{"id":40036,"date":"2020-04-30T15:05:11","date_gmt":"2020-04-30T22:05:11","guid":{"rendered":"https:\/\/www.enxmag.com\/twii\/?p=40036"},"modified":"2020-04-30T15:05:15","modified_gmt":"2020-04-30T22:05:15","slug":"latest-survey-shows-post-coronavirus-optimism-for-the-future-of-business","status":"publish","type":"post","link":"https:\/\/www.enxmag.com\/twii\/feature-articles\/2020\/04\/latest-survey-shows-post-coronavirus-optimism-for-the-future-of-business\/","title":{"rendered":"Latest Survey Shows Post-Coronavirus Optimism for the Future of Business"},"content":{"rendered":"\n
\"\"<\/figure><\/div>\n\n\n\n

Last week\u2019s ENX\nMagazine<\/em> survey of readers indicated that the impact of coronavirus may\nlinger for well beyond the point when states phase in their respective economic\nopenings. This week, we wanted to see how office technology dealers, OEMs,\ndistributors, suppliers and related businesses are positioning their marketing\nendeavors in order to continue engaging with their clients.<\/p>\n\n\n\n

From a demographic standpoint, 53% of respondents hail from\nthe dealer community. Nearly 10% constitute supplies resellers, and 7%\nrepresent MPS companies. OEM directs, VARs and remanufacturers each came in\naround 5%. More than 27% of responders are from the Midwest, 22% are from the\nNortheast, 21% are from the Southeast, and 19% are from the Southwest.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Even as the national quarantine completes its seventh week, there are signs of optimism surrounding the long-term viability of companies. We asked the question \u201cHow do you feel about the future of your business?\u201d Nearly 48% counted themselves as \u201cquite confident\u201d and about 32% replied, \u201csomewhat confident.\u201d Only 16% termed themselves \u201cless confident\u201d while less than 2% responded, \u201cnot confident at all.\u201d<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Looking ahead to doing business in the post-quarantine era, we asked, \u201cCurrently, what concerns you the most about future growth?\u201d Slightly more than 60% indicated \u201ca sluggish restart to the economy.\u201d More than 23% expressed concerns about \u201cpermanent volume reductions\u201d while 7% cited \u201clow customer confidence.\u201d Just 4% indicated they are \u201cnot concerned\u201d while write-in responses cited they were worried about a sluggish restart extending into the fall and the uncertainty surrounding the timing of a reopening.<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

Given that safety precautions will remain in place well\nafter states open the economy, we asked respondents \u201cWhat will be the biggest\nadjustment your business will need to make once the quarantine is lifted?\u201d With\na multiple-choice option, about 51% cited \u201cmaking appointments\/sales calls.\u201d\nMore than 22% selected \u201cmaintaining social distancing at work.\u201d Arming\ntechnical service personnel with social distancing measures garnered 19% while\nconverting back to on-premise working was cited by 18%.<\/p>\n\n\n\n

Marketing Messages<\/strong><\/p>\n\n\n\n

All indications point to in-person events being drastically\ncut back for at least the next three to four months, if not longer. We asked\nrespondents \u201cFrom a marketing perspective, will you be using online events,\nsuch as webinars or virtual conferences, in lieu of hosted events for the\nbalance of 2020?\u201d More than 60% said they would and 22% indicated they would\nnot, with the balance reporting it did not apply to them.<\/p>\n\n\n\n

We also asked respondents \u201cWhat types of virtual events they\nwould hold to boost customer engagement,\u201d providing for multiple choices.\nLeading the way was technology-based webinars at 38%, product-based webinars\nand virtual conferences with seminars at 35% each. Write-in options included\none-on-one Zoom meetings and small, on-site demos.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

With in-person engagement severely curtailed, we asked\nrespondents \u201cHave you ramped up social media marketing efforts for client\nengagement?\u201d Nearly 60% said yes and 34% no. We followed that up by asking \u201cWhat\nkind of social media messaging have you been employing to engage clients,\nemployees and followers?\u201d With multiple-choice responses, about 41% cited\n\u201cposts regarding sales promotions\/specials.\u201d Roughly 38% chose \u201cposts about\ncustomers, employees or other partners.\u201d More than 28% responded \u201cfun\/offbeat\nposts to entertain\u201d and slightly more than 25% selected \u201csupport of\ndoctors\/nurses\/first responders.\u201d<\/p>\n\n\n\n

