Trust in Consumer business
As consumer businesses continue to define their COVID-19 response strategies and on-going plans in the new normal, there are six topics to consider:
Now is the time for leaders to put their purpose under the spotlight. It’s critical for organizations to think through how their organization is dealing with the COVID crisis and the way in which they are communicating with employees, customers and the wider community. The questions around legacy, what a company stands for and the way they have treated their people, stakeholders and suppliers, will be central to building long-term trust overall.
#2 Business strategy and recovery plans:
As organizations move into recovery, it’s important to question whether a rethink is needed on financial and non-financial aspirations. In an environment of continued uncertainty, companies will need to reflect on their overall value proposition to customers – with a laser focus on where market activation efforts are spent to grow and generate positive returns. During this time, data and analytics can provide an immense resource for driving more informed decision making end-to-end.
#3 Customer activation and experiences:
In the new normal that organizations find themselves in, leaders will need to look at how their business strategy continues to put customers front and center. This is where experiences comes into play – ensuring that customers are being communicated to in a seamless manner, without roadblocks or disconnected messages. From integrated marketing to real-time personalization, digital marketing and more – putting customer activation and experiences first, will be key.
#4 Workforce, workplace and work remobilization:
When it comes to The Future of Work, we’ve all seen how COVID-19 has changed the way in which teams and organizations operate. From a work perspective, leaders are needing to look into how a dispersed workforce will perform overall and to determine the balance between virtual elements and face-to-face meetings. In adapting to the new normal, organizations need to assess any critical skill gaps and where disruptions across a workforce are occurring. From regulatory changes to public health directives and more, workplaces across the board are needing to quickly re-examine their protocols, processes, strategies and configurations.
#5 Supply chain visibility and network optimization:
When it comes to businesses implementing the recovery phase of their strategy, leaders will need to consider the best way of orchestrating supply chains that ensure the flow of products and cash in a safe work environment. From restarting to ramping up operations, it’s important that organizations have greater visibility of the risks across their end-to-end supply chains. From a thrive perspective, businesses will be looking to improve their resiliency, achieve a sustainable cost model and better leverage information and automation where appropriate.
#6 Risk management:
Organizations will be assessing the parts of their business that they feel might have a greater level of risk exposure in light of COVID developments. From cyber security to risk exposures across a business, leaders will need to determine the level of resilience their company is operating at and what needs to be re-evaluated. As the landscape continues to evolve rapidly, safe workplaces will be top of mind.
In the new normal that organizations find themselves in, leaders will need to look at how their business strategy continues to put customers front and center.