How Should Leaders Respond During Corona

COVID 19 or Corona has shaken the world. The disease has caused 25,000 infections and 2 million deaths. It has pushed the entire world into a dark tunnel of unforeseen solutions. The only certainty is that everyone is scared, and they are right.

effect:
It has put millions of people out of work, billions of dollars in losses and trillions of dollars in potential losses. The company is about to fire, and people are increasingly worried that this may be “the greatest depression of the 21st century.” st century”. People question whether the world will be the same again.

The most important idea should be to stay inside and take care of yourself and your loved ones. You can not only save lives, but also the people around you. Without drugs in the near future, all we have may be social isolation.

Impact:
It is necessary to understand the fact that at this point in time, no statistical data can truly reflect the actual impact of the epidemic. Because there are too many unknown variables, such as the exact virus trajectory, the availability of medical equipment, the effectiveness of the purification work, etc.

It should also be recalled that the economy was in a downward spiral even before COVID-19 suddenly appeared.

Considering the above points, people generally believe that recession is undeniable. Make no mistakes; the possibility of recession is real. But this is not as obvious as it seems, because history has often shown us that bear markets do not always lead to recessions. No need to panic. Countries like the United States and the United Kingdom have been hit hard, while India appears to be relatively rich. Once we fall into recession, this will be a difficult time, especially for citizens of the middle and lower classes.

Although this period is a terrible time for the economy, new innovations have emerged in every possible field.

This crisis can promote the adoption of the latest technologies and business models. For example, the SARS outbreak in 2003 was the main reason for the surge in e-commerce in China, which led to the rise of Alibaba Group.

EdTech: With the closure of most educational institutions around the world, education is shifting to the Internet. Services such as Byjus, Udemy and edx have witnessed a 25.12% increase in daily active users and 82.73% spend.

Health: Traditionally, India has never invested too much in healthcare. With 0.8 beds per thousand hospital beds, India is one of the countries with the weakest sanitation infrastructure. However, this may change with the pandemic.
The introduction of the Aarogya Sethu application clearly shows the first signs of growth. Therefore, the public can now track patients who have undergone positive tests and understand their risk of contamination.

Hospitality: Hospitality and tourism have been hit hard. Many hotels and airlines have started to scale down significantly, affecting millions of people. As manufacturing and agriculture have shown early figures, this shock will gradually spread to other sectors. Forecasts show that 0% growth is a very realistic possibility.

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Status of the informal sector:

India’s informal sector is currently on the verge of collapse among nearly 85% of the country’s employees. They are trying to make ends meet. Most of the informal sector is daily-paid workers, and they are now trying to achieve their goals in their lives. These people are the most severely affected by corona. Because many people are trapped in slums and hoarse, unable to isolate from society, their lives are seriously threatened and they need immediate reinforcements.

How should leaders respond?
People cannot control the virus and the speed slows down. But one can control their reactions to these situations, their emotions and decisions.

Every crisis is a test of character and leadership, and an opportunity to discover, learn and show distinctive characteristics.

Look for the core strength: One person’s business can usually provide so many products or services. But during the crisis, people should find the main source of income for their business and focus on maintaining its vitality.
Focus on liquidity: The health of an enterprise should receive the greatest attention. Only when the company is running can it take care of its employees.
Reduce debt: When the tide rises, it is wise to stay on the ground instead of swimming to a better place. Cut all unnecessary expenses, which may include downsizing to protect the health of the company.

Strategy: It is easy to be taken away and make rash decisions. Clear plans and goals will help you stay ahead.
Follow instinct: In the current situation, there are too many predictions and expert opinions.
However, you should not follow any suggestions blindly. Instead, they must trust their instincts and focus on consumer confidence signals.

Don’t please: Challenging times require challenging decisions. Take the difficult call and grab the horns.
Communication: Continuous communication with employees, board members and partners. Make them feel safe. After all, only an enthusiastic and united team can weather this storm.

Reward: Enterprise is not an appendix of society, but an indispensable part. Therefore, give back to society. Help as many people as possible.
The inevitable change:
Every crisis in my life will stay, there are many courses and new ways of life. The current economic crisis is no different.

