Pandemic Survival: A Rise of a Downfall of B2B Manufacturing Firms

After the huge blow served by COVID-19 on a global scale, commercial production, economic conditions and sales activities of B2B manufacturers had to take the back seat and suffer grandly by the rapid changes which have taken place. Due to the lack of a digital presence especially for the businesses dealing with traditional industries, e-commerce has proved itself as a major savior and become a blessing for these companies amid tough and sensitive times. 

Although the progress is slow, e-commerce has enabled distributors of products and services to buy from the comfort of their houses while staying safe against the coronavirus epidemic.

Under the current uncertain situations, even after a series of national unlocks going on, jumping into this messy situation without any plans is similar to jumping into the fire which means further chaos. It is best to wield some tools that could help in dealing with the uncertain future by easing the path a little.

What are the 3P’s?

To help improve the conditions during these hesitant times of slow commercial progression and economy, it is necessary to remember the 3P’s provided by Mr Micheal Majeed, a consultant and executive experienced in the financial service industry based in Toronto. He shared the formulae of 3P’s that could prove as a useful aid for B2B marketers.

The 3P’s provided by Mr. Micheal Majeed are Priority, Productivity, and Positivity. Here’s an explanation on how to use these powerful terms to uplift the situations:

Priority

The priority here means to prioritize significant tasks over other minor and unnecessary tasks

  • Prioritizing your daily tasks by their level of importance doesn’t only enable smooth functionality but also helps you to achieve more by wasting less of your valuable time.
  • Prioritizing your tasks ensures not just individual but organizational success and growth, as well as allows you to spare time for other things. It also saves efforts, reduces any extra or unnecessary expenses and ensures a clear focus on revenue-generating operations.
  • A planned focus on increasing sales, catering to the demands of clients and providing them additional services and delivering those services are some of the things a B2B manufacturing business could do to ensure a pandemic survival for their business during these highly competitive times.

Productivity 

Productivity here means to stay productive during these tough circumstances. Without a doubt, staying productive is of the utmost importance when it comes to a company and its employees. 

  • Despite the major hit, pandemic survival is possible with productivity which ensures the continuity of production which thus leads to business and economic progression. 
  • Whereas an economic downfall has already affected functionality rapidly during recurring national lockdowns earlier, the recent unlocking phase of offices has still not enabled a stable situation for businesses. More than ever, focusing on productivity is extremely vital for paving a way for changes and transformation to occur in manufacturing, marketing and distribution activities.
  • Studying and analyzing the market situation, adopting strategies to adapt to the same, creating a monthly sales target, planning an economic overview and keeping an eye on world issues are some of the areas which can be used to form strategies which could help boost the productivity of the company. 
  • Planning and getting prepared for the future will provide direction and motivate employees to work harder.
  • Goals when followed with commitment and consistency lead to more productivity, better performance and offer a greater chance of success. 
  • A goal-oriented persistence for success is the only answer to tackle this epidemic and add more value which will form a path for more business ventures and activities in the future.

Positivity

Keeping a positive mindset and mental attitude. 

  • As the popular saying goes ‘what you think, you become’, similarly a negative perception will not just affect your perspective but also affect your co-workers and clients. 
  • Keeping a positive attitude is necessary for maintaining harmony in your work environment and also necessary for daily productivity.
  • Any disruption could be infectious to the working environment. It is important to stay confident and focus only on productivity. 
  • Uncertain times are sure to come and unavoidable. Even throughout history large plagues have hit major cities and countries, and caused chaos but businesses were still able to overcome them through the course of time.
  • Each individual should start every day with the willpower to face any challenges or daily struggles thrown in their way and focus on getting solutions. 
  • Also, try not to avoid any roadblocks. Cultivating this sort of optimism within employees brings more chances of success and better things to take place in future.

The 3P’s come as a blessing for the B2B manufacturing companies that have suffered gravely from losing their usual smooth flow of functioning and synchronized activities with their distributors. The 3P’s: Priority, Productivity and Positivity are to be remembered and kept in mind in order to boost activities and bring back the commercial state to a stable and ideal situation and mainly to make pandemic survival possible.

Also Read: Account Based Marketing (ABM) For B2B Manufacturing Companies

Survive and thrive in the most authentic way

A B2B could be delicately intricate to handle, especially after a pandemic where the sales may have differed tremendously. This is no reason to lament or fear as a service providing B2B, the team must thrive for the best outcome from the worst situation. Hence, we’re here with few pandemic survival hacks we follow.

Efficiency and Sustainability

I believe all the small things put together neatly bring the bigger picture close to the idea of perfect.

For instance, one evening I happened to stop by around an area whose surrounding has big glass IT, MNC, BPO’s etc. buildings for a snack. The small stall in blue near me seemed welcoming, I got my egg and bread as I watched the shopkeeper play his symphony of daily wage. His stall, 2 feet in length and 1 in breadth, contained a frying pan, precooked rice, idlis, cigarettes and some stationary all to sell.

I was immediately taken back by his understanding of the customer base, and more importantly his heart to make do with what’s available, bringing the best out of it. Like this man here we could all work towards bringing up a team even if small, simply efficient making the best out of each skill.

Adaptability

When a client needs changes due to unforeseeable circumstances one must adapt to look into a solution after the problem has been addressed. Making wise choices and turning things around, being on our toes. An obstacle must be looked at as a challenge, and faced with utmost love and excitement since the feeling of problem solving is priceless and rewarding.

Mental health as a team

Running a company involving other individuals is necessary for someone to take initiative to lead the team. That being said, there must not be abusive power instead empathy towards your employees.

Especially during a pandemic there must be exterior anxiety, that may or may not be sabotaging the performance of the employees. Keeping a well-balanced mental environment could bring out the very best from each employee.

The HR department must notice irregular behavioral patterns on an individual level with employees so they could be provided with the necessary support, enhancing the company as a team to problem solve and provide. We are all humans here, each one of us with a story, and listening and being there is the most humane thing one could do.

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CONCLUSION

Marketing and sales might have major issues to deal with and organizations are in withstanding the phase of teething problems. But one must keep in mind that a problem always carries a solution with it. This year should act as a serious wakeup call for all B2B organizations, especially manufacturing companies, to finally look at digital transformation with the urgency it requires with help of above-mentioned points.

And we make sure that your display game is up to par. With the help of comprehending we can become more resilient in the process.