Confident predictions are being made but with so much uncertainty it’s a guessing game as to how things will play out. What we do know though is a radical shift in perspectives has taken place over the past year with the important things in life that we often took for granted such as family, community and balance now taking centre stage in our minds.
These shifts will have big implications for brands with consumers revaluating how they spend their time and money in search of a greater sense of togetherness and balance in life. Brands that are stuck in the hustle and bustle of the 9 to 5 and have built their offering around ease, convenience, and imbalance could quickly be left behind if they fail to adapt.
Post-lockdown should be a time for these brands to start a programme of renewal to ensure what they offer and what they stand for aligns with this new consumer mindset. The problem many will face though is that with so much change happening around them, knowing where to place their strategic bets, with little to no evidence to guide them, will cause many to stand still and allow others to take the opportunities that emerge.
The way to navigate through this uncertainty is to think less about predicting what the post covid world will look like and instead spend time discovering it. This means stepping out of the boardroom and away from flashy PowerPoint presentations and getting close to your customers to understand how their lives are changing and testing new ideas and propositions with them to see what grabs their attention and what does not. Instead of thinking about brand and strategy development in terms of a 3-month process that finishes by a certain date regardless of what happens in the world around you, think about it in terms of market understanding and validation, where you wait until clear signs emerge so that informed decisions can be made. This is about taking an iterative approach to your strategic development through ongoing customer validation rather than a predictive one.
So, to answer the big question of what’s going to change and what’s going to remain the same, stay close to your customers now so that when clear signs start to emerge you are ready and not scrambling to catch up. At MCCP, that is our starting point, and we have honed our approach through covid to ensure that your strategy going forward is based on a true and deep insight from the outset.
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