How Brands Pivot in the Face of Uncertainty

How Brands Pivot in the Face of Uncertainty

Nearly every business is needing to reassess their long-term strategic plans as the world adapts to the realities of the COVID-19 era. While it’s unclear how long it will take for the pandemic to subside and for our economy to recover, organizations need to begin planning ahead for the next stage. Listening closely to customers and gaining insights on how to quickly adjust to meet their changing needs is how successful brands pivot in the face of uncertainty. With a deeper understanding of their customers in hand, businesses will be better prepared to realign their operations and begin adapting to new consumer behaviors.

Gleaning Insights to Guide Decision-Making

There are many ways that the risk of contagion and uncertainty about the future economy is prompting consumer behavior to change. Whether its brand switching when preferred products are unavailable, or adopting digital channels to make purchases, access entertainment, or maintain personal and professional communications – the way consumers interact with brands is changing across nearly every industry.

Of course, consumers can’t tell with certainty which of their new behaviors will become regular habits in the future. However, they can offer valuable feedback on their current experiences amid these changes. Gathering consumer feedback on new brands they are trying, and new purchase processes can generate valuable insights. With that in hand, managers can make critical decisions about how to adapt their product offerings, services, and marketing communications with greater confidence.

Old Rules May No Longer Apply

Many companies are recognizing the need to reexamine their previously held knowledge of the customer experience. In a time of such significant upheaval, it may be risky to assume that customer perceptions and emotional associations of your brand have remained constant. For instance, initiatives put in place before the pandemic to alleviate customer pain points may no longer be as relevant or may need to pivot in a different direction. Listen to customers and confirm what matters most to them today so that your organization can get ahead and develop innovative ways to meet changing needs.

Reimagining the Future Starts Now

Businesses are dealing with so many unanswered questions. When will the COVID-19 health risks pass? How quickly will the economy stabilize? Which new consumer behaviors will last? Yet, organizations who wait for such questions to resolve themselves before moving forward may end up outpaced by their competitors or no longer relevant. Anticipating how consumers will interact with your brand post-COVID-19 starts now by engaging with your customers. Leaders who rely on customer feedback about the changes they are experiencing and what is or isn’t working will be better informed as they realign their longer-term company strategies. By overlaying the voice of your customer with the evolving operational changes you are implementing, you’ll gain the information you need to quickly adapt to changing behaviors, anticipate future needs, and take steps now to deepen future customer connections. How will your company adapt and innovate to remain competitive?

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Listening to Consumers in This Season of Uncertainty