Digital Growth and the Second Wave of COVID-19

The coronavirus pandemic has affected nearly every aspect of our lives, from the way we get around to how we spend our money, including how we work and our personal priorities. And despite the encouraging news about vaccines, these effects will most likely continue for some time to come.

In the business world, in particular, the impact has been undeniable. And while we’re witnessing worrying scenarios where many businesses are unable to survive—a situation that this second wave is seriously exacerbating—for others, their digital transformation has been a lifeline.

According to Growth Tribe, “even before COVID-19, 92% of business leaders already acknowledged that their business models would not remain viable without some form of digital growth,” and the pandemic has only accelerated this trend.

So, how can your company, supported by digital transformation, continue to face the challenges of this second wave of the pandemic? We’ll provide some examples below.

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1 - Keep innovating and experimenting

Virtually every business had to adapt and reinvent itself in a matter of days or weeks, when under normal circumstances such initiatives would take months or years to implement. And those that are able to continue innovating and becoming more digital will be better prepared to face the effects of the pandemic.

2 - Customer-centricity remains crucial

The pandemic has accelerated the adoption of new consumer habits and, consequently, the digital transformation of businesses. Habits such as shopping online or ordering food (or other goods) for home delivery are two of the most notable examples and have contributed to the growth of e-commerce and delivery services. Similarly, the decline in face-to-face interactions has fueled the growth of digital communication tools.

To keep the customer at the center of your strategy, seek not only to adopt new digital channels that align with your customers’ changing consumption habits, but above all, prioritize engagement through these channels to strengthen relationships.

3 - Adapt Work Methods

COVID-19 has changed the way people work in ways never seen before. The prime example of this is remote work, which has evolved from a short-term solution to a trend that many employees say they want to adopt long-term (adopting more agile and flexible ways of working going forward will remain critical).

In this regard, it is essential to prepare technological resources that support remote work. And never forget about learning and developing digital skills, as employees need to feel comfortable with new ways of working and with a more digital organizational culture.

4 - Be bold in the digital transition

As we’ve already seen, the pandemic has accelerated digital transformation processes that many companies were already considering. Studies indicate that the challenges posed by the pandemic accelerated the equivalent of six years of digital transition in companies in just a few months (Twilio).

Being bold in this process means, whenever possible, adopting digital work methods, eliminating any gaps or disparities in your employees’ digital skills, and leveraging technology to make work more efficient: marketing and sales automation available in tools such as HubSpot; digital collaboration tools such as Google Drive, Office 365, or Teamwork Projects; omnichannel communication platforms such as Slack or Microsoft Teams; software for virtual meetings such as Zoom or Skype; and cloud data storage tools such as Dropbox or OneDrive.

And by the way, don’t neglect cybersecurity—an issue that’s becoming increasingly important as we become more digital.

If change was already a constant, that’s now truer than ever. And prioritizing innovation and digital growth may, in fact, be the best way to survive and thrive in this “new normal.”

We’d be happy to help your business grow through digital solutions. Don’t hesitate to contact us!