A recent article in MM&M outlined the reasons why healthcare marketers should adopt an “exponential mindset” amid the COVID-19 pandemic. Developing an exponential mindset requires that they identify which part of a rapidly shifting curve they are on and adjust accordingly.
Exponential phenomena tend to operate on a three-part S curve that starts out with a slow climb and minimal progress, followed by sudden acceleration and, just as rapidly, a flattening out back to where it started. A classic example of this is a campaign that goes viral overnight, with a few people engaging and seeding a social media-enabled spread to a much wider audience.
In times of uncertainty, an exponential mindset will allow companies to recognize that stakeholders face an unknown future. At the same time, there is an element of “fortune telling” in making plans for the future that may be markedly different from the present.
Scenario planning will begin to become increasingly vital. For instance, lockdowns could impact audience participation, and supply-chain issues may limit drug availability. Therefore, companies must consider various scenarios. An exponential mindset will enable them to adapt to a changing environment and achieve success during this challenging time.
