How COVID – 19 Could Be An accelerant To Digital Transformation
Over the past few months, the world has slowly come to a standstill. As the COVID -19 pandemic continues to rage on, it has brought every significant world power to its knees, changed lives, and the world as we know it for good. With many major countries under partial or complete lockdown and social distancing the need of the hour, businesses have taken massive hits, some running the risk of going bankrupt. The world economy is crashing at an unprecedented rate, and the only companies that would make it out of this even barely functional are the ones that are willing to step up their game and change their model overall.
COVID – 19: Worst Affected Sectors
- Travel and Tourism
From aviation to hospitality, over the course of months, many major players have taken severe hits. People are forced to stay indoors, which has rendered many hotels, restaurants, recreation, and amusement parks indefinitely closed with the businesses risking going bankrupt and mass unemployment looming on the horizon.
- Education and Service
Schools, colleges, universities have been forced to shut down in the face of this crisis, with all examinations being canceled. To bridge the gap, many institutions are turning to virtual learning solutions. Most companies have offered work from home facilities to its employees in compliance with the social distancing norm.
- Health and Wellness
Everything from gymnasiums to playgrounds has shut down to curb the spread of the virus. As a result, fitness freaks have formed online support groups on several digital platforms, sharing home workout videos, tips, healthy recipes, etc. to get through this time.
- Recreation and Entertainment
Film theatres have shut down, and employees are losing jobs by the number. Also, production work across all channels has been postponed, except for news and information media. This has led to a rise in Netflix and other digital subscriptions.
Change In Business Approaches Post COVID
- As this global nightmare does not seem likely to stop anytime soon, businesses are being forced to take a long and hard look at their models. Many players have used this opportunity to take their businesses online and diversify. This situation has significantly impacted customer sensibilities, demands, and interaction. A top to bottom change in existing communication and sales model is necessary.
- It is no longer just a question of sales and profit. Businesses need to seem genuinely helpful and not opportunistic. Many brands are playing up this angle by sharing useful information about the virus, taking initiatives to help employees and the community at large, and building goodwill.
- Brands are stepping up their social media game, engaging existing customers, and attracting prospective ones through targeted communication about useful offers, online marketing, and delivery options.
- All brand communication is currently centered on the pandemic but focusing on the bright side and giving people hope.
- Many brands have successfully located business opportunities while also being sympathetic and humane. Vodafone makes a case for this by encouraging users to recharge for others on their website.
