How do you ensure your company’s survival in such a diversified world?
To adapt your company to the new way of doing business and survive in such a diversified world, it is essential to address a series of key aspects that reflect the changes and demands of the contemporary business environment.
I would like to emphasize that the future is already present. I remember how in the 1980s, the year 2000 seemed distant, and there were even those who predicted the end of times by that date. In the 1990s, computing began to dominate markets, becoming almost mandatory for any company that wanted to show modernity. However, adaptation was inevitable. The bulky accounting offices were reduced thanks to technological advances, with computer servers taking on tasks that previously required a lot of personnel. The famous Y2K generated fear, but it wasn’t the apocalypse foretold. With the new century, the internet grew exponentially, although only the most prestigious companies could have a web presence.
E-commerce began to take shape slowly, although distrust towards online shopping was still palpable. I had the opportunity to participate in e-commerce projects in their early stages, and seeing how it evolved was gratifying. We are in the information age, where the amount of data available makes deception difficult. In this context, reading becomes essential to develop a critical sense and avoid being manipulated.
The problem extends to businesses, where promises of quick success abound. However, adaptation is key to survival. The pandemic accelerated the shift to online businesses, where now it’s the customers who hold the power. The old way of doing business no longer works; it’s necessary to adapt to the new reality.
This dilemma seems to have infiltrated the business world, from large corporations to small businesses. Exaggerated promises and seductive sales strategies abound. We find ourselves inundated with digital marketing experts, specialized design agencies, and personal development gurus who assure instant wealth in exchange for their advice. We are offered the illusion of millions of visits and extraordinary sales, accompanied by constant pressure to adopt aggressive marketing strategies on all imaginable social media platforms: Facebook, Instagram, TikTok, and more.
We are insisted on the need to have a perfect website, adaptable to all platforms and equipped with cutting-edge technology. We are sold the fantasy of e-commerce that generates income while one relaxes on the beach, enjoying a piña colada and controlling profits from a smartphone. And we cannot forget the latest trend: artificial intelligence, presented as the ultimate solution to all our problems. We are promised that this technology will think for us, work for us, and keep us at the forefront of progress.
We are already seeing how some companies boast of using artificial intelligence to optimize their processes. Courses on the use of this tool are booming, and many are obtaining certifications in its management, even for free.
With so many alternatives available, what path should a company follow? Where should it head? What tools are necessary to stand out in this dynamic and changing market? How can one navigate amidst so much competition? How much budget is required to invest to obtain visible results?
First and foremost, it is essential to adopt a clear and direct approach, as wisdom lies in simplicity. We must recognize the tangible realities around us that demand our attention. Technology is advancing by leaps and bounds; this year has surprised us with advances such as artificial intelligence, and the launch of ChatGPT5 is expected by the end of 2024, promising impressive innovations. Additionally, Apple’s recent glasses introduce a new way to experience a full computer through a wearable device.
It is crucial to understand that the 2019 pandemic has radically transformed the way business is conducted, accelerating the transition to a digital environment. The old economy, characterized by active customer pursuit, traditional marketing, and face-to-face meetings, has given way to a new paradigm where customers hold the power. In this context, companies must adapt to meet the demands of an increasingly intelligent and empowered market.
Archaic methods of the old economy are no longer effective in this new landscape, as consumers have acquired a higher level of discernment. To survive and thrive, companies must understand the following:
- Expansion based solely on referrals is no longer sustainable.
- Limiting oneself to a local market means missing valuable growth opportunities.
- The only way to grow is to establish a solid presence on the Internet; any other approach results in a waste of time and resources.
It is essential to recognize that the virtual world presents dynamics and challenges different from those of the physical world. Adapting to this new reality is essential to ensure relevance and competitiveness in the current market.
A renewed marketing method has been introduced. A common misconception is to believe that the sales dynamics in the NEW ECONOMY follow the same guidelines as in the OLD ECONOMY. However, this assumption is far from reality, as both represent radically different markets. In the previous paradigm, companies actively pursued their customers, while in the NEW ECONOMY, it is the customers who seek out the companies.
It is crucial to understand that the knowledge and practices rooted in the OLD ECONOMY are not transferable to the new scenario. Obsolete sales strategies have no place in this context, as today’s consumers are discerning and take the initiative to seek out and select the company with which they want to interact. Regardless of the efforts made, hires conducted, or financial investments made, no action will be effective until a mindset change occurs.
