The novel corona-virus, or more notably referred to as COVID-19 has left us all in distress. We are all aware of the uncertain times we are in and the fact that the most hit industries of today are the hospitality, aviation, and the events and experiential industry.

The global pandemic has hit a new high with marketers raising a hue and cry over the dipping economy, loss in business and jobs, or even questioning what is the new normal? Marketers fear tomorrow and ponder if brands would still invest and spend like before when the worlds headed towards social distancing and zero contact policy?

While brands are grappling with the challenges they face today, and in the years to come or at least till the vaccine is out, and companies look to explore all possible ways to make up for lost revenue and profit, we advise you to not hurry it up. Take one thing at a time, and instead of jumping the boundaries look for open doors and windows that you had previously left behind. This way you are not only at par with the changing times but are also able to reap maximum benefits amidst being in a soup!

Here is de-coding “COVID”:

C- CUSTOMER: The change in time or the change in a situation does not alter facts in fact, it only strengthens the phrase “Customer is King.” Conducting businesses in today’s scenario have only gotten to be more difficult keeping in mind the social distancing norms and zero contact policy but have also left no room for errors. Personal meetings have now been replaced with video conferencing or telephonic conversation and email, and hence we must now learn to make the most out of this situation. Remember, times have changed, and to survive the rat race we need to up our game. We have to constantly look for ways on how we can provide a little extra to our customers.

E.g. the marketing team can sit down with the sales team and conduct orientation on email etiquettes, or phases to use while video conferencing or terms to avoid when talking to a client over the telephone, etc. They can also guide on tips and tricks like; how to persuade customers better, give away brand promotion ideas, talk to them how the right BTL activity their business could indulge in, and the gaining momentum of brand activation in this time of crisis! This way you not only create an impact in the mind of your customer but help them recall you.

O- OUTPUT: Let’s embrace the fact that the advertising budget will now be drastically cut, and businesses will lookout for a full-service firm, the central objective being, deriving maximum output from minimum investment. Therefore now we must rethink our business. We must constantly prospect ways on how we can do things differently, yet derive the desired output. Irrespective of the pandemic, business and brands must survive, and hence there has to be constant monitoring. The brand promotion ideas must match the current situation, the BTL activities businesses participate in must comply with the new normal, and the mall activation ideas or brand activation must provide them with maximum output.

V- VALUE: Create value in your offering. Irrespective of changing times, this is one idea that businesses must adhere to. E.g. have you wondered why you choose one brand or business house over the other even when they sell the same or similar product or service? The reason could be infinite. While some could prefer it for years of relationship, others could prefer it for the brand value one has created for themselves in the market and many more reasons. And this addition of value onto your product offering other than focusing on quality or quantity could eventually be your USP. This is time, we think anew and reboot. Consider your unique strengths and advertise them. We are sure your business will do phenomenally!

I- INNOVATION: The proverb “Necessity is the mother of all invention” does not seem to be more apt considering the changing times we are in at the moment. The pre-COVID times were different, and the post, we are assuming, will be different too. And considering these changes in dynamics, driven by declining revenues, has forced organizations to think differently and innovate. At the moment, innovation is the only way out now to gain back the lost revenues and profits, that businesses have missed out upon. The innovation should apply to new business models, distribution models, customer engagement tactics, or even brand promotion ideas and btl activity. All of these must be on par with recent times. If you as a business lose out on this opportunity to innovate and ignite, there are greater chances of business failure, and hence thriving would be difficult.

D- DESIGN: First things first, let’s accept the fact that we are in tough times now, and the only way to get through this crisis is by working our way through it. COVID 19 is for sure going to change the way we LIVE, BUY, SELL, and MARKET our goods and services, therefore instead of panicking and being perplexed of what’s in store, we must look out for way on what we can do differently, to change or minimize the effect! One way out of the mess is to design differently. The design you had earlier concerning business model, customer acquisition, or even the display of your exhibition booth, must be designed uniquely and should comply with today’s change in policy.