That question revealed the breadth of messaging being\noffered, as 27% cited \u201cother\u201d themes. They include recorded messages to\nclients, industry news, document management, remote work enablement, radios\nPSAs offering free technical service to new clients, and providing aid to\nfront-line personnel.<\/p>\n\n\n\n

Industry Mobility<\/strong><\/p>\n\n\n\n

Will members of our industry take to the sky once the\nall-clear has been given? We asked respondents, \u201cOnce the quarantine has been\nlifted, how long will it be until your company permits\/encourages air travel\nfor business?\u201d A full 41% said it was \u201cToo early to tell.\u201d Almost 14% projected\n\u201cThree to six months.\u201d Slightly north of 12% said \u201cWithin a month or two\u201d while\nonly 7% responded \u201cImmediately.\u201d Another 5% responded, \u201cNot until 2021.\u201d<\/p>\n\n\n\n

With dealers, IT providers and others assisting companies in client conversions to work-from-home scenarios, we asked, \u201cWhat is your view of work from home\/remote working as an ongoing business opportunity?\u201d Nearly 29% said, \u201cIt\u2019s a modest ancillary offering.\u201d The belief that \u201cIt will provide significant, measurable volume\u201d was cited by 23%, while the same percentage said, \u201cIt provides a minor, temporary boost.\u201d The question did not apply to about 22%.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Finally, we asked respondents, \u201cWhat is your company\u2019s\nposition on the subject of customer forgiveness?\u201d With a multiple-choice\noption, nearly 41% reported, \u201cWe\u2019ve worked out temporary\/creative plans for\ncustomers.\u201d Another 31% said, \u201cWe have offered deferrals, credits or reductions\non leases\u201d (conversely, 4% said they have not offered the same). A total of 31%\nsaid that \u201cCustomers have not sought forgiveness.\u201d The question did not apply\nto about 10% of respondents.<\/p>\n\n\n\n

Analysis<\/strong><\/p>\n\n\n\n

That 80% of respondents are either quite or somewhat confident about the future of their business bodes well for the industry, particularly at a time when states are beginning to roll out their phased openings. A stronger social media push and creative ways to engage customers in a virtual fashion suggest the industry is gearing for sustained social distancing measures. Businesses are working out arrangements with their clients at a time when expenditures are being kept to a minimum. While uncertainty remains about how long it will take the economy to get clicking on all cylinders, the office technology industry appears poised to adjust to the \u201cnew normal\u201d it is likely to see.<\/p>\n","protected":false},"excerpt":{"rendered":"

