Looking at 2021 Through the Spyglass
By Peggy Tierney Galvin, director, Nadel Phelan Inc.
We have our spyglass out this quarter, and we’re looking ahead. Let’s have some good news.
Pfizer recently announced a coronavirus vaccine with over 90% effectiveness. Perhaps surprisingly, other pharmaceutical companies developing vaccines also cheered the news, since their therapeutics were also aimed at targeting the same receptor: a good indicator that their approaches would be similarly effective.
Distribution is ramping up, with local high-risk populations like nursing home residents and emergency room medical professionals able to receive the vaccination as early as December 2020. The logistical hurdles will be high, and there’s every indication that all levers of public health, private enterprise and federal and local government response will work together with singular focus to roll the vaccine out to the country as quickly as possible.
The impact on the economy of a highly effective and widely distributed vaccine cannot be overstated. Schools, restaurants, sporting and live music venues can reopen. Economists predict that there will be a checkmark-shaped recovery, since the infrastructure simply needs to be turned on again.
And what of tech?
As you already know, the tech industry has been unscathed by the coronavirus economy. Indeed, it’s been the bright spot on the NASDAQ and Dow, racing ahead on tailwinds of networking, collaboration, cloud and cybersecurity investment as all other industries update legacy systems to accommodate remote work, teaching and living. IPOs are booming, venture capital and private equity are flowing, and tech giants are still snapping up startups with tasty IP.
What will happen to this scene when the vaccine boost to the economy hits?
That’s up to you.
Now is the time to make your plan. When that rising tide comes, it might raise all ships, but let your ship be a speedboat and at the very mouth of the harbor, flag fluttering and ready to go. What are your customers’ plans? What are your partners’ forecasts for the year? Is your business positioned to accommodate the increased demand from a newly hot economy with elastic and scalable delivery? Is your go-to-market ready? Are your channel partners?
A solid PR and marketing strategy will be key to letting your whole ecosystem – prospects, customers, partners – know how you can support them in getting their business ramped back up to normal and beyond.
We’re here to develop a strategy tailored to your 2021 plans. Get in touch and we’ll work together to bring good news into the new year and beyond.