Back to Blog

Market Measures & Destination 5.0> Business Recovery & Transformation Toolkit

Published under Business Strategy , Covid19 , Consumer Sentiment , consumer trends
Written by John Gurd

As restrictions are eased across many parts of our economy the relatively friction-free lives we once knew have been replaced by obstacles and pain-points across many aspects of day-to-day life.

The historical efforts of businesses from across all sectors of the economy to create positive customer experiences have been interrupted by enforced restrictions on the way we are able to interact in physical spaces.

Previously enjoyable retail experiences have been replaced by more sterile transactional arrangements, interrupted by queues, signs, screens and one-way systems.  Weekly trips to the supermarket have become somewhat of an ordeal.  Online availability and delivery lead-times on some product lines are reminiscent of the early days of ecommerce.  And what awaits us when pubs and restaurants re-open in July is anyone’s guess.

While lockdown was a unique point in time when everyone accepted change and accepted that life was not normal (for good reason), consumer experiences over the coming weeks and months could genuinely redefine the way people behave and interact with products, brands and services.

If, as restrictions are eased, people return to pre-lockdown behaviour and have a bad experience, there’s a good chance they won’t go back.

This represents both a challenge and an opportunity to businesses, to re-evaluate their market opportunity and deliver innovative solutions to re-engage with their customer base.

In conjunction with our partners in the Destination 5.0> Insight & Innovation Network, we have developed a 4-point Business Recovery & Transformation Toolkit to help clients re-invent aspects of their business to recover and thrive ahead of the competition.

The 4-points in our Business Recovery & Transformation Toolkit include:

1. Re-base the opportunity and understand where you are now in terms of the size and dynamic of our addressable market

  • Re-evaluate your market, the demand for your products & services, and your customer profile, attitudes and behaviours.
  • Which customers are at risk? How have behaviours evolved?  What are they buying, how, where from and why?

 2. Innovate & future proof your business to get to where you want to be to retain customers and recruit new ones over the coming months

  • Proposition idea generation and refinement to reflect what your customers need and want from your brand.

 3. Develop CX transformation initiatives to understand how you get there through new digital and physical touchpoints

  • Re-mapping the perfect customer journey and delivering updated customer experiences

 4. Put in place a performance ROI framework to ensure ROI given the immense pressure on budgets and capital expenditure

  • Measuring ROI accurately from marketing and better tracking communications & brand health

Every element of the toolkit will help businesses return to growth and future proof themselves against whatever comes next.

All expertly delivered by Market Measures and the Destination 5.0> network.