The economy has never, and will never be predictable — no matter who claims that it is. It gets tiresome to hear projections of growth when all signs point to stagnation or that there will be another catastrophic recession in just a few years that no one can stop.
Now that Trump is President Elect, there are all kinds of wild predictions from his supporters and his dissenters alike. It’s worth noting that his voters also comprised about one-third of the American economy, with Clinton mainly attracting voters in wealthier positions.
While B2B sales certainly wasn’t his platform, we’ll look at how his presidency may affect the coming years.
Trump has run on a campaign platform that centered on bringing jobs back to America and he has developed regulations and incentives that may make this possible. Whether it’s increasing tariffs on international goods or loosening restrictions that make it harder for companies to produce here, he’s pledged to do whatever it takes.
We’ll look at how that may play out in the real world.
Strength in momentum
Essentially, Trump may be overstating his position a little bit. Once business is on track, it’s not necessarily easy to derail it.
Depending on what type of B2B sales you do and the clients you work with, it’s worth seeing how the tides and attitudes have changed in the past few years rather than looking to Trump as an instrument of change. While it’s possible that the business community can be drastic or hasty, typically you see trends follow specific patterns that are rooted in the original momentum.
There is no doubt that climate change is happening in our world, but large-scale plans have been difficult for politicians and scientists alike to implement. Again, it is the momentum of people that has pushed us towards industrialization for hundreds of years now. However, there is also no doubt that most people appreciate getting the same benefits in a more efficient manner too. Clean, renewable energy has already received a lot of support in the countries the U.S. trades with, meaning they may either withdraw from other partnerships in the future such as trade or finance or place heavy taxes on goods that were produced without following the Paris Climate Agreement.
Trump has promised Americans that he will be rooting out bad behavior both online and in person, and it will be interesting to see what attempts he makes on people’s privacy in the name of safety. He’s already called for people to stop buying Apple phones due to Tim Cook’s decision to deny the FBI access to security details on certain devices. This of course may lead to limitations on the sorts of intelligence salespeople can gather on prospects.
While everyone has their own views about Internet privacy, there will likely be a general growing consensus within the White House that ultimately no information is off limits. The Internet is still in a bit of its Wild West days (though certainly nearing the end) in that some of these types of moral and legal questions are still up in the air. Trump, for better or worse, may bring those questions to a quick end.
The broader economy
It’s well known that the U.S. economy plunged shortly after his election, but started rising quickly thereafter. This type of comeback was seen due to Trump’s claims that he was going to cut regulations and taxes to make it easier for companies to do business here. The optimism can bolster spending and action in an economy that could really use it.
Certain sectors in retail are seeing a drop though right now, mainly due to the fact that they work with undocumented immigrants who are preparing for either deportation or a lengthy legal battle in immigration law. And with less money and fewer jobs to go around, B2B spending may take a dip.
While you’re always taught to exercise caution in the business world, Trump’s Presidency may call for more of it.
Regardless of the type of business you’re in, it will be affected by Internet laws, who your customers are, and how the products are produced. All business leaders will need to pay careful attention to what’s happening in both their world and their client’s worlds for clues on how exactly sales will be affected.