COVID-19 has accelerated a race to the middle for technology, engagement, connectivity and strategy, changing business forever
One of the unforeseen benefits of this pandemic is an accelerated adoption of digital as an operating model for organizations and a behavioral mindset for customers and employees. From the elimination of silos to the seamless transference of work and ideation, we’re experiencing a more efficient system of productivity and excellence. Organizations are moving from transactional to sustainable relationships, utilizing technology and data to forge greater engagement and connectivity based on knowledge and newfound insight.
For communicators and marketers, this intersection is defining a new reality for:
- Brands – Digital is translating static brands to dynamic lifestyles.
- Innovation – Companies no longer own innovation. Rather, customers are dictating what comes next, sharing new ideas that defy the status quo.
- Knowledge acquisition – Digital accelerates the entire concept of idea creation and solutions, pushing companies and employees to new heights of value creation.
- Organizational culture – The way we work, interact, organize, recruit, develop and collaborate takes on new meaning as attitudes and values are shaped by a more focused view of purpose over profit.
- Trust and relevance – These will be the bedrock of company existence but ever-shifting as the marketplace and customers become more confident and able to better discern given the plethora of information and context available.
Given this upheaval, leaders are looking to devote time and capital to redesigning their approaches to marketing and communications, specifically employee communications and engagement, content and new technologies to understand influence, opinion, relevance and customer preferences. Less time and activity is being given to such legacy processes as long-term strategic planning, product development and employee satisfaction. Digital is rendering such time-consuming and limited activities obsolete. Agility and speed are now the north star for organizational success.
“Probably the most difficult decision a CEO makes is to disrupt a business model that once worked.”
However, there is one other area that is being dealt with as part of this seismic change: business design. That is, how an organization is organized and designed for optimum value to its stakeholders. Probably the most difficult decision a CEO makes is to disrupt a business model that once worked. Doing so means the very core of the enterprise is shaken. New pieces come into view. Priorities shift. Contradictions happen for a time. People’s lives are turned upside down. Losses may happen for a time. The company’s narrative may be lost.
But through it all, staying the course and redefining the business model in a digital world is ultimately what saves a company or brand from future demise.
The Digital Intersection is happening right before our eyes. To navigate through this landscape, we suggest you consider the following reference points:
- Signal the Change – Be upfront about what’s taking place and what it means.
- Adopt Technology – Don’t protect yesterday; forge ahead to what’s next.
- Follow the Data – Insight will determine the direction.
- Start New Conversations – Do this specifically with employees; be provocative; be contextual; be empathetic.
- Recognize It Won’t be Clean – People won’t necessarily understand right away; keep moving forward.
- Focus on Relevance – This is the balance of what you want to say and what stakeholders hear.
- Be Forthright – Never waver in your journey. Ever.
COVID-19 continues to impact our lives and will for some time. Assimilating the changes we’ve experienced and enacted means developing a whole new playbook from which to operate.
Coming through the other side with our integrity and our efficacy intact albeit with a whole new worldview is the goal.
W2O’s additional COVID-19 coverage