It has been said never let a good crisis go to waste, or the bigger the crisis the bigger the opportunity. These words may seem like platitudes during a pandemic like the recent COVID-19 one, but they still hold true.
Lessons Learnt From Past Crisis
When on September 11th, 2001 the World Trade Center’s towers were hit, it seemed like the end. The world changed fundamentally that day.
Housed in the basement of the towers was a major hub of the US telecommunications. As a result of the towers collapse, the phone network was severely weakened.
Organizations like the Red Cross couldn’t handle the phone calls because of the increased call volume, from people seeking to help, and the weakened phone system, from the damage done to the network.
It seemed like a double whammy of bad luck.
However, immediately the Red Cross informed people to donate online rather than phoning in their donations. Up to that time people were very weary about using their credit cards online.
The idea of giving credit card information online was foreign to most people and there was no trust that their information wouldn’t get stolen. However, the crisis pushed people to ignore their fears and start using their credit cards online.
This crisis changed the Internet.
Suddenly people began feeling comfortable purchasing online and ecommerce sites which would struggling pre-911 were suddenly booming. Not only did the crisis create a huge opportunity but it fundamentally changed the way people used the Internet.
COVID-19 and Its Impact on Businesses
COVID-19 will be remembered as an even larger historical crisis. No time in human history has the entire world been in such a lock down state.
Businesses that normally need to directly engage with their customers through their bricks and mortar locations were overnight completely shut down. This crisis wasn’t just a health one but as the days, weeks, months of the lock down wore on, it was clearly going to be a major economic crisis.
However, crisis breeds necessity and necessity is the mother of invention. The need created was for entertainment and engagement.
People were stuck at home and no longer able to go to work, go to restaurants, go to events or do group activities. When people can’t interact with others, their mental health suffers. People needed to be able to engage and do the activities they had done pre-COVID-19.
Businesses wanted to help, but many were stuck in a bricks and mortar business mentality. Crisis drives change. Businesses were faced with either going out of business or adapt to the new normal.
Companies like Zoom and Skype saw a huge boom in business. Businesses leveraged the technology to engage their customers in a way that had previously been ignored.
Adapting Through The Current Pandemic
Karate schools for example faced uncertain times. They relied heavily on in person classes and looked as though their business would end due to the crisis.
Needing to adapt, some schools tried offering to teach students using Zoom in their homes and parents eager to find ways to keep their children active were more than willing to pay the same fees as they would for in person classes.
After the crisis was over these schools who had made the leap to online were now able to go beyond their local markets. Now they could offer both in person and online classes as an upsell.
As well students who moved from the business’s service location were still able to continue attending the same classes regardless of their new location. As well they could act as ambassadors promoting the school to new students.
The benefits were huge more reach, lower costs of doing business and a means to upsell their existing customers. Other businesses who adapted saw similar benefits.
Developing a long-term Digital Strategy
Human has always shown tremendous capability of overcoming aversities and this time it is no different. The ability to adapt and adjust during crisis will allow businesses to survive under unfavourable circumstances.
Businesses, who see crisis for the opportunity it is, will always succeed. The Internet gives businesses the tools they need to adapt and flourish. This is why developing an online business strategy is essential for any business who seeks to not only survive the next crisis but to flourish during it.
We hope you’ve enjoyed this article on the importance of digital transformation during a crisis. What is your take on digital marketing during COVID-19? Do you think there will be a change in consumer behavior because of the pandemic? Leave a comment down below and let us know.
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Allan Pollett, the SEO Guru, is a Managing Partner of Stratwell Strategic Solutions.
