In answer to the question “What will it take to navigate this crisis” the authors call on businesses and governments to act across five stages, leading from the crisis of today to the next normal that will emerge after the battle against coronavirus has been won:
Resolve: All those in leadership positions must determine the scale, pace, and depth of action required at the state and business levels and resolve to do what it takes.
Resilience: A McKinsey Global Institute analysis indicates that the shock to our livelihoods from the economic impact of virus-suppression efforts could be the biggest in nearly a century. In the face of these challenges, resilience is a vital necessity.
Return: Returning businesses to operational health after a severe shutdown is extremely challenging and the weakest point in the chain will determine ultimate success. The authors suggest using Northern Hemisphere’s summer months to expand testing and surveillance capabilities, health-system capacity, and vaccine and treatment development to deal with a second surge.
Reimagination: Institutions that reinvent themselves to make the most of better insight and foresight, as preferences evolve, will disproportionally succeed. The crisis will reveal not just vulnerabilities but opportunities to improve the performance of businesses.
Reform: Leaders in government, business, healthcare, the financial system, educational institutions, and more should think about what reforms are needed to avoid, mitigate, and preempt a future health crisis of the kind we are experiencing today and to strengthen the system to withstand acute and global exogenous economic shocks, such as this pandemic’s impact.
Collectively, these five stages represent the imperative of our time: the battle against COVID-19 is one that leaders today must win if we are to find an economically and socially viable path to the next normal.
This is our recent presentation to USA500, an community for successful Trusted Advisers in which we share and elaborate on the below insights with fellow members. Watch Eric Blaha’s presentation. The New Normal for Business and Marketing Strategies As businesses around the country try to assess what’s next after the big Shut Down, many […]
While the cultural shift during the pandemic has been tremendous, there are many facets that are likely to become the new normal for businesses and their marketing strategies in the future.
Businesses should not look at this time as a temporary normal that they can come up with some quick fixes for, but as a permanent shift for the future. There will be a new way of doing things and the business models and marketing strategies will be different – it’s already changing every day.
With people staying at home more often than ever, virtual has become the new standard. Video calls and online communication are more normal and saving consumers time, setting them with a new expectation of how they can communicate with companies and firms. For example, having a video meeting with a professional service instead of visiting their office, can be more convenient and efficient for a consumer – something they might want to keep doing in the future.
The reality is that people are developing new ways of doing things and new expectations are being set. Many companies will need to have a substantial online presence to meet their consumer’s needs. Is your business in line with adapting to the new virtual landscape of consumer behavior?
Lead generation is one of those marketing terms that sounds easy, but many businesses still struggle to find the right combination of strategies and tactics to actually convert as many leads as they expect. Selecting the right lead magnet (sometimes known as click-bait) and actually telling your audience why it’s important to them is critical, as are strong Calls-to-Action and straightforward and easy to fill forms: the last thing you want is to lose a lead because they can’t be bothered to fill in all the information you’ve requested. Combine these with a targeted online advertising strategy and a strong SEO program, and you’re well on your way to effective lead generation.
Think your B2B customers aren’t using mobile? Think again! The Boston Consulting Group found that for more than 60% of B2B buyers, mobile played a considerable role in a recent purchase. B2B buyers are using mobile devices to conduct research on their needs and find other sources of information, potential vendors, and service providers. Look at your own analytics to determine the importance of mobile for your business and make sure your mobile presence is optimized.
Holidays are a time for interacting with people, whether it be your family, friends, neighbors or coworkers. This also makes it a great time to socialize with your clients. The end of the year makes a perfect time for you to say “thank you” to your clients and wish them the best for the new year. Personal interactions around the holidays are things your clients will remember in the new year.
People who shop ALDI tend to more than loyal – they’re really Raving Fans. We love brands with personality, and ones that inspire that kind of following really get our attention. What gives a brand personality? It must have a unique appeal. What’s ALDI’s appeal? In a nutshell, the German-based grocer sells quality foods in […]
Do you know all the ways that online reviews impact your business? Explore the top 3 ways reviews can help your business reach more consumers. Sales Renewal’s insight: Most people know how powerfully online reviews influence buying decisions. What you may not know: review sites differ tremendously in terms of how they work, where the […]
You’ve found a product and created your online store. Now, what? Once you’re up and running, it’s time to start driving traffic to your store and closing sales. Whether you’re trying to make your first sale or you’ve been open for business for a while, it’s always good to find more ways to promote your […]