Leading your own brand successfully through the crisis

Despite unmistakable warning signs of the coronavirus outbreak, the pandemic caught most companies relatively unprepared and they were forced to suddenly switch to crisis mode. Since then, quite a few of them have been struggling to survive.

As the pandemic upended the service model and the economics of businesses, they had to find new, cost-effective ways to stay in business. Those who were smart took the opportunity to adapt their brand experience: Entrenched brand strategies were questioned, innovation was accelerated, e-commerce and digital channels were introduced - in short, the focus was on long-term competitive growth. If you like, the pandemic has led many companies into the future.

Covid-19 has brought to light shifts in consumer behavior and revealed operational weaknesses that some companies were unaware of. Some of them have used the time to adapt or even expand their brand experience - after all, more and more people are surfing the internet and spending their money there.

As the pandemic changes the consumer landscape, companies must intensify their efforts to keep an eye on dynamic shifts in demand for their brand. It would be presumptuous to assume a full recovery once the storm has passed. The motto "back to normal" is neither realistic nor goal-oriented if brands want to meet or even exceed consumer expectations in the short or longer term.

A good brand experience is more important than ever

Let's explain this using the example of airlines: Now that people are starting to travel again, they are placing more value than before on the customer experience that an airline offers them - especially on busy flights. The US airline Southwest Airlines, for example, is considered to be particularly customer-friendly. It recently announced that it will leave the middle row unoccupied in October too. This makes it the first airline to extend this measure beyond the summer, thus reinforcing its reputation for taking the wishes of its guests seriously. Many passengers think twice before booking with an airline that fills its flights to the last seat. This is not good advertising for airlines.

No one can say how the pandemic will affect the future of airlines in the long term. Nevertheless, every provider should monitor how customers' travel behavior and preferences are changing. This is the only way they can react in time to avoid being left behind. Safety and trustworthiness are points that travelers will pay more attention to in the future - and for a longer period of time than one might initially assume.

This example is just one of many. It is intended to illustrate that many companies - regardless of industry or category - still believe that it is not worthwhile for brand performance to track signs of market fluctuations. Instead of increasing the frequency of their listening programs in uncertain times, many companies suspend or eliminate them altogether. However, this only leads to further blind spots regarding customer behavior - and thus to dissatisfied consumers, poor customer loyalty and ultimately to larger targets for the competition.

Always be prepared

After face-to-face retail was shaken to its foundations, customers adopted new behaviors. When shopping was no longer advisable from one day to the next, consumers had to turn to the Internet. Since then, they have been satisfying their needs - whether shopping, entertainment, education, healthcare or financial transactions - on the World Wide Web. It would be a mistake to think that the newly discovered options - including improved user-friendliness, greater convenience and an optimized customer experience - will not have an impact on future purchasing decisions.

Without keeping a constant eye on your brand and analyzing how these factors influence the public perception of your brand, you will make the wrong decisions. How well do online courses work in the long term? How many customers will store exclusively online in the future? How many patients will only consult their doctor virtually in the future?

Be on your guard: you will also have to overcome unexpected economic challenges in the future. What lessons can we learn from this unfamiliar situation?

The most important lesson is to always be prepared. The cross-industry upheavals during this pandemic show the importance of responsiveness, adaptability and flexibility to ensure your brand continues to thrive in the future - and immerse yourself in a "new, better reality". Leverage the ability to anticipate changes big and small to stay one step ahead.