From Surviving To Shining: Look At Post-COVID Business Strategy
“Because, you know, resilience – if you think of it in terms of the Gold Rush, then you’d be pretty depressed right now because the last nugget of gold would be gone. But the good thing is, with innovation, there isn’t a last nugget. Every new thing creates two new questions and two new opportunities”
Are you afraid of falling graphs?
Or afraid of the future?
Well, let’s be honest. With the current economic slump and slowdown, every business surely is worried. From low revenue to maintaining the cash cows, and balancing the low income-generating enterprises, organizations are having a tough time. Many are also facing other issues like:
- Managing work from home– The sudden new shift in the way the world works
- Managing Productivity at workplace amidst the pandemic that’s hitting mental peace
- Creating strategy during the COVID Phase
- Managing Strategy For a Resilient Tomorrow.
It has impacted almost trillions of dollars of revenues for businesses and, now is the time that every business much pushes their limits towards some actionable steps to build their business future-ready. We’ve got few strategies for your business that can help it come out of the pit.
Step 1: Create Relevant Communication
At the core of any crisis, strategy stays concise, comprehendible yet coherent communication. Too much C’s right? Well, there are 8 C’s that one should actually follow while creating a communication. And it all starts with the right things to talk about.
- 48% of people suggest that brands who sympathize gain greater trust
- 69% said that brands who made aggressive sales lost their loyalty during COVID
- 91% of people suggested that businesses that explicitly addressed their needs were the ones they chose during the lockdown.
At this time, the role of content/communication experts has increased as people are more sensitive and even one small error can doom the entire business. We suggest that you focus on hiring the right experts: either in-house or outsource the work to experts at branding and communication so that you can focus on the core operations while the experts work at theirs!
Step 2: Communicate Effectively Through Multi-Channel Plans
“Digital is here to stay” and when we say this, it’s our experience that talks!
The lockdown closed various advertising and communication platforms but one that could not be altered was digital platforms. This taught key takeaway for business, that they should quickly understand that marketing budgets need to be amended.
You should focus on creating digital value preposition which means increasing your digital footprint: make the website you have been waiting for or create the youtube video that talks your business, build your online portfolio or refurbish the existing content.
While that being said, you need to operate on multiple channels as only digital also won’t suffice all your needs. It is just another addition to your overall ATL activities while you think of your marketing hacks.
How would you decide which platform is the right one for you?
Well, that is the tricky part. There are “n” number of platforms that have their presence but its optimum effectiveness depends on the business/industry.
For a restaurant, a social media profile and business listing might be enough but if you are a B2B dealer, probably a website with proper classified and listings will be required. Who knows it all?
*welcome experts again*
Crisis plans have also stated that people who had better acumen of understanding the needs of marketing, have solved the crisis for those businesses in a better way. Experts know the what, when, and how of budgeting and strategizing and suggest the best possible solutions.
Step 3: Build Brand Equity Through Work
The pandemic has given one ample time to rethink on the exiting brand image. In the post-COVID scene, you might not get that time, so plan your branding strategy now. Some of the steps that you can take include:
- Communicating how you are taking necessary safety precautions as people still are fearful of the world outside. If you want them to come to your business, you need to show them how you have managed their security at your business place.
- Explain how your products/services have not been compromised and are of same value for money worth and quality. This will help in building the right base.
- Engage with them and work towards developing user-generated content. This will not only build a community feeling but also help in gaining loyalty.
Many of you might not be well-versed with smart branding solutions and for that, we again suggest you knock the doors of experts. Including digital transformation in your entire crisis management plan at the perusal of experts will 100% be in favor of your business!
The times might be difficult, but at the end of the crisis, lies an opportunity for brands! Those who foresee the future and prepare plans to combat problems will take less time is rising from the situation.
If you are thinking of consulting some experts, have a look at us!
Who Are We?
Orionators is a full-fledged digital marketing agency based in India. We are empowered by the vision of Miraj Group and are constantly working towards making brands digitally empowered. If your business needs any kind of support, our panel of experts is always available to serve your business.
Get in touch with us now!
About the Author
The author is a communications graduate with a keen interest in the advertising world. She has always loved penning her thoughts and views and, loves sharing the same with everybody. With her passion for advertising and the digital arena, she sets forth her opinions through blogs working as a content writer.