# Can Covid-19 provide opportunities to change stakeholder relationships for good? Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2020-10-12 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: 4 Ways Covid-19 Will Transform Stakeholder Relationships Meta Description: Discover the lasting implications of the coronavirus crisis on stakeholder relationships and how businesses can adapt and connect with audiences in new ways. URL: https://financedigest.com/can-covid-19-provide-opportunities-to-change-stakeholder-relationships-for-goodhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/untitled-design-2020-10-12t113903-1736838811507-compressed.jpg) _By **Paul Williams,** Head of Production and Planning, Speak Media_ When the coronavirus crisis hit the UK in March, businesses faced the immediate challenge of making sure that their content output was relevant to a strange and unsettling new landscape. But, even as lockdown eases, could there be lasting implications for how companies communicate with their stakeholders? In a recent survey created by Speak Media and the Public Relations and Communications Association (PRCA), 93% of respondents said that the [post-Covid world](https://www.financedigest.com/financial-tech-what-will-stick-in-a-post-covid-world.html "Financial tech: what will stick in a post-COVID world?") was likely to bring new opportunities for businesses to connect with their audiences – and pointed to a range of ways in which their relationships could change for good. Here are four ways in which your relationships with stakeholders could evolve. 1. **Adapting to the [needs of your customer](https://www.financedigest.com/why-banks-need-to-embrace-ai-first-customer-service.html "Why Banks Need to Embrace AI-First Customer Service") base** The [‘new normal’](https://www.financedigest.com/how-banks-can-triumph-in-the-new-normal.html "HOW BANKS CAN TRIUMPH IN THE ‘NEW NORMAL’") might be starting to feel more, well, normal – but that doesn’t mean your brand should revert to a pre-Covid content comfort zone. Nearly 80% of the comms leaders who took part in our survey said that organisations have an opportunity to become more relevant by adapting to the [shifting needs](https://www.financedigest.com/why-businesses-need-to-shift-their-e-invoicing-approach-from-local-and-tactical-to-scalable-and-strategic.html "Why businesses need to shift their e-invoicing approach – from local and tactical to scalable and strategic") of their customer base. It is likely that the [challenges and anxieties facing](https://www.financedigest.com/how-to-overcome-the-challenges-faced-by-women-in-business-4.html "How to overcome the challenges faced by women in business") your stakeholders have changed significantly, so don’t assume customer interests are the same as they were before the pandemic. Do your research, communicate with your audience and look at key [analytics data](https://www.financedigest.com/the-importance-of-data-analytics-for-success.html "The Importance of Data Analytics For Success ") to identify areas you can provide real value to your readership – then focus your content efforts on them. For example, sports brand Nike garnered positive attention for its ‘Play Inside’ [marketing message](https://www.financedigest.com/premium-a2p-and-p2a-messaging-market-surpass-revenues-worth-us-75-bn-in-2029.html "Premium A2P and P2A Messaging Market surpass revenues worth US$ 75 Bn in 2029") – which not only encouraged its community to stay indoors at the height of the pandemic, but also gave them the tools they needed to workout at home. Meanwhile, in the financial [services sector](https://www.financedigest.com/protecting-the-uk-financial-services-sector-from-cyberattacks-now-and-in-2023.html "Protecting the UK financial services sector from cyberattacks now and in 2023"), Barclays has offered customers and clients who are facing coronavirus-related challenges access to insights from senior colleagues through its main digital hub, home.barclays. 2. **Creating meaningful connections** Close to 70% of our respondents cited [creating “deeper and more meaningful connections with different stakeholder groups” as an important opportunity](https://www.financedigest.com/tire-materials-market-to-create-an-incremental-opportunity-of-us-99-99-bn-by-the-end-of-2028-fmi.html "Tire Materials Market to create an incremental opportunity of US$ 99.99 Bn by the end of 2028 – FMI") for brands. The [last few months](https://www.financedigest.com/monkeypox-emergency-could-last-months-with-window-closing-to-stop-spread-experts-say.html "Monkeypox emergency could last months, with window closing to stop spread, experts say") have placed a new emphasis on authentic brand identities and the values behind them. As [consumers renew their interest in the broader significance of companies](https://www.financedigest.com/more-than-twice-as-many-consumers-trust-customer-reviews-over-companies-themselves-according-to-research-from-smart-money-people.html "More than twice as many consumers trust customer reviews over companies themselves according to research from Smart Money People"), there’s an opportunity to highlight your brand’s story, what it stands for – and ultimately create a more profound connection with you audience. 