Are we in agreement up to this point? The imperative first step for any company is to shift its focus. While paid advertising can be helpful, it does not represent a definitive solution. It is crucial to understand that it is not simply about guessing what to say or being a marketing expert, but about understanding how to be discovered and capture the customer’s attention in the digital environment. The process resembles the following: Mindset shift + Generating relevant content + Being found and highlighted + Attracting new customers.
This approach is known as Internet Psychology. It involves leveraging the psychology of the digital environment to establish connections, build trust and leadership, so that potential customers feel inclined to follow us. However, if these actions are approached mechanically to simply occupy a space, satisfactory results will not be obtained.
The key lies in creating RELEVANT CONTENT. First and foremost, it is important to understand the difference between conventional content, which is published as a formality and tends to be ignored, and relevant content, which is shared with the aim of standing out and being discovered, thus becoming an effective sales tool.
There is no need to allocate large budgets to advertising or waste resources on fruitless campaigns. Nor is it necessary to chase customers or convince them. Relevant content saves time, as it increases visibility on search engines and social networks, expanding the company’s reach without the need for large advertising investments.
Why is relevant content effective in sales? Because content that ranks on Google also gains visibility on social networks. Did you know that there are over 3.8 billion searches conducted daily on Google? Once relevant content creation is mastered, the growth potential becomes unlimited.
What advice can we offer to those companies that feel lost regarding their online presence? Should they establish a strategy and a plan? Create a website? Engage in social media? Generate content? Undoubtedly, all these actions are fundamental. They must take total control of the matter, showing genuine interest in it. In the past, webmasters used to be seen as second-rate individuals, but today being a webmaster involves much more than just knowing the code to develop a website. It is about having a clear vision of how to achieve high visibility on the internet, closing all gaps until success is achieved.
It is time to stop underestimating web designers and computer scientists, as computing dominates the modern market. In some companies, directors or managers don’t even consider it important to meet with the web designer, delegating everything to the computer scientists. However, they fail to realize that the company’s reputation is at stake, nor do they understand that the old economy no longer works and that only those companies that adapt to the new market economy will survive.
We can cite several examples of large companies that did not reinvent themselves and failed. For example, Blockbuster, a leader in movie and video game rentals, was displaced by Netflix. The same happened with Nokia, which being the leading mobile phone manufacturer, could not maintain its position against the rapid evolution of smartphones. Their resistance to adopting more advanced operating systems like Android or iOS led to a significant decrease in their market share and eventually to the sale of their mobile devices division to Microsoft. Another case is that of Kodak, famous for its dominance in the photography industry, which could not anticipate or adapt to the shift to digital photography. Despite being a pioneer in digital technology, it lost its leadership position and filed for bankruptcy in 2012.
So far, we have observed that the pandemic has had a transformative impact worldwide. To boost your company’s growth in this new context, it is essential that you position yourself effectively in the digital world. This involves adopting a virtual entrepreneurial mindset and strategically employing intelligent content, making the most of all the tools available to you.
Now, what can your company do to adapt and thrive in this new scenario? Here are some key recommendations:
Professional website: A solid online presence begins with a well-designed and functional website. It should be easy to navigate, optimized for mobile devices, and contain relevant information about the company, its products or services, and how to contact them.
Strong brand image: Your brand image is what sets you apart from the competition. You should develop a distinctive logo, a color palette, and a consistent visual style that is used in all your online and offline marketing materials.
Digital marketing strategy: Define your marketing goals and target audience. Then choose the most appropriate digital marketing tactics to achieve those goals, which may include SEO (search engine optimization), online advertising, content marketing, email marketing, etc.
Social media presence: Being active on social media allows you to connect with your audience, build relationships, and increase brand visibility. Choose the social platforms where your target audience is present and share relevant content regularly.
Intelligent content: Quality content is essential to attract and retain your audience. Create relevant and useful content that addresses the needs and questions of your target audience. This may include blogs, videos, infographics, tutorials, etc.
Constant analysis and adjustments: The digital environment changes rapidly, so it’s important to constantly monitor your marketing efforts and make adjustments as necessary. Use analytics tools to measure the performance of your campaigns and adjust your strategy accordingly.
Adaptability and continuous learning: Stay abreast of trends and changes in the digital world and be willing to adapt and learn continuously. Adaptability is key to long-term success in the online world.
By addressing these elements comprehensively and coherently, a company can increase its online visibility, attract new customers, and stay relevant in the new way of doing business.
If you would like to receive advice and support or rely on any of the elements for the success of your company, we would be delighted to help you. Webbus Marketing LLC
By Nestor Castillo, ForAllTechNews Director