If you are reading this then you probably know the impact of the Corona pandemic thus far. As brands / businesses, we all had to give in to some measures and adjustments either willingly or grudgingly. When i speak of brands, it doesn't necessarily have to be an entity, it can be a person too - someone offering a given product or service to the world.
Each brand has its own experiences depending on their field of influence but here are some lessons we all have to learn going forward after COVID-19 ;
- Avoid rigidity - circumstances will force you to make some changes in how your brand operates. It's vital to embrace evolution to meet the changing habits of your target market / audience. Having a static unchangeable model makes your brand fall out of the realm of relevance over a course of time while the world moves on to something that's pro change.
- Service above everything - despite your goals, how are you actually giving back to surrounding communities. Is your brand helping out less privileged people? Are you supporting growth of smaller brands? Have you jumped on any social / cultural causes such as mental health awareness to actually help people in these tough times? Are you offering any pro-bono services? These are some of the questions you need to ask yourself.
- Soldier on - We can’t sit around waiting for everything to return to normal. The world has changed. Embracing this fact will allow brands to respond to new needs and information quickly and effectively. Focus on what you can control – not what you can’t predict. And remember, the future has always been unknown, we just weren’t so starkly aware of this fact before now.
- Communication is key - Challenges come up every now and then but we tend to underestimate the power of communication. Have you been opened and forth coming with the stakeholders of your brand? Communicating things like; Transparency with your employees on the stand of current issues, communication of conditions with partners/shareholders and reaching out to clients helps just to see how they are holding up helps build relationships that last way beyond business life cycles.
- Crisis funds - as a brand, your own survival is paramount. We all set aside a little something to cover operations mostly but this is a time to set aside even more. Having accounts to deposit money for unforeseen things such as the corona debacle. I know most businesses have reserves but its time to have a reserve of the reserve. The kind you use when everything has hit the fan. Every penny counts from now on which means brands might have to be more prudent than before.
Chaos teaches us a lot and we can only blame ourselves if we do not learn.
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