Engage with Customers NOW
COVID-19 has flipped the entire world of business on its head. As painful as it is to admit, whatever you thought you knew about your customers in a pre-COVID world, doesn’t stand to this day.
Recent events will have completely changed the way your customers think, act and listen. They have different pain points, different demands, and entirely different priorities.
With this in mind, time is of the essence if you want to stay ahead of the competition and reshape your business to satisfy a constantly evolving marketplace. Heads of Transformation must rally the troops to collect real-time insights and identify new customer segments before it’s too late. If your organisation is still working on the assumption that your customers want the same things today as they did two months ago, you might be digging your own grave.
Innovation leaders must assemble teams to brainstorm strategies to target new customer segments and align with customer pain points. Whether it’s tracking their behaviours, identifying market trends, or finding solutions to neutralise their fears, innovation is vital to adapt to the ‘new normal’.
For example, recent research by Wine Intelligence explores the changing attitudes and spending habits associated with wine drinking over the coming months. While the wine industry is yet to feel the full force of the coronavirus, experts predict a significant consumer shift that will require marketing teams to evaluate their customer segments in a post-COVID world.
In times of uncertainty, corporations should think of Heads of Transformation as the eyes and ears of their organisation. It is their responsibility to identify the market shift and deliver innovative products/services that satisfy changing customer demands.