Technological developments increase customer expectations, especially in uncertain times.

By Khrisando BanshiUpdates
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Substantial increases in business failures and bankrupts expected due to crisis. Due to the corona crisis, nearly eight thousand companies in the Netherlands will go bankrupt in the next year and a half, including sole proprietorships. That is what credit insurer Coface expects. That equates to a 36 percent increase in business failures, compared to the previous eighteen-month period.

Relaxation of measures against the COVID-19 (Coronavirus) does not mean we will recover in a short period of time

Coface argues that the relaxation of measures against the coronavirus does not outweigh the damaging impact of quarantine measures on global economic growth. The company says the lack of rapid recovery from the crisis is due to continued uncertainty about the course of the pandemic, causing households to cut corners and companies to cut investments. In addition, some sectors are experiencing irreparable production losses, particularly in the services sector and fuel raw materials. Government support measures help mitigate the damage somewhat, Coface says.

Priority is marketing and innovation

“The COVID-19 crisis is forcing marketers in the Netherlands to rethink every facet of their business – from strategic priorities and challenges to the necessary technology and team skills – as they return to work in a global crisis and continue to transform the customer experience to be best positioned for success in the coming years,” said Nag Patta, senior director Benelux at Salesforce. “The insights from this year’s research are useful guidance for marketers who need to restore and transform their businesses.”

  • Marketing transformation will be priority number 1
  • Customer data ensures empathetic marketing
  • Marketers double business value

Sources:

Accountant.nl. (2020, June 18). Flinke stijging bedrijfsfaillissementen verwacht door crisis. Used on 18 June 2020 from https://www.accountant.nl/nieuws/2020/6/flinke-stijging-bedrijfsfaillissementen-verwacht-door-crisis/#

Redactie Customertalk. (2020, June 4). Innovatie staat hoog op marketingagenda’s in onzekere tijden. Used on 18 June 2020, from https://www.customertalk.nl/nieuws/innovatie-staat-hoog-op-marketingagendas-in-onzekere-tijden/