Be Prepared To Pivot!

Updated: Mar 26, 2020

The digital future is here, right now!

Earlier this week, we caught up with a LinkedIn live stream from the team at Goat As a global social media and influencer marketing agency, their perspective on the current Covid19 impacts on digital media and innovation were of interest to us.

The stream lasted around an hour and is reproduced below.

For a quick summary, here are a few key messages:

1. Brands have quickly shifted attention away from selling products to conversation around how to help customers and employees. 'Doing good' is the new KPI.

2. CSR (Corporate Social Responsibility) has previously been a little, well, corporate. Now, supermarket chains have demonstrated 'real' purpose and see themselves as a national resource. Competitors are providing value to society.

3. Businesses are faced with two choices: They can 'hang on' and wait for 'business as usual' to return (anecdotally, Goat see this across Asian markets). Alternatively, Goat recommends that businesses quickly realise the world will evolve rapidly to something altogether different and align a new strategy to this to be fit for (the future) purpose.

4. There's a unique opportunity for GenZ as digitising of the global economy that may have taken 5, 10 or 20 years to deliver is happening now! GenZ are likely to be 'digitally native.' So, with a revolutionary move to digital, those later in their career need to learn quickly and adapt if they are not already there.

5. Successful brands will be those which can pivot, right now. The example was Brewdog which has switched from brewing alcohol to producing hand sanitiser. Such businesses, which can meet the evolving needs of customers will hire talent which is more innovative, eager, excitable, energetic and can think on their feet.

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Photo by John Schnobrich on Unsplash

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