This Entrepreneur Believes There Is No Going Back After The Pandemic

Jesse Willms shares his insight on the effects of the global pandemic and why we may never experience a “return to normal.”

Not only has Covid-19 completely changed the way we interact with each other on a social level, but it has also influenced the way we do business and trade with each other too. So much so that companies all over the world have been forced to completely revamp their business practices to meet shifting consumer demands.

For most businesses, this meant surrendering to the massive social and economic pressure to digitally transform their services in order to get up to speed with the “new normal.” What was once considered optional has now been inadvertently mandated, as operating digitally was the only way to stay open for many businesses. In other words, it’s either go digital or shut up shop.

With that said, digital marketing expert and serial entrepreneur Jesse Willms believes the mass digitization we have witnessed in response to the global pandemic is here to stay. If there were any lingering doubts over the necessity of digital transformation to business longevity, the coronavirus has well and truly silenced them.

Reluctance to go digital

Even though digital transformation is expected to add $100 trillion to the world economy by 2025, many industries were still somewhat reluctant to adapt to the new paradigm shift. However, Covid has served as a stark reality check, especially for those businesses operating in the worst affected industries:

“For the most part, companies fell into one of two categories. Some were overwhelmed with orders (think pharmacies, gorgeous, pet supplies, work-at-home stationery, and other household goods). And then, of course, you had the not so fortunate (luxury, travel, hospitality, entertainment, and so on). However, no matter the industry, if businesses failed to change with the times and shift to online engagements, they were very likely to lose out to their competitors,” explains Willms.

To make matters worse, the companies that didn’t put plans in place to go digital before the pandemic were hit the hardest. They found themselves woefully unprepared for what was to come and were left scrambling to digitize their operations and move their workforce to a remote working environment.

As you might expect, this is not exactly the easiest of transitions to make amidst the incredibly uncertain economic outlook. And when you find out that 70% of digital transformations fail due to employee resistance, a global pandemic may not prove to be the most optimal time to implement such a strategy.

Fortune favors the prepared

For the most part, businesses that had already digitized their business operations were in better shape when the pandemic came around. For them, it was simply a matter of reverting to their already established digital strategies, which meant they were in a great position to outmaneuver their less prepared competitors and gain a competitive advantage while doing so.

“With the business landscape continually evolving, there are a few things I do to try and stay ahead of the curve. Firstly, as a fully digital company, we are very flexible. We can internalize and adapt to changes quickly, which gives us an advantage over more rigid business models - especially during a global pandemic. By maximizing on new opportunities, we avoid getting stuck in our old ways’ and losing market share,” explains Willms.

Pandora’s box has been opened

The thing is, now that companies have been forced to embrace new digital strategies, many of them will likely keep them in place once the pandemic is all said and done. The organizations that managed to navigate these tough times will all come out more resilient, efficient, and productive than ever before, as Willms explains:

“Businesses that were hesitant to digitize have been forced to take the plunge out of pure necessity. And with the ruthless nature of the business world, I expect those who adapt effectively will start to gain a considerable market share over their competitors. If businesses find success with their newfound digital marketing strategies, why would they go back?”

Final thoughts

On average, digitally mature companies are 23% more profitable than their less mature peers, showing the effectiveness of implementing solid digital marketing strategies throughout these times. However, Willms importantly highlights the opportunities presented during the current pandemic and how companies should adjust their priorities to benefit in the long run:

“The COVID-19 crisis has created a hyper-awareness among consumers of businesses that authentically want to help them and make their lives better, and businesses that are only interested in making as much money as possible,” says Willms.

“Businesses that authentically demonstrate empathy and caring at this time are making an investment that will pay dividends for many years to come, while businesses that are only in it for themselves will find out soon enough that scorned customers have very long memories, and they also do not hesitate to share their unhappy stories online and offline with anyone who will listen.”

Make sure to follow Jesse Willms on his website, Twitter, Facebook, Instagram, and Linkedin.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes