We are often told repeatedly that, in the business world, there are no prescribed formulas or rules that apply forever and ever. It is also often said that times of turmoil and crisis are the most conducive to opportunity. However, when a contingency occurs as abruptly as the one we currently experience globally, the outlook seems to cloud over.
However, and despite the complexity of a circumstance such as that experienced in the environment of COVID-19, the examples of success, strength and the answers to continue growing along with the obstacles continue to be built day by day.
It is here and now where success is reformulated and proposed to set new horizons. It is in times of uncertainty and adversity that brands with history and solid values set the example, showing that strength and generosity are the best teachers.
Faced with the business and challenging landscape that an unprecedented event such as COVID-19 is drawing, the advice to get ahead is clear, always putting success in the spotlight. Take note:
1. Be empathetic and resilient.
Building a brand’s success takes time, and along the way it can compromise investments, resources, and other factors that sometimes cause you to lose focus and stress. However, good attitudes are the greatest example and the ones that are the best spread.
Knowing how to attack adversity with empathy, sensitivity, consciously and always forward is the basis for directing our business to succeed in difficult times. A proof of this can be found in the union and solidarity of the brands after the last earthquake, where the human factor was the protagonist and main strength.
The idea behind this is clear and is that in every great business there are valuable people; not understanding its needs and conditions is putting at risk up to 70% of the fundamental assets that make it successful. According to the Pan American Institute of Senior Business Management (IPADE), in times of adversity, 80% of the company’s time should be focused on the immediate need of the people, since failure to do so could have significant consequences.
2. Communicate firmly and clearly.
A company or company that changes its discourse in a short time, that falters in difficult times, is a company that perhaps does not reflect as much confidence in itself and its customers. The basis of love brands lies in the certainty not only of a unique and unmatched product.
If you incorporate your brand message well, it will never be at odds with the nature of the sale itself, nor will it neglect its sensitivity or empathy in the face of the most adverse situation. Currently, all brands know that it is time to be at home, keep a cool head, resist and find the best solutions that add results. That should never be out of the focus of your communication.
3. Adjust your business to market trends.
COVID-19 has slowed down a good part of global consumption and purchasing power, as well as triggered uncertainty in a good part of the industries and markets. However, in this wave many other activities and sectors have shown themselves to be very useful, taking advantage of the moment in a positive, useful and comprehensive way.
In this sense, experts point out that this is the key moment for electronic commerce. Safe, immediate, convenient and even economical, e-commerce is the great commercial ally of this pandemic. Receiving the best products at the door of your home today is the opportunity that your business waited for to expand and diversify profits.
4. Learn from the environment and think in the medium term.
Not only does seeing what the competition is doing and monitoring market behavior matter; You have to anticipate the facts, the next big trend and take risks, but always in a grounded way. These moments are the ideal ones to enjoy the strengths of your brand and build the success you want for your business in the following years.
To be attentive is to learn from what is happening. However, the urgency of a moment like the one posed by COVID-19 in the world also invites us to be cautious. The long term is still uncertain and the short term is a roller coaster that has not yet said its last word.
5. Change with vision and goals.
It is never too late to renew and try new horizons without losing the essence and strength that makes your brand iconic. In this sense, an example can be found in a firm like Chivas Regal, which has expanded land, building versatility of its product, where the availability and global solidity of its quality speak of a unique product, with vision and optimal setting of its objectives.
6. Activate the values and DNA that gave birth to your business.
Taking up the example of Chivas Regal and the evolution of its history in complex and uncertain times – which the brand has lived through for centuries – we are witnessing that the answers are not always abroad. And although you have to be attentive and not close yourself to what is happening out there, it is an ideal time to turn to see history from its roots; in the heart that explains its value … There lies the key. And in the case of Chivas Regal we talk about an unbeatable blend, with unique sensory qualities, tall and recognized worldwide.
Good products are the essence of a quality brand. But values such as greatness, natural virtue, as well as a unique and generous character in all areas of its operation, will be the elements that bring out your business at a time like the one the world is experiencing at this time. Is the battle harder?