Recalibrating Your Business Model During an Economic Recession

The current business cycle is unique, making it difficult for executives and consumers to navigate. While classic indicators point to a recession, business performance is resilient, and executives generally are cautiously confident about a favorable future.

In sharp contrast, consumers have a grim perspective and historically low sentiment. Their shifting behavior suggests they’re buying fewer goods—but many seem willing to pay for experiences.

In short, it’s a highly volatile and uncertain business environment out there. Some companies might think it’s time to step back. At Brillio, we say it’s time to recalibrate and ACE it.

Recalibrate for the New Reality

Digital helped companies remain resilient during the pandemic. A new wave of digital adoption will continue to keep businesses resilient and relevant to their customer base. Even global research firm Forrester promotes the idea that “disruptive forces necessitate bold decisions.” “The old ways of working no longer work. The future is up for grabs. Leading firms will use the crucibles of 2020 and 2021 to forge a path to an agile, creative and resilient tomorrow,” Forrester says.

We already see some emerging business recalibrations happening based on firstquarter and second-quarter earnings transcripts. More disciplined business spending reduced operating expenses, restricted discretionary funding and strategically reallocated capital expense to digital initiatives, and realigned portfolio and engagement with sentiment.

The ACE approach provides the ability to quickly identify initiatives that will mitigate exposure to recessionary forces and create competitive advantage.

ACE at Work

While the outlook remains uncertain, it is important to act now in the areas that matter most and identify the initiatives that will mitigate exposure to recessionary forces, maintain loyal customers and drive deeper market relevance. Equally important identifying, designing, and delivering new initiatives quickly that will have the desired impact in the time needed. Focus on technology partners that are equally agile and have the tenacity to accelerate time-to-market.

We’ll ACE this Market Together

Let Brillio help you identify, design, and deliver new initiatives so your organization can align its offerings with what your customers want most right now while ramping up to deliver on their new expectations tomorrow. We have the business and digital expertise to help your organization succeed in today’s challenging market conditions and beyond.

To learn more, read our full report, “Recalibrate for the New Reality,” or contact us.

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