A nine-question survey was emailed in May to a highly targeted group of B2B media professionals in order to gain an understanding of how COVID-19 concerns and restrictions have affected sales and sales strategies in the industry.
A few highlights:
• A majority of respondents indicated that COVID-19 has caused B2B media customers to expect or request postponed orders (74%) or canceled orders (70%). Half (48%) reported the same was true for revised contracts.
• Many respondents reported lost sales (58%) and reduced revenue (68%) for their sales team.
• Commission uncertainty (60%), reduced motivation (44%) and layoff fears (34%) were reported.
• A smaller number of respondents reported furloughs (16%) and layoffs (12%).
• Respondents also reported that company leaders were implementing a variety of strategies to support their salespeople; more team meetings (58%), increased C-level interactions with staff (44%), personal coaching (34%), awards and contests (10%) and crisis management training (6%).
The complete survey results are available by replying to this email or sending an email to ksimonsen@mediagrowth.com.
MediaGrowth donated $5 for each response to an area food bank.
