The bet, right now is to get the users first, monetization will follow." not anymore !!!
"The bet, right now is to get the users first, monetization will follow." not anymore !!!
If you are a business with this as the moto, you are in for a hard time. Life, beyond corona will not be the same.
Businesses will have to demonstrate sustainable practice right at the start-point. markets will shrink, consumers will push purchase (freebies will sustain), but to translate it into purchase/subscription won’t be easy, for a long time.
No one was prepared for this, no one is prepared for what’s ahead of us. Most of what is happening is reactive and predictable, a change that could sustain beyond its temporary nature.
People, Businesses are adjusting for visible factors. The key invisible continues to be purchase & revenue. One thing that we know with most certainty is that we are in 'uncharted territory'. The models and skills of today wont completely fill this shift. The behavioral tendencies will change beyond predictability, and to ascertain how will the purchase in the post-Corona environment will look like, no one really knows!!! ( Including most business leaders, investors etc. You gotta hear some of the podcasts that are doing the rounds. Its hilarious !!!)
One thing is certain, the GODs of the post Corona world won’t be the same!!!
Some of the things that we do know ( Just for reference, and no playbook, people), which should stay with us for long and are becoming a habit ( beyond being a fad !!), till another such event happens (or not) shall most certainly be, where we (consumers) become more patient, accommodative, contributive, and selfless, This new, new, might become the focal point of all communications and engagements(and new client acquisition), for a long time.
Externally, we will, most definitely, become supremely appreciative of nature (with most people raving about the clear skies already, and newspapers are comparing the air quality of Delhi with that of, wait for it ….Switzerland !!, we will become sensitive to the cause of nature ), Our health and hygiene practices will improve significantly. Our food and fashion will be simple and minimal. We will put in extra effort to take care of our nature and surroundings-and will also become the new hunting ground for people to connect and engage.
We will set ourselves free (not completely) from living a life where the ‘Job’ is everything, and start to look for areas and opportunities we are passionate about.
Community will become important, where everybody knows everybody(mostly ??), and be willing to ‘talk’ without an agenda (am I dreaming, or what…….).
Creative expression will take shape of small boutique businesses, and many people will start some or the other business on the side, eventually to be able to live free from all compulsive, cumbersome and binding professional engagement.
The new world order might seem odd, but………………………… Humane!!!
Corporate, Commercial & Criminal Law | Distressed Assets
4 年True Ashu, well said. There' s going to be big distuption in Financial Markets, Businesses including highly vulnerable SMEs and the only positive we may expect is sincerity of Governments across globe towards nature.... But then public memory is short and politicians are politicians!
Director Forensic audit and Accounting Services SP Chopra and company. Mentor Bhopal Incubation Center AIMA Trainer
4 年During this extraordinary times, all business will have to repurpose their activities to preserve cash, adapt to changed consumer behaviours, have modest growth if circumstances allow. For professional advice on Investment and operational excellence, you may contact me at [email protected]
Founder & Chairman at Luxury Connect & LCBS I Luxury Retail Icon I Top 100 men of Luxury I Author I Speaker I Mentor, Coach & Professor of Luxury Management I Transforming Skill Landscape of Luxury in India & BRICS.
4 年Well said Ashu. There is no doubt consumer behavior will change drastically. Retail tech will start playing a key role - sustainability will come out from the wraps and will become the focus - no longer can brands be skimming the surface - social distancing and the Indian way of life will be the global driver - from washing their backsides (read ars*holes) to namaste to more and more people turning vegetarian. I see too many new norms replacing the old order. Wait for my white paper on 'Corona Virus and its impact on Indian Luxury'. Quite a startling revelation so far by the respondents whom I spoke to in my focus group study. Check out the webinar tomorrow on the same at zoom @4.30 onwards. A detailed report in the next two weeks.
Strategic Visionary: Architecting the Data-Driven Digital Transformation Roadmap for Value and People Centric Excellence
4 年And the transformation begins post pandemic.. A new world altogether, new lifestyle, new priorities, new business policies / goals, new culture, new skills, new technologies, new business models, new strategies, new demands, new preferences...The Corona shock will be felt for a long time, but we'll have a transformed world. A world of technology and human... Yes, it's also true. Our comfort zone has been pulled down and post Corona, everything will be difficult to adapt to. But we are with no choice...Thanks for sharing the future concerns of the business, Ashu Agrawal