Having the agility to keep up with the deep transformations imposed by COVID-19 is one of the greatest challenges faced by brands today. A recent McKinsey study points out a series of strategies to make organizations faster, adopting practices, processes and services aligned to society’s new demands and behaviors. We have chosen five key insights to survive unpredictability and prepare for the mysterious "new normal."
1. Simplify decision making
The consulting firm highlights the importance of reducing the number of meetings and professionals involved in each one, and the need to be more objective. Many organizations are also fragmenting their planning and making decisions focused on the short and medium term to ensure more flexibility.
2. Make partnerships
The report highlights how organizations have intensified and diversified their partnerships. This is key to deal with the rapid pace of change and disruptions in the relationship between brands and people. In many cases, it is impossible to keep up with the innovation of technologies and consumer journeys without establishing new networks and connections.
3. Work with smaller groups
Organize your team into several small transdisciplinary teams that have specific objectives and are monitored and evaluated regularly. This helps companies react faster and more assertively, resulting in less bureaucracy, better communication and more agile decisions.
4. (Re)learn to learn
The last months have challenged many managers to learn to lead in times of crisis, to quickly form agile teams, to make decisions at a much greater speed, and to adapt to constant and intense social changes. The most successful organizations are those that invest continuously and consistently in innovation and in training their professionals.
5. Rethink the role of leaders
The companies that have been facing the pandemic best are those in which the CEOs have invested in the motivation and empowerment of their teams, in communication and transparency, and in the engagement around the organization's purposes. The study highlights that: "The future requires leaders to act as visionaries instead of commanders—focused on inspiring their organizations with a clear vision of the future, and then empowering others to realize the vision.”
Digital transformation speeds up processes
A phenomenon that has contributed significantly to the agility of organizations is the transformation of media platforms into ecosystems, with the offer of several integrated solutions. This helps to keep up with changes in the consumer journey, understand new channels, languages and metrics, and to ensure greater efficiency – optimizing marketing and media strategies and investments. Verizon Media provides its customers with open ecosystems, comprised of different data partners, measurement companies, branded content solutions and access to various media formats, such as DOOH, CTV, programmatic audio, game console, desktop and mobile.