Ready for post Covid-19

The virus will linger, but the “lockdown” will end.

The virus will linger, but the “lockdown” will be over. This is the time to draw out an aggressive recovery plan.

To begin drawing out such a plan, it is important to estimate what consumer behavior change we could expect.

In brief, the consumers would be eager to reclaim their pre-lockdown lives but will be wary because the virus will linger along. Some estimate this to be a few months, while others assume it would take a couple of years to see off the virus completely.

What would the “new normal” look like from the consumer point of view?

  • Stay indoors: Consumers would be reluctant to venture outdoors unless there is a pressing need. They’d prefer those providers who deliver to their door.
  • Seek value for money: Consumers would relentlessly seek value in their spending because we can assume that a recessionary atmosphere would prevail right after lockdown.

Cost-cutting would be high on everyone’s mind. Advertising budgets would be eyed for a ruthless slash by the board and the leadership.

Considering these expectations, what could our “recovery” plan look like?

The plan should help us serve our consumers’ needs better, especially in the context of this “new normal”. But very cost-efficiently.

As soon as the lockdown is over, (which will happen sooner than later), brands will divert their attention to: a) Make up for the lost time and drive sales, b) Invest in systems that will help brands be “new normal ready”.

A checklist for your “new normal” readiness

  1. Can you communicate with the consumers while they are indoors? Hoardings, OOH, and radio are out for the most part. Does your media plan reach consumers on TV and digital?
  2. Can consumers transact with you right from where they are? Accelerate your e-commerce platform launch, if you haven’t already.
  3. Can your sales folks interact with consumers digitally? Deploy a robust CRM system.
  4. Can you nurture your leads digitally because you cannot “counsel” them face to face? Deploy automation systems.
  5. Can you gather consumer feedback as they consume your product or service? Deploy feedback and listening systems.

Deployment of the above systems is an essential first step to prepare for recovery. It is also an incredible opportunity to make your digital initiatives another differentiator from the competition.

 

April 15, 2020
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