Commercial excellence amid COVID-19 and after has been saved
Commercial excellence amid COVID-19 and after
Beyond flattening the curve
How are companies influenced by the current crisis and what are their most common commercial challenges? How can commercial excellence play a crucial role in defining the right actions to mitigate and avoid negative impacts on bottom line results?
Only a few would have predicted that the cause of the next economic downturn would be a virus. Setting aside the human toll it is taking globally, the COVID-19 pandemic causes significant disruptions to the way businesses operate. The many unknowns surrounding the virus – such as the duration of its spread, the possibility of additional waves and the volatility of demand and supply – make it difficult for companies to adjust and plan for the future.
Rapid response to these new market conditions is required and product as well as service companies are forced to implement immediate measures. Apart from cutting non-essential costs, a strong emphasis is put on minimizing the impact on sales volumes.
In order to attain this, companies often fall back on simple measures like lowering prices. Although these commercial tactics can generate short-term results, in the long run your margins as well as the value perception of your products and services can be hurt significantly.
At Deloitte, we strongly believe there are many commercial alternatives that can both safeguard short-term revenues and profit as well as enabling long-term profitable growth.
To help you navigate through these rough times, we gathered our experience into a concise recommendation, supporting you in making the right commercial decisions during and after the COVID-19 crisis.