UPDATE: Return to work updates now included – click through the themes below to see what steps your company should be considering.
As the COVID-19 pandemic moves to a new phase, customer behaviours have changed in ways that we have never seen before. For businesses, this has been first and foremost a demand crisis, which determines large elements of the commercial challenge. Market access and demand for products and services has changed, fundamentally driving significant changes in customer behaviours needs and expectations. There have been material shifts in buying patterns and channel usage, often daily, and in several different ways at the same time. We now expect further changes.
Commercial resilience remains of critical importance. Capturing, understanding and meeting what will inevitably be rapidly changing customer demands and behaviours at a time when patterns are highly uncertain will be key for both a return to work and the new reality post COVID-19. It will likely require many businesses to review and potentially adjust purpose and strategy to thrive.
To navigate uncertainty, businesses need to prioritise creating human connections across an unexpected, unfamiliar landscape. To make effective decisions, actionable customer insights are more important than ever, so leaders can rapidly pivot their support to meet often rapidly changing needs; especially amongst the most vulnerable. Best practice in customer and colleague experience has never been more important. Those that get this right will both weather the storm and lay the foundations for the future.
KPMG’s Guide to Maintaining Enterprise Resilience has been updated to consider how businesses can prepare for their Return to Work. Below we outline some of the key steps that we believe organisations should take to maintain their commercial resilience.
How do you monitor, measure and adapt to changes in demand in markets, channels, products and services?