Companies have realized the importance of leadership capabilities in employees that were not considered critical before the crisis.
With the outbreak of Covid-19, companies in different sectors are struggling with the demand that is either falling or surging well past the supply. Industries are engaged in structural changes and are trying to reinvent their marketing business models to help reduce the disruption caused by the pandemic. It is an interesting fact to see that companies are laying a greater emphasis on employees’ physical and mental health than ever before.
Companies have realized the importance of leadership capabilities in employees that were not considered critical before the crisis. More and more companies with a solid foundation, realizing the seriousness of the crisis are using this moment as an opportunity to rethink and reinvent their marketing business models for the future. Brands and businesses are concerned with the changes that could happen in the customer need post-COVID-19. Companies are forced to move faster with innovating new capabilities for remote operation and do digital transformations within weeks than months and years and launch new products and services in a matter of days.
It is advisable to use ‘Self Service Touchless technologies’ to enable more personalized customer experience and to help customers do things themselves. It is observed that chatbots, airport-style kiosk computers, IT systems to remind users to be present at a particular place by text message and other forms of automated SSTT are deployed in the retailing and hospitality industries. Self-service channels and platforms are very helpful for employees, customers, and channel partners to get what they need fewer from IT and business. Artificial Intelligence and Analytics Tools help improve business operations and creating human-like interactions with customers. AI helps companies detect new consumption patterns for delivering hyper-personalized products to online customers. Companies can innovate an entirely new way of digital offerings by deploying design thinking to develop a deep understanding of customer needs. Design thinking gives a solution-based approach rather than a product or service-based approach.
Through reinvention of marketing models by putting AI, design thinking, etc to their business can eventually overcome the challenges faced in the current situation.
