Goodwin, MarketBox

 

2. Humility and perseverance

I look for two characteristics in a new employee: humility and perseverance. I want to hire someone who does not take themselves too seriously and has also experienced and overcome very hard times in their business or career. This creates the humility and, for those that come out of the other side stronger, perseverance. —Gregor Watson, Roofstock

 

3. Critical thinking

We love critical thinkers because critical thinking requires you to use your ability to reason. It is about being an active learner rather than a passive recipient of information. —Kevin Urrutia, Voy Media

 

4. Curiosity

We are always looking for signs that someone is truly curious in an interview. Curiosity is helpful in our company because every role needs to be learning about new clients and new industries on an ongoing basis. But really, for any job it’s helpful to have a healthy curiosity to want to learn as much as you can about the role and the industry. —Kelsey Raymond, Influence & Co.

 

5. Adaptiveness

Employees who are adaptive and are constantly aware of new trends show they have the ability to innovate. That understanding will allow them to think outside the box when facing certain challenges, which can lead to creative solutions. —Jordan Edelson, Appetizer Mobile LLC

6. Initiative

One essential skill for an employee or a new hire is initiative. It’s very important for the employee to take initiative in learning the things they must know in order to perform their work efficiently. It’s important for them to listen, to ask questions, review information, and learn about the way to do things in the company. By doing this, the employee later will be ready to propose new solutions. —Alfredo Atanacio, Uassist.ME

7. Reliability and no drama

We have a “no drama” rule at our company. No matter how talented the person is, they can’t create drama. Don’t bring personal issues to work, don’t bring in politics, and overall just be reliable. This will make for a better employee and work environment. —Peter Boyd, PaperStreet Web Design

8. Desire to lead change

For C-suite or leadership hires, look for that spark and desire to create real change in your business. In the current market, nothing is more dangerous than stagnating and becoming irrelevant to your community. Leadership that knows the landscape and is ready to spark positive innovation and change is truly valuable. —Thomas Smale, FE International

 

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9. Tenacity to learn

The biggest skill set anyone can bring is their tenacity to learn. When a candidate comes in with an aptitude to learn more and a desire to grow, it means they will be a value to your business. Through learning, they can teach others and apply what they know into the success of the team and the company. —Matthew Podolsky, Florida Law Advisers, P.A.

 

10. Listening skills

If your employees refuse to listen to feedback or take others’ opinions into consideration, then they won’t take the company far. You need team leaders who can grow with the company and bring it to higher levels of success, which is impossible when someone lacks listening skills. You must listen to others to learn new things and do things better. If someone refuses to listen, it’s best to move on. —Stephanie Wells, Formidable Forms

11. Open-mindedness

Someone who is open-minded possesses many desirable qualities. These people are flexible and are able to adapt when situations change or challenges arise. They are also interested in continuing to learn new skills and improve expertise. Since they are also typically positive-minded individuals, their ability to motivate others to see the bigger picture—and enjoy each step along the way—is priceless. —Blair Thomas, eMerchantBroker

12. Patience

I look for new employees who have the patience to learn. If you want to find someone worthwhile, you have to get team members who are willing to explore new processes, develop their skills, and find new ways to innovate. It’s easy to teach these people new skills and help them grow throughout your company. —John Turner, SeedProd LLC

 

13. Organizational skills

Organizational skills are essential in an employee. Employees must balance an array of tasks, be able to communicate with coworkers, and be able to delegate responsibilities to other employees, as well as set up meetings and calls. —Riccardo Conte, Virtus Flow

 

14. Strong work ethic

One extremely important trait that my new hires must have is a strong work ethic. I want people who will work hard, who will care immensely about the work they are doing, and who will be reliable, dependable, and responsive. —Jennifer A Barnes, Optima Office, Inc

 

15. Emotional intelligence

Emotional intelligence is a skill you need to work on to obtain and practice diligently. If your team lacks emotional intelligence, they won’t be able to work together cohesively and bring about positive results for your business. They need to understand where everyone is coming from in order to collaborate effectively. —Jared Atchison, WPForms

 

16. Communication skills

Being able to communicate well is a major skill for anyone. When it comes to hiring someone new, the ability to communicate can easily tip the scale for the person who’s doing the hiring. Communication can make training and onboarding easy. The new hire will fit in faster with the rest of the organization, and they’ll grow too, since they’re able to ask questions and discuss things. —Syed Balkhi, WPBeginner

RELATED: 23 Hiring Platforms to Help You Find Your Next Great Employee

The post 16 Essential Skills to Look for in a New Hire appeared first on AllBusiness.com. Click for more information about YEC. Copyright 2020 by AllBusiness.com. All rights reserved. The content and images contained in this RSS feed may only be used through an RSS reader and may not be reproduced on another website without the express written permission of the owner of AllBusiness.com.
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