By Misha Rae
Would you agree that this is the ideal time for companies to reposition their business models to unlock immense value? This is the most critical time for organizations to be nimble, pivot quickly and be creative, while aiming to reimagine their customer experience.
Let’s take a look at our local fast food chains as an example. Who would have thought that KFC, Burger King or even Popeyes would have ever considered having a delivery service? But, the new environment has forced them to step out of their comfort zones of their ever so crowded physical locations, to deliver meals directly to the homes of their customers.
The fact is, technology has become the new best friend for some customers, who previously, had no confidence and trust in these systems. Some of these people would rather stand in long lines just for the human interaction experience, as it is a part of our culture to socialize in some of these places, especially for elderly folks. Now, there is a visible shift, as more people are appreciating the new convenience and ease in which transactions like these can be done. Organizations must ensure this new norm is maintained, especially after having accomplished the mind-set shift for these customers. If not, we would have wasted a crisis.
Because of this, the digital agenda for some industries such as financial institutions and government agencies and others have been fast-tracked, thanks to Covid-19. There has been a noticeable increase in the migration of certain transactions to the digital channels, in response to physical distancing measures ordained by our Government. This has resulted in a reduction in long lines that customers have cried bitterly about in the past.
This change needs to become our new norm. It is therefore important that companies constantly come up with new ideas, keeping a close ear to the voice of their customers; implement these ideas and be ready to quickly pivot.
This is how we can reinvent the future. Look at the Netflix example. They have evolved from not only distributing content digitally, to become a leading producer of original content winning 37 from 128 nominations, including Emmy and Oscars among them. This had to be an intentional part of the strategy.
Don’t be daunted by the word ‘innovation’. You can do it too. Simply:
Look at some of your processes and begin eliminating unnecessary steps that add little to no value to the customer or your business.
Ask your customers:
What do they think you can do differently or better?
What new thing would they love to see you deliver?
What are some transformations that you have seen since this pandemic has started that you admire the most?
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