How to prepare for a post COVID-19 business world

By April 20, 2020Insight Blog
Business

By Peter Bennett, Business Development

 

It’s clear that businesses are still navigating their way through the disruption of the coronavirus pandemic, but what will happen to the world of business once the impacts of this crisis start to ease?

One obvious effect that COVID-19 has brought upon us all, is that the virus has leapfrogged many industries into a more digitally focused way of working.  Savvy brands will now be turning their attention to the profound economic and societal changes around the world, including buyer behaviour and changes to service offering.

And as we imagine our lives slowly getting back to some form of normality – with less Netflix binges and one hour supermarket queues – what will that mean for brands looking to quickly adapt to this shift in society, and how do they prepare for it?

 

Managing consumer demand

It’s clear that some businesses will see a sudden surge in sales once government regulations start to loosen, but how brands across the country will prepare for that surge, depends on individual approaches.

As demand for certain products or services begins to increase again, so will competition within the market – so as a brand, you may now want to consider how you’ll stay ahead of this curve. Similarly, if your brand or service was incredibly relevant and sought after during the pandemic, now is the opportune time to analyse your approach and try to establish a plan to sustain any sales growth you’ve enjoyed.

But how do you stay (or become) relevant once all of this disruption has gone?

In both of these cases, business owners and marketeers might want to consider incentivising their workforce in some way. Working across both sales and channel incentive programmes, the team at FMI are no strangers to delivering incredibly successful recognition schemes which provide great ROI and help you manage demand for your product or service – whichever end of the scale you fall.

There will come a time when workforces and teams will be back in their usual working environment, whether that’s on the ground in a sales setting, in the office at HQ or based remotely around the world. No matter the situation, an incentive brings people together and helps them to work towards a common goal and reward. From incentive travel trips to employee recognition schemes or even corporate rewards, an incentive re-energises and inspires workforces; and after such a devastating global crisis, you might want to consider one as a priority.

Re-launch, re-open and remind

During the last couple of months, the team at FMI have been busy switching up our clients’ planned events – we’ve moved an international roadshow to an online forum and changed travel trips to digital e-code rewards; allowing us to still meet goals and KPIs for our clients.

And whilst it’s been refreshing to challenge our original approaches, we’re also incredibly excited for the events industry to get back on its feet!

Many business owners – large and small – might want to think about how they’re going to re-launch their business after government regulations are lifted, and with brands wanting to position themselves at the forefront of their audience’s minds at that time, what better way than a get-together?

As the world navigates virtual communication and manages its isolation, face to face contact is something that the human race will no longer take for granted in the future; so why not use that to your advantage?

With an array of event delivery programmes under our belt, the FMI events team can help you get your brand back on its feet, through a host of engaging event ideas, which will ensure your re-launch is a memorable one. Whether that’s an experiential marketing plan, an overseas trip for stakeholders or a large-scale corporate conference to re-engage your workforce, our first-class team are experts in wide-scale event planning and delivery.

 

Planning for the big push

And while all of the above is something that marketeers and business owners should be getting excited about, we also understand that you might not have the resources to execute any attempt at brand marketing right now.

That’s why we’re here to prop you up.

Many brands will be looking to prepare for their post-COVID marketing push, and we’re happy to assist any business whose marketing resource might have decreased at this time. Whilst the FMI team are experienced in delivering large-scale corporate rewards and events, we’re also practised in supporting businesses of any size on a vast range of marketing collateral.

From video content and branded merchandise to design and advertising, our support for businesses managing their way through this crisis doesn’t waver in terms of what the team can offer.

 

Planning for the long-term

In my opinion, brands and businesses that rush back to their old ways of working might be very surprised to find that their approaches simply don’t resonate any more. The hearts and minds of brands have been (sometimes unwillingly) exposed to the public, but with consumer perception more astute than ever, do you need to re-evaluate your long-term marketing approach?

Perhaps you should use the crisis as a way to re-define your brand’s approach to communication; analysing both your audience and your channels. Consider planning for this switch-up now and exploring new methods and tactics for success.

Moving forward, we know that brands will become closer to their customers and staff as they build more genuine connections with them through marketing. I believe that the next generation of successful businesses will lead the way in ensuring this approach becomes the norm; and one which is valued by brands and audiences alike.

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