Reimagining the future in the wave of Covid-19.

Covid-19 has transformed the world. As uncertainties continue to multiply, brands and businesses must learn to navigate this unchartered water in rapid cycles. To inspire brands and businesses to move forward, however daunting the outlook may seem, Head100 marketing agency has shared their perspectives on the possible pathways brands and businesses could reimagine the ‘next normal’ – be it old or now.

THE 4 PATHWAYS

This pandemic has shifted consumer behaviors and societal values, giving rise to short-term winners and losers. Different sectors and businesses will recover at different speeds and require distinct approaches to lead themselves into the new reality. Using the analogy of different fishes amidst the Covid-19 storm, the pathways outlined – Rescale, Rethink, Resilience, Reallocate are how brands and businesses can outmaneuver this wave of Covid-19.

1. RESCALE : BE A DOLPHIN AND PLAY THE WAVE LIKE A PRO.

Covid-19 has created a shift in consumer behavior that favorably impacted many businesses, especially the healthcare and the technology sector that experience a flood of new users overnight. For these companies, the pathway is to rescale the business model to handle the exponential surge in demand and transform these short-term peaks into a new and sustainable baseline.

2. RETHINK : BE A SALMON, SWIM UPSTREAM AND PROSPER IN NEW OCEAN.

When brands and businesses find their current business models losing relevance or threatened by Covid-19 impact, it is important to rethink the business model to come out stronger in the long run. With Covid-19 disruption, what got them here may not get them there. Product, consumer and channel diversification including digital acceleration to serve new or existing demand in a new way are some of the most common rethinking observed.

3. RESILIENCE : BE AN EEL, SURVIVE AND THRIVE IN ANY WATER.

Naturally most brands and businesses are working towards returning to the “normal” baseline. The impact today, high or low, is recognized as only momentary, and consumer long term needs still exist, such as those of restaurants, airlines, and hospitality industry. The focus is thus on tactical tweaking of the business model for survival before the full rebound can be expected.

4. REALLOCATE : BE A TUNA, LET GO OF YOUR TURF FOR THE BETTER.

When the business model is stressed beyond repair, whether consumer demand is forever shifted or the supply can no longer be viably fulfilled, it is time for a permanent overhaul like a Tuna that constantly moves in search for the most optimal water condition. This is often observed in brands and businesses that are already under distress prior to the wave of Covid-19. A reprioritization or in the worst case a complete shut down of a product line or a business unit to focus on a higher performing priority can be expected. Reallocating, however, is not always negative. It is often seen as an opportunity to cut fat from the ecosystem to come out leaner and fitter than before.

Clearly this is no ordinary crisis. The 4 pathways outlined – Rescale, Rethink, Resilience, Reallocate are potential routes to help brands and businesses reimagine the future and navigate the wave of Covid-19 into the next normal. The future will belong to the prepared.