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.
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”.
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.