2017 is the year that many of us were looking forward to for alot of things , particularly “Change”. Perhaps not in the context of Nigeria’s ruling party but I’m sure you’d agree that the ruling party played a role in giving the word more buzz and meaning than can be found in the popular Oxford Advanced Dictionary.
That said, 2017 is the year that some of us looked forward to positive change. we for a fact have heard lots of people anticipate a drop in the Dollar – Naira Exchange rate, cost of power & more. Its barely 24 hours till the end of Q1 but we don’t see the dollar moving anywhere below NGN250. In fact, it’s remained next door to 300 Naira for a while.
For Sales and Marketing Directors / Managers and decision makers, here are some important things to note:
The Economy isn’t going to get any better – Don’t get me wrong here. I believe in the possibility of positive change but the realist in me knows that the exchange rate won’t go back to NGN 160 = $1 anytime soon. We all need to brace up to this reality – if we haven’t.
Your numbers won’t get any smaller – As a sales person One would expect that the “not-so-good” economic situation will get us some level of consideration from management. I mean, that would be the fair thing to do but a wise man – or woman, I’m not sure about the gender – was quick to remind us that life isn’t exactly fair. So No, your target won’t get any smaller. Infact it’s likely to grow by 50+ percent.
The Budget will shrink harder – I’ve heard how other departments complain about Sales and Marketing departments being the highest spenders within the company so much that I can write a book on the complaints. But that’s not the issue here. Marketing and Sales may be the highest spenders but in 2017, lots of marketing team will experience a qualitative and quantitative cut in their marketing budget. This however will be followed by a relative growth in expectations.
Be more strategic and creative with planning. Set quantitative Performance objectives.
Management will require more accountability – Gone are the days when the CEO will derive fulfillment from having the best and most visually appealing billboard in urban locations, seeing a brand creative on the front page of the highest selling newspaper or having a colourful banner fly across online publications. In 2017,decision makers will be more concerned about performance and results that translate to numbers.
Move from impression driven campaigns to more measurable campaigns. Look out for visibility but Seek to invest in measurable campaigns that will provide detailed insight on Conversions and actions.
Summarily, 2017 is the year that stake holder want to cut costs, make more profit while taking over the market. Over 90 percent of time, this responsibility rolls down -directly- to the Sales and Marketing directors who are now faced with the challenge of finding the best way to keep “the boss” happy. To do that, impulse would need to make way for Strategy, Innovation, Inexpensive A/B testing and finally Insightful decisions.
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