While we all watched the outbreak of COVID-19 impacting economies throughout the world and play havoc, the mobile app economy is another matter, as mobile app session times and installs saw dramatic increases and decreases varying across industries.
Now more than ever, businesses – small, medium and large need facts, data-driven insights, and real-life examples of how brands are adapting to this change in consumer behaviour and how to not be tone-deaf to consumers in their brand communications. New consumption patterns and digitalisation have and will change the rules of the game further. It is time for organisations to look at revamping customer engagement methods.
A global playbook published by MoEngage and AppFollow on how brands can rebuild and essentially bounce back to pre-crisis numbers, sustain or accelerate their growth. Quite recently, a COVID-19 Business Impact Report was launched covering the business impact of the pandemic on 12 industries across five regions, with a vision to offer data-backed quadrant mapping for various industries to understand what growth trajectory they’re on.
This playbook essentially will help businesses:
- Understand how a crisis affects consumer buying behaviour
- Identify how the shift impacted the growth trajectory
- Analyse how they’re affected by taking an extensive path assessment
- Leverage ready-to-implement customer engagement frameworks to drive optimal growth
- Emulate strategies that have worked for leading global brands
To understand the App Economy better, industry experts and leaders from 50+ leading global brands have provided their insights on how businesses might fare with lockdown relaxation on rebuilding their strategies to drive growth.
A Path Assessment Checklist which consists of a few questions that will help a business map the right path – Engagement Frameworks providing brands three paths:
- Growth Sustaining – verticals observing unprecedented growth during crisis, viz. Entertainment
- Bounce-back – verticals observing unexpected growth viz. Travel & Hospitality
- Growth Accelerating – verticals with neither surge in growth nor heavy decline viz. BFSI