While most of us are still experiencing fatigue from the pandemic, the effects of COVID-19 pandemic is still an inevitable, and critical topic to discuss. It is just something that we need to debate and talk about right now, and for years to come, whether we want to or not. This is because the scale of the pandemic’s effects is so grand, and there is a lot that we can learn from this time in history.
The pandemic is accelerating change across all industries. Apart from the rapid shift to a digital-first approach, severe supply chain disruption and border lockdowns have meant businesses now need to respond to a volatile global market rapidly.
As a result, businesses that once planned their digital strategy in long-term phases must now condense their initiatives to a matter of months, weeks or even days. The reduced timeline for these investments also increases the pressure for businesses to get it right the first time.
The pandemic has provided a glimpse into a future where digital has become the first layer for every interaction, rather than just a cog in the wheel. This shift has led organisations and individuals to speed up the adoption curve almost overnight.
Digital and mobile channels have become the primary customer-engagement model, and automated processes have become a major drive for productivity. An agile way of working has become the prerequisite for seemingly daily changes to customer behaviour.
If there is one positive takeaway, it’s the increased experimentation among customers and organisations. We’re in a unique moment in time where companies can learn and progress quicker than ever before.
The silver lining from today’s crisis will profoundly influence ways that build closer ties with customers, employees and stakeholders.
Also read: How cloud computing is helping startups navigate the new normal
The new normal – it’s everywhere, but what does it mean?
As we all collectively strive to get back to pre-pandemic life, we have to accept that many aspects will never be the same, and that’s not a bad thing.
For one, COVID-19 has improved the way some businesses manage their operations. For instance, the text message service you receive on your mobile during your visit to the doctors, instead of queuing up in an overcrowded lobby and spreading germs.
This is an excellent time to reflect on the pandemic’s effects on our key industries and what they need to do to prepare for the new normal. It is necessary to determine what has changed as the world shifted to digital solutions that met its changing needs, audiences, customer service, and online experiences such as work and school.
This change provides an opportunity to leverage relevant information to improve operations and ensure the safety of customers and employees upon reopening.
How to foster a culture of experimentation
As the world opens up again, we will need to focus on how businesses will adapt and continue to invest as they foster a meaningful culture of experimentation. Implementing a culture of experimentation may come across as daunting at first, but opportunities to present ideas and ask questions should be created.
Companies must encourage employees to apply a “test and learn” approach to their daily activities in order to drive innovation, prevent stagnation and mitigate risks.
This approach ensures that employees are engaged and encouraged to stay curious while remaining relevant in a data-driven manner and delivering a quality experience for customers in a post-COVID-19 world.
Rapid experimentation can also drive new ideas and innovation across industries impacted by the pandemic, such as e-commerce. The Country Road Group, one of Australia’s largest fashion retailers, found that its online sites have become an increasingly integral part of its business, which COVID-19 accelerated.
It wanted to embrace a more agile way of working and run much faster, more powerful experiments, which Optimizely, together with accredited partner New Republique made possible.
Also Read: How COVID-19 was a blessing in disguise for these Vietnamese startups
One experiment involved a shopper’s experience of moving the “Add to Bag” button above the product copy, which resulted in a 19 per cent increase in clicks to “Add to Wishlist” and a 6 per cent rise in “Add to Bag”. This led to an overall purchase conversion hike of 2 per cent, representing a revenue increase of more than five per cent.
Experimentation does not have to be complicated, and there are ways to simplify and focus on avoiding being overwhelmed by the complexities. Streamlining is required to understand what is working and what isn’t.
Companies have triumphantly emerged from the pandemic, despite the struggles that the economy has experienced.
Embracing a culture of experimentation opens up possibilities for businesses, making them stronger and more resilient for the challenges this pandemic is likely to cause for years to come.
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