As the COVID-19 pandemic continues to ravage the globe, multinational companies and SMEs in Malaysia are moving quickly to keep business moving during the Movement Control Order (MCO) period. Most are already pivoting to digitalise their business, an uncharted territory for some.
With time, money, and brand loyalty at stake, now is not the time to say, “My gut feeling tells me this would work.” Decisions based on gut-feeling can change the way people perceive your brand — and not for the better. Explore these three tips.
1. Don’t: Ignore what could hurt your bottom line
A negative headline about your brand just hit the virtual newsstands? A scathing review about your product circulating the blogsphere? You may not see these until the inevitable damage to your brand reputation is substantial—and by then, recovering your trust and credibility could prove an uphill battle.
You can no longer get by with decision-making processes that are based on limited visibility. You need clarity into your operations to make the right call at the right time, or risk losing customer loyalty. With real-time data intelligence (and not your gut feeling), you get to analyse your brand mentions, sentiment and map out your reputation risks—even before they occur or escalate to a full-blown crisis.
Do: Make informed decisions based on full visibility of the situation will help to win the trust of your stakeholders.
2. Don’t: Underestimate the importance of understanding your stakeholders
How do you know if your communication efforts are effective? A new study revealed that CEOs are seen as the most credible sources of information but not enough of them are using their voice. It is critical for you not to ‘go dark’ in a crisis especially to your stakeholders.
Without data, how do you know the best ways to reach your customers online without breaking the bank? While taking your business online, it is crucial to get an accurate sense of the marketplace and make informed decisions to reach your customers.
Do: Remember, data intelligence is key to understanding the perception of your stakeholders and the current market.
3. Don’t: Let complexity control you
In a recent webinar by Malaysia Digital Economy Corporation (MDEC), majority of SMEs in Malaysia revealed that they are looking to rapidly boost their digital marketing spend. With the vast number of digital channels and services available, it can be daunting to navigate uncharted waters — and this is where understanding your digital brand presence will help you make informed decisions.
From our experience, we see that agile businesses in Southeast Asia have a clear advantage over their competition, able to maintain high service levels while keeping costs low.
Do: Understand that the key to agility is to have the right information at your fingertips and adjust your operations where necessary.
Data-driven decisions endangers trust, builds credibility
Digitalisation is already changing the game in many industries. The more opportunities it presents, the more complex it gets over time. But we’re smart. We’re adaptable. We are driven to learn, change, measure and improve.
Resilient brands that have withstood the tests of time are often armed with explicit understanding of data to make informed decisions and meet the expectations of their stakeholders. And you can join their ranks by doing the same. Sign up for a FREE digital intelligence consultation with us today and walk away with a complimentary report of your brand’s digital presence.