Change is the only constant .........

CHANGE is the only constant, COVID being a catalyst: Time for the brands to seize the opportunity to disrupt

When John F. Kennedy famously declared, “In the Chinese language, the word ‘crisis’ is composed of two characters, one representing danger and the other, opportunity,” a crisis communication credo was born. Kennedy, whose love of foreign expressions later earned him an undeserved reputation of practising translational malpractice, was maybe not entirely correct on the linguistics, but his sentiments were true enough, something that is quite apt in today’s scenario too. COVID 19 has no doubt helped organizations realize the need to transform their businesses and be adaptable to the change.

Around the world, leaders are facing an important choice around supporting ‘innovation-led growth’, one that may have lasting consequences on the organisation’s ability to grow or continue to ‘play it safe’. As the world grapples with the pandemic, many businesses may not be equipped to operate as they have in the past. What made a company successful historically may no longer be possible during or post-pandemic. Hence to survive, brands must change, innovate and disrupt. We have seen many successful examples in the past year of companies trying to innovate to survive and thrive than ever before. We’ve seen companies like Tesla, Ford and GM gearing up to make respirators instead of cars. Brands like Rogue Fitness was seen shifting to make masks, while perfumeries and distilleries around the world are still making hand sanitiser and disinfectants for their communities and country. Many physical retail stores had to become fully online stores overnight and cashless transactions became popular within days. The use of service automation through Bots has also seen an exponential rise due to the increased demand for customer service across all industries. Non-traditional entertainment (at-home segments of television, online gaming and OTT) became the new normal due to the closure of theatres, shows, theme parks, museums and sports. But, perhaps, the most fundamental change will be in perceptions of technology and technological competence. There are no doubt many positive stories about how technology has made us all sail through the crisis while we were in the Lockdown, be it the experience of working from home through collaborative technologies or healthcare delivery made easy through Telemedicine. Telemedicine witnessed tremendous adoption while diagnostics companies like ours saw a surge in the home collection model. Our world is running on data highways now, and we're experiencing everything technology makes possible, deeper, data-driven insights, connectivity and even a deeper human connection.

Looking at the situation optimistically, many companies saw this time as a unique opportunity for their business to rally and to stand apart from the rest. Zoom is a perfect example of a brand that has achieved awareness as a result of the global crisis and has moved beyond the enterprise only to become one of the primary ways housebound people connect worldwide.

Rapid changes in customer behaviour

The COVID situation triggered several transformations into human civilisation, which are now going to be more strongly embedded in our lifestyles. We have already seen consumers adopting healthy lifestyles, eating home-cooked food, practising sleep hygiene, opting for health supplements and doing yoga and physical exercises to stay fit. While on the technology front, for years, videoconferencing was known typically as an enterprise tool that required expensive deployments and training to ensure high-quality connections. However, Zoom disrupted this industry forever with its simple setup and good connectivity. Similarly in healthcare, TeleHealth became a reality offering to be a bridge to care. TeleHealth is expected to offers a chance to reinvent virtual and hybrid virtual/in-person care models, with a goal of improved healthcare access, customer-centricity and faster outcomes. During the pandemic, many consumers demonstrated a willingness to delay healthcare if they do not feel that physical locations are safe and were more inclined towards at-home healthcare services which made healthcare companies realise the importance of their digital channels. Across all industries, especially in Healthcare, it’s important for brands to “Get their identity right” which means making it easy for customers to connect with the brand digitally – making it easy to log in, reset passwords, receive personalized digital content, and feel secure, with respect for their privacy. Users today are demanding a digital experience that is both simple and safe. Many healthcare providers are looking at tapping into this trend by either investing in start-ups or by partnering with innovative vendors to deliver complete healthcare solutions to consumers.

?Having said that, I would only say that the COVID pandemic has not changed the essential practices underpinning business success, but the relative emphasis and urgency of where businesses should focus, has changed exponentially. Today, we might need to recalibrate ourselves to new norms, new strategies and new systems. But while a whole lot of things will change, a lot will not either. Our value system, for example, or the core of any relationship, or indeed the fundamental purpose of a best in the class organisation – all of these will not change.