Satisfying people’s needs and making a profit along the way is the purpose of marketing. However, people’s needs differ and therefore satisfying them may require different approaches. Identifying needs and recognizing differences between groups of customers is at the heart of marketing. In doing so it fulfilled the requirement and API is the main technoology to help you. It identifies the needs of your customers. This is at the heart of all good marketing, meeting customers’ needs profitably, and allocating finite resources in such a way that profit is maximized. This means not wasting time or resources on customers who would be less profitable, and treating the key targets not as one homogeneous population but as distinct groups with distinct needs.

COVID-19 has destroyed lives and livelihoods and continues to do so in many communities around the world. Although the full implications of the pandemic are far from certain, it is already clear that its economic consequences are dire. For sales leaders contemplating how to react, taking care of their people and customers must be a top priority. Even as they manage that reality, sales leaders also need to adjust how their organizations sell in the face of new customer habits and trying economic times. In many ways, the changes in customer behavior are an acceleration of digital trends that were in motion before the pandemic hit. My main findings are:

SPEND : While companies are generally reducing spend, a sizable number are increasing or maintaining it, with rates depending on company size, sector, and—more than any other factor—location in the world.

DIGITAL: Looking forward, B2B companies see digital interactions as two to three times more important to their customers than traditional sales interactions.

REMOTE : Almost 90 percent of sales have moved to a phone/web sales model, and while some skepticism remains, more than half believe this is equally or more effective than sales models used before COVID-19.

B2B and B2C Route-to-market and shift in distribution towards online is also one of the most prominent shifts occurring in the world of commerce today. The expansion of B2C capabilities within traditional B2B companies whether through a full B2C rollout, or through advancement into more consumer-focused online purchasing experiences, companies are rapidly expanding into new sales channels. This paradigm shift is being driven by a few primary factors for companies in the B2B space.

About B2B and B2C developments: High levels of economic uncertainty prevail worldwide, and the construction industry tends to be significantly more volatile than the overall economy. I suggest that if things go well, construction activity could be back to pre-crisis levelsby early 2021. But longer-term lockdowns could mean that it takes until 2024 or even later. In the past, crises have had an accelerative effect on trends, and this crisis is also expected to trigger lasting change impacting use of the built environment, like online channel usage or remote-working practices.

OEM/brand view on future distribution: The Circular Economy is a blueprint for a new sustainable economy, one that has innovation and efficiency at its heart and addresses the business challenges presented by continued economic unpredictability, exponential population growth and the escalating demand for the world’s natural resources. The time is coming when it will no longer make economic sense for ‘business as usual’ and the circular economy will thrive. My thinking is in its infancy to see what works in practice and to understand the implications of reworking your business model.

Dr. Keskin | LinkedIn

Data Scientist

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