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Coronavirus – Transforming business forever

Coronavirus Picture 1The aftermath of the Covid-19 crisis will transform the way we live, work and travel in the UK, the AA says.

If commuters spend just one day a week working from home after the crisis the roads will be as empty as they are in the school holidays.

Coronavirus will transform UK work and travel, says AA

I have four sales meetings booked today with prospects. On a pre-Covid day I might be able to organise three meetings but on most days two at best because of the demands of travelling.

What's more, those four meetings will need meeting notes and follow-up actions all of which I'll be able to do in a single day which would have taken me off the road for a further day each week.

It's amazing how productive I am meeting by video.

Will this signal the end of meeting face-to-face after the lockdown?

I'm sure some of my meetings, especially those where there are a number of attendees from the same firm, will still be face-to-face but I know I will be having more video meetings in the future than I did before.

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Whilst Coronavirus is potentially catastrophic for business in general with some forecasts suggesting a 25% drop in GDP across Europe.

Coronavirus forecast to cut UK economic output by 15%

Coronavirus Picture 2Events of such unprecedented parallel can result in widespread and long-term behaviour change.

Firms can play enhanced roles in people’s lives during a time where shifted context means people are having to change their behaviour to stay healthy.

Firms that learnt to dance in the rain of the last economic crisis built long-term value through the way they treated their customers and how well they communicated their message.

Corona Virus and Behaviour Change

Your clients are learning new ways to communicate with their family and friends. I doubt many of your clients will remain unconnected by technology during this lockdown.

In a recent article I discussed how this is a golden opportunity to communicate clearly, sensibly and in a reassuring way to clients in these troubled times, using the example of the MIFID 10% drop notice.

Is it worth putting your staff’s lives at risk?

Sending your communications digitally gives you the opportunity to accompany the reporting with educational content, particularly videos which can portray your empathy and stewardship in the current environment.

Coronavirus Picture 3Use this time to change the way you communicate to your clients making your communications clear and secure and monitor that your clients are reading them.  Follow up with personal calls and video meetings where the message is not getting through.

A change for the better.

Your clients are adapting to new technology and it is unlikely that clients will want to go back to the way things were. Email and post are simply not an inefficient way of working.

There has never been a better time to make long-lasting efficiency gains for your business.

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We can show you how you can change the way you communicate to deliver a better client experience. We can do this with your staff working remotely and have you up and running securely communicating with your clients in a matter of days.

Alternatively, you can just wait for the storm to pass and things to get back to the way things were. Assuming your clients will want to go back …

Sim Sangha

Business Development Director

moneyinfo limited

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03303 600 300