Technology, work transformation and work style changes are the three major trends brought about by COVID 19.

In the past, people generally did not want to use technology. This situation proves that technology is an important part of our existence.

It brings the distance between relatives closer and closer, enables our work and life to continue, and becomes a source of entertainment. It almost satisfies everything that people want in their lives.

According to the findings of the McKinsey Global Institute, digitization will create 600 to 650,000 new jobs[I] and transfer 40 to 45 million workers from their current jobs.

As soon as possible, the daily and single-skill roles will be replaced with expert, insight and interdisciplinary roles. The skills I like creativity, empathy and collaboration, as well as the demand for data scientists and systems thinking talents, will be even more compelling.

Jobs will soon become more interdependent, more collaborative, more agile and more flexible.

One can observe the following changes in working style:

Working from Home: With the successful promotion of locked apps and working from home, people are now questioning the need for travel. Soon, working from home will become the new norm.

Performance: The team will soon be composed of permanent, temporary, freelance and robotic employees.

Soon there will be a huge demand better than social skills to keep virtual teams cohesive.

Agile: Team composition will become more flexible. The composition will vary based on the current stage of the project, current skill requirements and the value of the project.

Therefore, the above results in a flexible working policy in which people can choose their working hours.

Self-created team: Soon, members can join their passionate projects. The team will be self-created, not planned by the leader. Goal-oriented, not power-driven.

Therefore, leaders need to lead by influence rather than authority.

The importance of marketing:
The coronavirus may change the work environment, job types and many occupations. But, just like leadership, creativity and insightful thinking, not everything will change.

Eternal marketing skills-building and nurturing relationships with customers is always eternal.

Every company should focus on marketing for the following reasons:

Participation: Through marketing, the company is more than just information. Instead, they become part of people’s lives. Modern consumers regard the brand as a symbol of quality, trust and self.

Therefore, through effective marketing, the company can maintain a lasting relationship with its customers.

Reputational growth: As brands continue to meet consumer expectations, their reputation continues to improve. Business has become an important contributor to society. The company should help as much as possible.

As people spend more time at home, due to social distance and lock-in, they spend more time on OTT media services for entertainment, social media for connecting with external friends, and e-commerce for shopping . Now, the perfect and only way to market a brand is digital marketing.

The importance of digital marketing:

There is no better advocate for the potential of digitalization than the current crisis itself.

Every company should focus on digital marketing for the following reasons:

Internet users: India has 46.2 billion users and is the second largest online market in the world.

Smartphone users: There are currently nearly 40 billion smartphones sold, and it is safe to say that there are many smartphone users in India.

Social media: Due to the blockade, social media has become the platform of choice for news, entertainment and communication.

Read about how to market with influencers.

Higher return on investment With specific target audiences, higher penetration and the ability to analyze each step, digital marketing can significantly increase return on investment. In addition, it is well known that the revenue generated by digital marketing is 2.8 times that of traditional methods.

In addition, during the current worrying period, the events organized by the company will also generate more potential customers. For example, Dettol’s “#HandWashingChallenge” on TikTok brought about 1.8 billion views and 1,23,000 participations.

Budget-friendly: Most digital marketing services are cheaper than traditional methods because it does not include material costs, printing costs or distribution costs. In the case of a small budget, this will help save money.

Marketing strategy:
Due to the hidden danger of lock-in, most of the business has been closed at present, and people may think that marketing is no longer needed. On the contrary, the current situation provides a market structure in which there is a minimum number of participants. Therefore, according to the current financial situation of the organization, it is necessary to strive for as much market share as possible.

Organizations can use the following marketing strategies:

Focus on consumer needs:
As most people stay at home for a long time, they may get bored.

Therefore, if a brand continues to communicate with them, entertain them and keep them informed, this relationship will continue to exist even after the pandemic.

For example, even though all theaters are currently closed, BookMyShow still maintains close contact with customers through various movie promotions on its website.

Focus on customer experience:
In a stressful situation like now, companies should go beyond selling their own brands and help customers through compassion. Show that you care. Tell them that this means more to you, and their health is your top priority.

