Business & Executive

8 Tips to Keep your Business Healthy in this Challenging Time

By Pete Hayes | Sep 15, 2020
Business & Executive | ACHNET

45 Chief Marketing Officers Share Their Expertise to help you Adapt to a Virtual Business Environment and Keep your Businesses Running

While much of today’s information is centered on what companies are doing for themselves and for their people, our focus at Chief Outsiders is helping our clients and partners figure out how to maintain momentum in the face of adversity. No matter how long this takes we want to help you ensure that your business stays as healthy as possible so you can be ready to get back to normal, as quickly as things normalize.

Our entire Tribe of Chief Marketing Officers collaborated to distill the following set of practical ideas to help you continue to market and manage through this time of crisis:

1. Push Ahead, Prepare to Pivot: Continue to push ahead with marketing where it makes sense and adapt your strategy accordingly. Communicate honestly and keep your customers, partners and employees informed about what is really going on. Shelve the hype on past successes and focus on creating new and differentiated offerings. Move your events budget to PPC, ABM, Virtual Events and Webinars and invest in additional video production.

2. Watch Operations, Plan Scenarios: Move quickly to understand your true financial picture – reduce or delay loan repayments if possible – watch your cash flow. Manage your inventory carefully, don’t drive volume with discounts for now. Leadership teams should establish a framework for action, touch base daily and communicate frequently with employees and customers. Make sure your virtual work plans work – for employees and customers.

3. Plan for the Future: Stay focused and maintain a state of readiness so you can ramp up quickly when things start to rebound. Don’t panic, spend as much time analyzing opportunities as threats. Hold a steady course and look for competitive advantages that will best serve your clients.

4.Stay Customer and Employee Focused: Be proactive in communications on operational issues, product and service delivery and policy changes. Leverage