We talked about social movements a while back and thought that was the biggest hit to Hong Kong. We were so wrong. Like everybody else, we did not expect the virus nor the magnitude of its impact.
Hit, but never defeated.
All of us know what COVID can do to businesses – destroy, demolish, and derail. As for Dash Living, some of our local partners couldn’t survive either. Though with adaptive strategies & nimble operations (be it sales, marketing, or tenant services), we were able to stand tall. How? As you might ask.
It’s not like we had already survived another pandemic as a company, but we have definitely gone through some very tough times during social unrest in Hong Kong. We tapped into what we had gone through & prepared — from the developed models & tools to adapt, to pricing strategies, CRM development to help with conversion, lifecycle marketing optimizing every step into the funnel, and more. We understood the pain of rate adjustments since 2019, so we continued to work with our stakeholders & partners. We also have amazing people who supported the company, so we were able to move quicker than most to ensure our grounds are at least solid enough to get us through these tough times.
We believe that even though the current is against us, we will always be able to find our rocks to hold onto. Be nimble, trust your people, then stand back up and fight.
Nobody planned for COVID, but we had all the bullets when it did.
To be proudly honest, we were kind of ready since day 0. We were the movers & shakers in social unrest times, leading the pricing & promotion strategies back in 2019, so we had a bit of taste to rapid changes & nimble sales & marketing strategies.
Even though the magnitude of COVID was not known during Q1 2020, we had solid defensive moves ready-to-go. Like FMCGs where they trade discounted stocked goods with cash, hotels which tapped into staycations, we, as a rental business, tapped into the local market and kept our pricing competitive, at the same time strengthened marketing to highlight our USPs. As a result, we were able to hit 90%+ occupancy in the first half of 2020 to keep us afloat.
Getting COVID ready isn’t merely about crafting monetization strategies fitting for a pandemic. On the customer side, we had planned virtual viewings for our key portfolio in Hong Kong and implemented most within the first half of 2020, so our funnel continued to flow and remain unbroken. When it comes to service, not only we had thorough cleaning & sanitizing measures, we have even gone into watering essential ducts for our serviced tenants regularly.
Whether it’s looking inwards or outwards, getting COVID-ready is essential to survive and thrive in an ever-foggy state of the economy.
Taking flight in a greenish-purple smoke-shrouded future.
Coming into wave-3 in Hong Kong, we are taking even more steps to tackle, and re-imagining a world where COVID could become part of our lives. We are pipelining even more rapid digital transformations from MarTech to “Accommo-Tech”; testing, adapting, and structuring more tools & flexible ways of work; investing more time & effort into shaping our brand, as well as shaping our tenant community on how to evolve, engage & embrace into a world of unknown.
For brands out there, we encourage you to take note of the successes you are blessed with, however big or small they are, take care of your people and your customers, and continue to thrive with all that you have.