The above actions will not only build loyal customers, but also make the brand stand out.

For example, in addition to communicating information and preventive measures related to COVID-19, redBus sends a lot of positive and fascinating content to its customers every day.

Get numbers:
Obviously, the only and most effective way to build brand awareness right now is to focus on Digital Medium. Companies without digital business should do this; on the contrary, companies with digital influence should expand their influence. Learn more about the foolproof strategy of digital marketing business.

Moreover, the current situation is not only doom and depression. It has caused many companies to flourish in new opportunities. Especially Zoom, since the early 50s, its stock price has risen by 2020%. According to Gartner’s research, once GenZ finally joins the labor market, the demand for remote work will increase by 2030% by 30 years.

The following strategies can be used to increase its digital influence:

1. Social media marketing
During the crisis, companies should aim to spread brand awareness, cultivate followers and increase engagement.

Let us consider an example of Bharat Flooring:

A relatively little-known company that produces custom floor tiles, Bharat Flooring, has recently introduced an ingenious way to attract consumers and spread awareness.

The company launched an online Instagram tile design competition.

The company took advantage of people’s free time quarantined at home and inspired several art lovers to devote their time and energy to tile design.

At the end of the competition, the company was able to achieve brand awareness among art followers, attracting potential consumers for 10 days; in creating a positive impression among the audience. Read how to influence online marketing on Instagram.

2. Search Engine Marketing
These are the pages you can find in search results search engines. The ads here pop up based on user searches.

Many Indians are now spending more time online, working with their loved ones, interacting with their loved ones, learning new skills or just mastering the coronavirus trend. Therefore, create a perfect platform to promote your company to win new customers.

3. Search Engine Optimization
As consumers now spend more time online, it is important for companies to make them visible.

Moreover, under the current circumstances, if a person happens to be away from home, it is likely to be used for goods or services. Therefore, if companies can make their SEO more localized to attract “near me” searches, they can acquire loyal customers near where the company is located.

4. Email Marketing
Email marketing can be useful in building relationships in a crisis. An example worth mentioning is Zomato, who regularly send emails during the lock-up period to ask about customer benefits and promise to provide services with the same high quality and price after the lock-up ends.

5. Pay per click
Through online media to obtain more views than ever, pay-per-click advertising can bring brand awareness and huge traffic to the company.

The most attractive feature of pay-per-click advertising is that it is now much cheaper. In other words, the cost per click has fallen by 6% recently, and research estimates that it will fall further in the coming weeks.

6. Affiliate Marketing
One attractive form of marketing widely witnessed in e-commerce sites (such as Amazon and Flipkart) is affiliate marketing.

People with a large number of online followers use links in their online space to redirect audiences to affiliate sites. Each time the viewer clicks on the link and purchases the product in turn, it delegates to a specific influencer.

After a crisis, it is best to use affiliate marketing. As the e-commerce site itself will focus on recovery.

7. Influencer marketing
Over the years, Indian audiences have become accustomed to associating brands with well-known faces: some famous examples are Gabbar Singh’s Britania, Sachin’s Boost, Salman Khan’s Revital and Katrina Kaif’s Slice.

Therefore, in the current situation, you can see various companies using this popular technology to generate health awareness, spread the news and promote their products.

For example, Dyson India partnered with Shruti Sheth to promote Janata Curfew. In the video posted below, Shruthi urged the use of Dyson’s vacuum cleaner to maintain the importance of self-isolation and hygiene.

Marketing presentation, digital marketing, what is digital marketing, marketing 101, instagram marketing, marketing, how to advertise for your business, instagram advertising, small business marketing strategy, marketing strategy, marketing channels, marketing analysis, coronavirus , Marketing during Coronavirus, Coronavirus Business Strategy, Coronavirus Marketing Strategy, Business During Coronavirus
Regardless of the economic downturn, the path to normalization depends on many of the many socio-economic factors, and it will definitely take time. As they said, prepare for the worst and hope for the best. At this difficult time, we must stand together. Stay home and stay safe. And donate to PM Relief Fund. If you like the commented video, share it with your friends.

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