Midsize businesses are known for understanding what customers want and meeting them where they are – in good and bad times. But what happens when a major event creates a wave of significant change that upends every aspect of our social infrastructure?
For midsize businesses, this is the perfect time to reconsider the effectiveness of their services and redesign them around customer needs – no matter how they change.Today, customers are on the verge of a new trend: the isolation economy. Now more than ever, people are forced to travel less to complete everyday activities, from going to work and sending children to school to shopping at the local grocery store.
At some point, customers will one day resume traveling, going to the movies, participating in sports events and concerts, and even visiting their favorite stores. However, midsize companies must remember that such activities will not happen at the same rate and intensity as before. Another approach is the ability to provide an experience that complements a growing do-it-yourself movement. No more than ever, customers are engaging in the world of DYI to occupy time their time being sheltered-in at home. The new trend is ripe for new spaces, services, and products that support doing things for oneself – such as events, classes, and educational resources.