3. **Using your brand as a platform for** [positive change](https://www.financedigest.com/the-meta-trends-driving-positive-change-for-financial-services.html "The meta trends driving positive change for Financial Services") It is not enough to ­just proclaim your principles in generic statements – your [brand also needs](https://www.financedigest.com/do-small-businesses-need-branding.html "Do small businesses need branding?") to demonstrate how it is putting its values into action. According to our survey, 75% of comms professionals think the coronavirus crisis [gives brands](https://www.financedigest.com/how-data-sharing-can-give-brands-confidence.html "How data sharing can give brands confidence") the chance to “serve society better and use their business as a platform for positive change”. Your content output should become a platform that explains how your brand is making a difference – whether it is by reporting on events, highlighting colleague stories, publishing a think piece on how a problem could be resolved, or giving your readership the resources they [need to take action](https://www.financedigest.com/new-uk-pm-will-need-to-take-urgent-action-on-energy-bills-ofgem-ceo.html "New UK PM will need to take urgent action on energy bills – Ofgem CEO") themselves. Sainsbury’s for example has used the news section of its corporate website to post updates about a new partnership with charity FareShare, which will allow customers to help get groceries to [people in need](https://www.financedigest.com/people-need-people-humanising-the-digital-banking-experience.html "People need People – Humanising the digital banking experience"). 4. **Become a trusted source of expertise** The pandemic has [created an atmosphere of uncertainty](https://www.financedigest.com/banning-russian-aluminium-would-create-uncertainty-about-lmes-role-rusal.html "Banning Russian aluminium would create uncertainty about LME’s role -Rusal") in almost every industry. It is therefore likely that your audience will be seeking information about the [current landscape](https://www.financedigest.com/organic-soy-products-market-outlook-current-and-future-industry-landscape-analysis-2029.html "Organic Soy Products Market Outlook, Current and Future Industry Landscape Analysis 2029") and how it could evolve. Show that you deserve their trust by creating content that provides concrete value to your audience on a range of topics that relate to your [brand](https://www.financedigest.com/2016-the-fight-back-of-the-established-brand.html "2016 – THE FIGHT BACK OF THE ESTABLISHED BRAND") ­– from reports and expert opinions to advice or guidance. It is more [important than ever to ensure information](https://www.financedigest.com/software-to-display-your-businesss-important-information.html "Software to Display Your Business’s Important Information") is detailed, accurate, but accessible enough to appeal to the knowledge levels of your varied stakeholders. Brand content from Vodafone, for instance, has recently covered topics such as making the most of tech while working from home and how smartphones could help find ways of [treating Covid-19](https://www.financedigest.com/astrazeneca-antibody-cocktail-study-shows-success-treating-covid-19.html "AstraZeneca antibody cocktail study shows success treating COVID-19"). And insurer Aviva has published engaging editorial perspectives on effective leadership while [working remotely](https://www.financedigest.com/it-departments-getting-a-bad-rap-over-remote-working.html "IT DEPARTMENTS GETTING A BAD RAP OVER REMOTE WORKING") through its podcast. [Invest time](https://www.financedigest.com/a-guide-to-luxury-property-investment-in-the-time-of-covid-19.html "A guide to luxury property investment in the time of COVID-19") in showcasing the expertise already present in your organisation and make sure you choose the best format to inform, engage and help your audience. **Foster meaningful relationships** It is crucial that comms leaders look closely at their [content to make sure they place](https://www.financedigest.com/9-places-to-find-pr-content.html "9 places to find PR content") the concerns of their readership at the forefront of everything they do. The [current situation may give brands opportunities](https://www.financedigest.com/global-sulfate-free-body-wash-market-business-opportunities-current-trends-growth-market-forecast-global-industry-analysis-by-2029.html "Global Sulfate Free Body Wash Market: Business Opportunities, Current Trends, Growth, Market Forecast & Global Industry Analysis By 2029") to foster real and meaningful relationships with their stakeholders – but it is also increasingly clear that those who don’t take action to adjust their comms strategies risk losing their audience’s trust. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---