We are going through unprecedented times. Very few of us have seen this kind of epidemic at this scale in their lifetime. COVID-19 has made most of the world come to a stand still, the race has been stalled. Governments and businesses fear loss which was never foreseen in the modern history. Share market is crumbling down, it’s just around the corner that businesses will start to worry.
But it also gives a great opportunity and time for brands and brand leaders to think.
Reflect back on past
With day to day hustle, meetings and calls, and thinking about the bigger picture we don’t find time to reflect back, think of why you started and why you belong. It is this time that gives you opportunity to sit back and feel the beats. There is nothing better than finding out those inspirations which set you apart, read that mission and vision section that was lying somewhere on your website or brochure.
This lockdown has made people go online on record number, spending a greater percentage of their time, conducting more and more activities including communications, work, learning, entertainment, and social interaction. This gives a great opportunity to get brands to connect with them directly. And help how they can connect with each-other. Your e-commerce might not surge but your brand can definitely reach to empowered, content-hungry individuals to capture their imaginations.
Work on branding
Sit back and go through your branding material, your website, your collaterals, presentations, ads, social media etc, see if they reflect what you actually sell. Great brands don’t sell products, they sell connections and problems that your product solves. Time to check if everything you do revolves around this and plan towards it. Reach out to your customers, they have time. Find out how your brand places with them. Revisit your strategy, targets, positioning and emotions.
Find the holes
We can be so enthusiastic about sailing towards the goal in front of us that we forget to take the time to be sure our ship isn’t leaking. This is the time to check your hulls and see if you aren’t missing an opportunity to save money, to build and sell product and satisfy customers. Get all your statistics in front, find out if your business has shortcomings. You need to perform an overall audit of your company. Understand the business’ weak spots, remember this is not a guess work.
Make processes effective
In the sea of favourites one of the quote I like is “If you always do what you always did, you’ll always get what you always got”. When you are looking for a different outcome, think about what your current process and change it. Find a better way of being more efficient. Look at your existing activity and process of how you operate and run your business. It’s the process which holds it all together, the glue between the departments, the steps taken by each stakeholders, Delivery of product and services. Time is suitable to build a culture of real process driven company.
Stand for something
With belief-driven buyers, silence of a brand is not an option anymore. A brand must stand for something. Nearly 60% of customers are more likely to follow or boycott a brand because of its stance on a social or political issue. And more than anything else it can create an emotional connection with your customers. You know emotions last.
Looks like novel Corona epidemic is going to stay for a while. Meanwhile for most businesses, figuring out the future means re-examining what used to work and finding a new way forward. Embrace the time you have in hand. It is a great time that everyone in your company starts building the brand. Your sales, service, marketing or HR, everyone together. Build the brand and take a break from selling your product.
But overall, be generous, your customers, employees and even the world needs your generosity more than anything else now. Time to be extraordinary.
If you have come this far, Thank you. I would love your opinion, feel free to share them in comment section.
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