COVID-19 forced a dramatic change to customer behavior that resulted in an economic crisis not witnessed by anyone alive. Businesses can no longer operate as before because their customers are no longer operating as before. This book provides customer-centric based guidance for how businesses should adapt to this new reality, deriving insights from academic research, case studies, interviews, and best practice examples from around the world. As validated by hundreds of top-level executives, its readers will gain a better understanding of why customer behavior has changed so they can use the book’s solutions to navigate through and succeed in the post COVID-19 future.
Author(s): Ofer Mintz
Publisher: Palgrave Macmillan
Year: 2022
Language: English
Pages: 233
City: Cham
Acknowledgments
Abstract
Contents
List of Figures
List of Images
Chapter 1: Introduction
References
Chapter 2: Section One Introduction: How and Why the COVID-19 Economic Crisis Occurred? A Customer Behavior-based Perspective
References
Chapter 3: Five Phases for How Customer Behavior Changed in Response to COVID-19
Phase One: Panic!
Phase Two: Adjustment to Lockdown
Phase Three: The Re-opening
Phase Four: Persistence
Phase Five: New Normal
Summary
References
Chapter 4: Psychological and Economic Explanations for Why the COVID-19 Economic Crisis Occurred
Psychological Explanation
Economic Explanation
Summary and the Path Forward
References
Chapter 5: Section Two Introduction: Customer-centric Growth Strategies
Reference
Chapter 6: An Opportunity Unlike Ever Before
Why Your Business Needs to Employ a Customer-centric Strategy
Customer-centric Growth Strategies: An Overview
References
Chapter 7: First Quadrant: Status Quo Growth Strategy (It’s Obsolete)
Summary
Reference
Chapter 8: Second Quadrant: New Customer Markets
Customer-centric Growth Strategies to Expand Current Customer Markets
Customer-centric Growth Strategies to Shift to New Customer Markets
Summary
References
Chapter 9: Third Quadrant: New Products
Customer-centric New Product Strategies for Businesses to Sustain in the Short Term
Customer-centric New Product Strategies for Businesses to Create Sustained Advantages in the Long Term
Summary
References
Chapter 10: Fourth Quadrant: Diversify Simultaneously into New Markets with New or Modified Products
Opportunity-Forced Customer-centric Growth Strategies
Opportunity-Sensing Customer-centric Strategies
Opportunity-Collaboration Customer-centric Growth Strategies
Summary
References
Chapter 11: Section Three Introduction: The COUNTER COVID Customer-centric Framework Your Firm Needs to Employ NOW
Reference
Chapter 12: Create Emotional Connections to CREATES Loyalty
Connections
Reassurance
Training
Ensure Safety
Summary
References
Chapter 13: Demonstrate Product Value
Offer Financial Value
Induce Trial
Employ Payment Options
Introduce Product Versioning
Summary
References
Chapter 14: Extend Digital Footprint
Simplify the Digital Experience
Engage in Meaningful Digital Relationships
Proactively Go to Customers via Digital Marketing
Summary
References
Chapter 15: Conclusion
The Starting Point: Understanding Your Customers
The Big-Picture: Growth Strategies to Take Advantage of an Opportunity Unlike Ever Before
The Everyday: The COUNTER COVID Framework to Guide your Customer Interactions
Final Words
Index
