Reassess your services
Most logistics businesses will face the upcoming recession. And we all know what happens during a downturn, fierce competitive battle kick’s in. And we all know that the competition in the logistics sector (I’m not talking about all segments and all countries) wasn’t easy before the dammed pandemics, but it will increase even more. Superior services and high quality will be crucial; that’s why an honest service assessment is needed. If someone in your company will do the evaluation, there is a big chance that the review will be wrong; we highly advise to order this service from a third party. Doing the assessment, you need to pay attention to quality, promptness, employees’ experience, ability to solve problems fast, choosing the right customers persona’s, and much more.
If you will find out that your services aren’t needed anymore, it’s time to pivot. For instance, your company has provided storage services for a retailer that went bankrupt. Now you need to find new customers to fill the void. There are two options here. First, to acquire new customers from the same profile or look for other possibilities, like adding some e-retailers.
However, companies need to be sure that they will be able to use all those upcoming possibilities. Suppose your company is an operation of 2 people, then it will be hard to find and use out emerging opportunities. Let’s face it it’s sales development is and challenging and time-consuming job, as you need to prospect, qualify leads, perform sales calls, send quotes, and many more. For this to happen, you will need sales development representatives, account managers, and maybe even marketing managers, and of course, salesmanship and marketing knowledge will be required.
Secondly, you need to assess is your personnel able to acquire new markets. Ask yourself do they have the knowledge and skills. In other words, will your employees have the guts to develop new business? It’s not the same as working with old customers, who were growing together with them.
Thirdly, you need to be sure that you will be able to deliver the services for your new market.
If you can provide, but you lack needed personnel, please look for online tools that will help to automate your sales process (email, prospect gathering, other process automation tools). Or you can hire a third party, which will do this cheaper than you can do this in-house