Embracing the New Digital Economy

While there are still many unknowns about what life and work will look like in a post-pandemic world, there is one thing that is certain: our reliance on technology—for professional, personal, and educational communications—has never been greater.

We have learned that even in times of crisis, our clients still have important messaging to get out. They still have a need to promote, still have a need to engage, still have the need to get organizational support. None of that goes away and as technology advances and brands embrace the new Digital Economy, those who adapt and innovate will come out on top.

Our team produced a virtual event for the Greater Houston Partnership‘s State of Houston’s Global Economy. The event featured former U.S. Secretary of Commerce Carlos Gutierrez, who did an incredibly interesting interview diving into the impact the pandemic has had on the global economy.

To quote Gutierrez, “One of the things we’ve seen in this crisis is the advent of technology. The digital economy will change technology and how we work….this crisis has really made it a step change. We have now seen the arrival of that new digital economy at scale.”

We have already seen this take hold through the rise of virtual events. Nonprofits and organizations have found that through an engaging virtual medium, they are actually able to reach an even larger audience and raise significant funds through these events without the overhead required if it were in-person. Additionally, the recordings of these virtual events allow for even further reach, sharing the experience long after the initial airing date.

There are instances of technology making its way into society in big ways that we have never seen before, and with the capabilities of virtual, the possibilities for contactless business communications, e-commerce, and training are endless.

For business professionals, this means a few things:

– Your company must be able to pivot: In this digital age, leveraging technology to find solutions for in-person business will absolutely improve your viability. As a partner to our clients, we quickly pivoted at the start of the crisis and encouraged our clients to reimagine their in-person events as immersive virtual experiences.

– You must be willing to retrain: Technology is only going to continue to improve and accelerate as a result of the pandemic, and the general education and training systems that we have will need to change.

The Coronavirus pandemic has altered the digital landscape forever, and many of the virtual habitats and consumer preferences will continue long after we’re done social distancing. While we can’t predict what the post-pandemic world will look like, we believe staying ahead of the Digital Economy’s curve and ensuring that your business is ready to operate digitally if needed will be crucial to long-term success.