CAPTIVE ECONOMY: THE RE-AWAKENINGUnderstanding the Post Covid19 Consumer
The captive economy: the re-awakeningUnderstanding the Post Covid19 Consumer
We have been discussing Disruption for the last 20 years. Most of it has been technologically driven, with some industries (travel agents, print magazines, movie rental stores) disrupted to the point of non-existence. Disruption brings change, and only the fittest survive.
The pandemic and arising Captive Economy brought us one of the biggest non-technical disruptions of our generation. Social and behavioural norms have been reshaped, meaning that consumer, and indeed societal values, are shifting. It is a foolish business that does not prepare for change when values start to shift. We need to find new ways to communicate, new ways to pivot, new ways to stay relevant.
What does our post Covid-19 consumer now value? How can we deliver on these values post sheltering/lock-down, and what do consumers want from ‘business as usual’? Will there ever be an ‘as usual’ again? What will the next 6 weeks, 6 months and 2 years look like and what do we need to do now to prepare, survive and thrive?
In this speech, we explore the new values of the Captive Economy consumer and how these values have changed what they expect from brands and business as a whole. This is a revaluation of consumer values, and learning how to best leverage these new values for your business success.
Understanding the psychology of captivity taught us about consumer expectations during the sheltering, and how the new values of Health, Collaboration, Community, Freedom and Digital First needed to be inherent aspects of what your business delivers now and over the next 12 months.
Emerging into a new post-Covid economy, the re-awakening, isn’t just about re-opening businesses. It is a reawakening of what consumers expect from the brands they do business with.
When hard times are over, businesses that invested in relationships always win. This isn’t about getting through another month or two – this is about digging the strongest foundation you will ever have for brand advocacy and loyalty into the future.
In every crisis and change there is significant opportunity. Don’t be the victim of change, be the victor.
3 key learnings from this talk
Be proactive in terms of empathy and learn to ‘sell’ without selling. This is not the time to lead with a commercial message.
Learn to embed the new values within your product/service proposition and reflect them back to consumers within your communications.
How to weave agility into your consumer proposition to ensure you not only stay relevant but continue to resonate with what consumers want, as that shifts.
What a great webinar, really like that term The Captive Economy and the need for Freedom.
Really insightful. Really sums up the current environment perfectly
Loved the webinar today. Genius.
I’ve never stayed on a webinar for 90 minutes before – that was so engaging. Where did the time go?
Very well captured . These are indeed the values of the new normal.
There are few speakers who can translate their energy, stage presence and inspiration that they have on live stage into a digital platform. Ken is one of them. His humour, visuals and engagement are as strong on webinar as they are live. There was no question about his invite to keynote the EXMA Be On event broadcast to over 100,000 attendees. He was amazing
As a B2B brand we needed to stay relevant and connected with our customers during this time. Ken was the first person we thought about approaching and the webinar series he delivered has had such strong feedback. Sessions sold out way beyond our expectations and delegates stayed engaged far longer than we had ever hoped. It was entertaining, informative, and had all the usual magic and sparkle that Ken delivers onstage