During the current situation it is essential that the primary focus be directed to crisis mode and crisis control mechanisms with a view to developing comprehensible realistic solutions.
As a second step, however, new opportunities must be evaluated and seized in order to secure basic operations. Ramping up digital initiatives and digitalizing analog business models must be considered here. With the aid of released capacities that can act in a supportive manner, fast implementation can be consequently initiated and realized.
During the first step, the current business model will be analyzed. Based on this analysis, risks and opportunities will be identified and evaluated. Meanwhile, this analysis will also focus on the impact of changed client behavior on the status quo business model. Version 1.0 of the new business model is going to develop from this interplay of changed client behaviors and needs, adjusted value promises made to clients, newly identified client channels and additionally, newly identified potential clients. First considerations already must be included for the time after the crisis as well:
- How is client behavior going to develop?
- Will there be a rollback to client behavior before the crisis?
- Will new client behavior merely regress slightly?
That is aimed at estimating in how sustainable the adjustments to the current business models will have to be implemented. For example; are we to presume that digital tours will replace real city trips in the future, Hopefully they will not, however they can serve as providers of advanced information for interested visitors” meaning that, tourism service providers can utilize them to expand their offers. Or, how “sustainable” will the currently booming “social networking apps” be? It is to be expected that their use will clearly decrease, and people will go out and meet friends and family in person again. However, things can look differently for online services, like, digital medical services. Even before the present situation, a clear increase had been recognizable, and this trend can be presumed to continue when the crisis is over.
But regardless of whether desired adjustments to the current business model or the development of new business models are supposed to address short-term changes in client behavior or whether they are supposed to be integrated into the company portfolio in the long run, fast implementation needs to be made sure of so that the first mover advantage can be put to good use. The fact that with such courses of action, there are no 100 % solutions must be accepted and deemed an opportunity. Due to fast, client-oriented implementation, it will be possible to assess based on early testing methods, like, landing pages or virtual prototyping if the digital business model is doing justice to adjusted client behavior. After going live successfully, marketing measures that are adapted to changed client behavior will be initiated.
A lot of ground needs to be covered quickly under the present circumstances. Aside from leeway which makes it possible to work and make decisions also under conditions of insecurity, four factors are especially crucial for realizing the business models aspired to quickly, in our experience: