For years, reputable business schools have been developing methods for crisis management, quoting cases from big impact brands. Many organizations had plans and teams in place. However, no organization saw this one coming, let alone be ready for it. The coronavirus pandemic was experienced more as a “life quake”, unlike any other crisis in recent times. There is no playbook, there is no plan – just a crisis, with no management.
We stepped into a reality we never imagined could exist, not even as a remote possibility. We had to forgo what we know, scrap default settings, our existence as individuals, organizations, and brands.
As the economic and social impacts of COVID-19 have mounted over the past few months, and the next normal is dawning on us, it became clear that the brands of the future are in the making. The pandemic taught us to understand and accept that business-as-usual will not work moving forward.
We grew quite curious about understanding what’s changing and why brands won’t be able to go back to a pre-COVID-19 state of being. Through one-on-one interviews, a region-wide online survey and extensive research, we uncovered compelling insights and facts about the impact of the COVID-19 pandemic on brands and markets and identified key strategic takeouts on how to sail in this new uncharted territory.
In this report, you will learn
– Why, in hard times, asking the right questions overrides the quest for answers
– How brands will need to adapt to a new normal, and what they need to re-learn moving forward
– Why a brand’s purpose is now the only way to reach customers’ hearts
– Why and how brands need to innovate in a post-COVID-19 universe
– The importance of a brand’s culture in enticing staff and motivating the market
– How image will successfully set a brand onto the path of success in a New-normal