Consumers changed their behaviour rapidly during the pandemic and, although consumption levels will normalise, it is unlikely they will revert en masse to their previous behaviours. Some service providers responded with agility, but they need to apply the lessons learned across three key areas:
- Actively accelerate transformation plans to remodel and reforecast for the future, with emphasis on behavioural groups and personas, rather than traditional demographic modelling
- Rapidly repurpose the organisation for a different future, by investing in key talents, technologies and opportunities – not just appending the new normal to existing business models
- Understand and implement new content models based on the success of specific genres in consumers’ perception of value, not just on what’s been successful because of the crisis
For details of each, please refer to the detailed EY report (PDF, 433KB).