Over the past five months, companies had experienced an unexpected pause on almost all of the crucial business activities. It is quite clear now that the current conditions are not changing anytime sooner.
As the economies are slowly emerging from the initial impact of pandemic, businesses have had to work hard to protect their employees, address business challenges, risks, manage the demand-supply gap, ultimately, survive.
The Great Reset
New ways to conduct businesses are emerging
Many companies sensed that their current business models are not going to be viable in the future. Despite the fact that none of us have a guide to steer the business out of this mess, there are some strategies that experts world-wide have been evangelizing –
1. Diversification
Diversification of supply chain management, resource and talent management: In March 2011, Great Tohoku earthquake and tsunami was the most powerful natural disaster of Japan’s modern history. The disaster affected number of manufacturing companies located in the area, including plants assembling automotive parts for major automotive companies resulting in losses, automotive parts shortage, and supply chain disruption.
This is a classic example that businesses can learn from and diversify their supply chain management, and overall resource and talent management strategies to crisis-proof their business. Diversification can help enhance the resilience for businesses.
2. Re-skilling and up-skilling of company employees
Post-pandemic stakeholders will have to adapt to the changed ecosystem by reimagining the business model, and reinventing business operations. At such a time, helping the employees adapt their capabilities to the changed times will be one of the crucial strategies to build resilient businesses.
These strategies will not only strengthen the employees and help them adapt better. But also, create a sense of balance in the talent demand and supply gap.
3. Digital Transformation
In this gloomy year, technology companies have progressed due to the trend of working from home, especially the cloud business. Many companies world-wide sensed that automation of operations, processes will help their businesses influence the bottom line and succeed in the future.
Yet some of the businesses have been taking a stand on digital transformation, explained aptly in the following illustration –
Post-COVID businesses have started embracing the digital transformation wave. The stakeholders are deploying the strategies in a much more methodical manner. Insurance companies, supply chain management and healthcare, of course to name a few have been some of the industries to lead the front.
Businesses need to more-than-just-survive
As critical as it is, to embrace digital transformation now more than ever. Above mentioned strategic directions among many others will help businesses back on their feet. It will be crucial to support the customers and their customers in these unprecedented times. Help them with resolving the challenges that have risen due to the pandemic.
Serious UX can help out businesses to thrive!
Let us take a look at the benefits serious UX can bring to one’s business in these times –
1. Serious UX can help businesses deliver relevant solutions
To maintain business continuity, staying relevant with the customers’ unique challenges is of paramount importance. It is crucial to ask the right questions in order to do that. What are the changes our customers are facing? What are some of the unique ways in which a business can address those by providing a product/ service that fits the brief?
The change in customers’ lives can and has affected their psyche. Their spending habits, behavior patterns have changed, adapted to the new norms. The customers’ behaviour has changed in terms of their buying decisions. These changes directly affect the sale of products.
Knowing, and identifying the changes with the right data can help the businesses to built the new strategies. Serious UX can help products change their trajectory to better suit this current behaviour and demands of the customer. It is more about adapting to customer requirements, not changing.
2. Serious UX can help businesses make up for the lost time
Whether it is a B2C, B2B, B2B2C, or an enterprise level product, almost all of the businesses have faced tepid growth in the past 5-6 months. There is a considerate amount of time and money lost.
Serious UX with its data-driven approach can help your business make sense. It can bring balance between delivering faster and accurate solutions to the customers. An implementation of lean UX methodology utilizing a build-measure-learn loop. This will help businesses deliver products providing value for customers and validating the learnings for future interactions.
Whether you are in the middle of a digital transformation journey or software product revamp, user experience is key to your products’ success. The UCD methodology will ensure to deliver products that pass all the criteria of standardized user experience. This will help you de-risk the products and help businesses plan for recovery from the lost time, profits and customers.
3. Serious UX can help businesses deliver the products/ services at a lesser cost
As the world continues to witness the global crisis, opportunity identification and expert advice are critical today, more than ever. While drawing up the strategies to generate more business and thrive, it is also crucial to understand the impact pandemic has had on the economy and the lives of the customers.
Businesses may have to deliver products/ services at a lesser cost, due to the decrease in the customers’ spending capacity. Serious UX can help businesses connect with their customers during this transformation.
Serious UX can help reduce overall costs of wrong product definition due to a mismatch with the user expectations. The absence of re-work results in reduced development costs, revamped products that are high on usability reduce the support costs. Also reduction in wastage due to efficient workflows, reduction of admin costs due to increased user base benefit the customers.
Essentially serious UX increases revenue through your product design, it reduces cost and/or manages risks. UX helps businesses have a clearer view of the gaps in the product offerings and their customers’ current expectations. With this insightful data businesses can prioritize these gaps keeping the impact in sight.
The business models need to be resilient to ensure that the business is a success even in these harsh times. We know from history, businesses need to respond and act quickly to sustain and thrive in the volatile, ever-evolving markets.
Amplify your brand presence with the best UX design studio that truly aligns your needs with those of your consumers! Get in touch with us at YUJ Designs, today!
