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Innovation Required: Disruptions For A Better Future

The COVID-19 pandemic has, in many ways, shown us which things are essential and which things are not so necessary.

The COVID-19 pandemic has, in many ways, shown us which things are essential and which things are not so necessary. For example, my children’s parent-teacher interviews look like they will be conducted in a virtual space from now on. 

Turns out the mutually favourable circumstances are highly productive for everyone involved. Until COVID-19, I had never thought of these meetings as a customer experience. However, now it is clear that for all organisations, innovation is necessary and that these disruptions are a catalyst for change towards a better future.

Businesses are experiencing a time when customer loyalty and trust are being put to the test. Simultaneously, consumers are adopting new behaviours and developing new habits. The changes in the economic landscape aren’t just affecting businesses; they are evolving consumers and the way we make purchase decisions and transactions. These changes represent a significant opportunity for brands. By putting your customers’ interests first, this can be a time for brands to lead and thrive into the future.

Australian’s shopping, banking and recreational activities are rapidly evolving, and that means brands have to be in the right place at the right time with helpful and engaging experiences when it matters most. By using vital behavioural principles, marketers can develop compelling experiences to captivate and help consumers travelling from awareness to purchase.

recent report by Retail Touchpoints reveals that 68% of retailers have gained new online customers due to the COVID-19 pandemic, with 46% of those reporting that their e-Commerce customers have been making more frequent and larger purchases. The report also suggests that the retailers’ task going forward will be to retain as many of these new shoppers as possible. Strategically minded omnichannel retailers will be seeking ways to encourage online shoppers to visit their brick-and-mortar stores as well, as studies have shown that multi-channel customers represent a higher Customer Lifetime Value (CLV).

Deloitte’s insightful white paper highlights that companies want to continue to provide excellent value to their customers, and they want to return to growth as soon as they can after the crisis lifts. It has never been more critical for companies to look ahead. They need to consider improved and innovative solutions now that will serve customer needs today as well as provide momentum into the future.

Some examples of technology to help innovate now and for the future include:

These innovative solutions are ready right now to help build trust and loyalty, boost sales and basket sizes, and future-proof physical environments for successful outcomes in the new normal.

Digital transformation isn’t a one-off project. It’s an evolving journey that requires the right partners. Let’s talk about how we can help your organisation innovate and use these disruptions as a catalyst for change towards a better future.

This article first appeared on LinkedIn