In our recent KPMG paper, How to Maintain Sales and Pricing Discipline in a Downturn, we outlined how companies can build strong, strategic pricing capabilities in a recessionary environment so that they can excel in the recovery. Since publication, companies have faced waves of cascading challenges as a result of COVID-19.
While measures to stabilize businesses are surely top-of-mind, we believe that now is the time to think both strategically and tactically about sales and pricing capabilities. Doing so can help companies survive the downturn and start the recovery in better shape. With this paper, we focus on tactics to use right now to protect the existing business and improve win rates, despite the market environment.
For all companies, winning new business is good. Given today’s circumstances, winning behaviors are more important than ever. And, also because of the new economic reality, the bar is rising on what constitutes winning behaviors. For many companies, new sales wins are declining, profit-accretive wins are becoming elusive, and resources are strained; remote working arrangements impact the effectiveness of sales staff and the ability of customers to respond quickly.
In this article, we offer a timely perspective on how business leaders can expand their capabilities from simply chasing wins to winning “resourcefully”—capturing new opportunities with limited resources.
Learn more about how KPMG is helping our clients navigate the challenge COVID-19 presents here.