Last week\u2019s ENX Magazine survey of readers indicated that the impact of coronavirus may linger for well beyond the point when states phase in their respective economic openings. This week, we wanted to see how office technology dealers, OEMs, distributors, suppliers and related businesses are positioning their marketing endeavors in order to continue engaging with their clients. From a demographic standpoint, 53% of respondents hail from the dealer community. Nearly 10% constitute supplies resellers, and 7% represent MPS companies. OEM directs, VARs and remanufacturers each came in around 5%. More than 27% of responders are from the Midwest, 22% are from the Northeast, 21% are from the Southeast, and 19% are from the Southwest. Even as the national quarantine completes its seventh week, there are signs of optimism surrounding the long-term viability of companies. We asked the question \u201cHow do you feel about the future of your business?\u201d Nearly 48% counted themselves as \u201cquite confident\u201d and about 32% replied, \u201csomewhat confident.\u201d Only 16% termed themselves \u201cless confident\u201d while less than 2% responded, \u201cnot confident at all.\u201d Looking ahead to doing business in the post-quarantine era, we asked, \u201cCurrently, what concerns you the most about future growth?\u201d Slightly more than 60% indicated \u201ca sluggish restart to the economy.\u201d More than 23% expressed concerns about \u201cpermanent volume reductions\u201d while 7% cited \u201clow customer confidence.\u201d Just 4% indicated they are \u201cnot concerned\u201d while write-in responses cited they were worried about a sluggish restart extending into the fall and the uncertainty surrounding the timing of a reopening. Given that safety precautions will remain in place well after states open the economy, we asked respondents \u201cWhat will be the biggest adjustment your business will need to make once the quarantine is lifted?\u201d With a multiple-choice option, about 51% cited \u201cmaking appointments\/sales calls.\u201d More than 22% selected \u201cmaintaining social distancing at work.\u201d Arming technical service personnel with social distancing measures garnered 19% while converting back to on-premise working was cited by 18%. Marketing Messages All indications point to in-person events being drastically cut back for at least the next three to four months, if not longer. We asked respondents \u201cFrom a marketing perspective, will you be using online events, such as webinars or virtual conferences, in lieu of hosted events for the balance of 2020?\u201d More than 60% said they would and 22% indicated they would not, with the balance reporting it did not apply to them. We also asked respondents \u201cWhat types of virtual events they would hold to boost customer engagement,\u201d providing for multiple choices. Leading the way was technology-based webinars at 38%, product-based webinars and virtual conferences with seminars at 35% each. Write-in options included one-on-one Zoom meetings and small, on-site demos. With in-person engagement severely curtailed, we asked respondents \u201cHave you ramped up social media marketing efforts for client engagement?\u201d Nearly 60% said yes and 34% no. We followed that up by asking \u201cWhat kind of social media messaging have you been employing to engage clients, employees and followers?\u201d With multiple-choice responses, about 41% cited \u201cposts regarding sales promotions\/specials.\u201d Roughly 38% chose \u201cposts about customers, employees or other partners.\u201d More than 28% responded \u201cfun\/offbeat posts to entertain\u201d and slightly more than 25% selected \u201csupport of doctors\/nurses\/first responders.\u201d That question revealed the breadth of messaging being offered, as 27% cited \u201cother\u201d themes. They include recorded messages to clients, industry news, document management, remote work enablement, radios PSAs offering free technical service to new clients, and providing aid to front-line personnel. Industry Mobility Will members of our industry take to the sky once the all-clear has been given? We asked respondents, \u201cOnce the quarantine has been lifted, how long will it be until your company permits\/encourages air travel for business?\u201d A full 41% said it was \u201cToo early to tell.\u201d Almost 14% projected \u201cThree to six months.\u201d Slightly north of 12% said \u201cWithin a month or two\u201d while only 7% responded \u201cImmediately.\u201d Another 5% responded, \u201cNot until 2021.\u201d With dealers, IT providers and others assisting companies in client conversions to work-from-home scenarios, we asked, \u201cWhat is your view of work from home\/remote working as an ongoing business opportunity?\u201d Nearly 29% said, \u201cIt\u2019s a modest ancillary offering.\u201d The belief that \u201cIt will provide significant, measurable volume\u201d was cited by 23%, while the same percentage said, \u201cIt provides a minor, temporary boost.\u201d The question did not apply to about 22%. Finally, we asked respondents, \u201cWhat is your company\u2019s position on the subject of customer forgiveness?\u201d With a multiple-choice option, nearly 41% reported, \u201cWe\u2019ve worked out temporary\/creative plans for customers.\u201d Another 31% said, \u201cWe have offered deferrals, credits or reductions on leases\u201d (conversely, 4% said they have not offered the same). A total of 31% said that \u201cCustomers have not sought forgiveness.\u201d The question did not apply to about 10% of respondents. Analysis That 80% of respondents are either quite or somewhat confident about the future of their business bodes well for the industry, particularly at a time when states are beginning to roll out their phased openings. A stronger social media push and creative ways to engage customers in a virtual fashion suggest the industry is gearing for sustained social distancing measures. Businesses are working out arrangements with their clients at a time when expenditures are being kept to a minimum. While uncertainty remains about how long it will take the economy to get clicking on all cylinders, the office technology industry appears poised to adjust to the \u201cnew normal\u201d it is likely to see.<\/p>\n","protected":false},"author":166,"featured_media":40037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1650,82,87,1638],"tags":[],"_links":{"self":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/40036"}],"collection":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/users\/166"}],"replies":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/comments?post=40036"}],"version-history":[{"count":1,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/40036\/revisions"}],"predecessor-version":[{"id":40046,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/posts\/40036\/revisions\/40046"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media\/40037"}],"wp:attachment":[{"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/media?parent=40036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/categories?post=40036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.enxmag.com\/twii\/wp-json\/wp\/v2\/tags?post=40036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}