How To Keep Your Business Relevant in the Digital Age

The third industrial revolution spelled disruption to many industries, especially with the integration of the  internet into our everyday lives. In order to level the playing field, businesses constantly scramble to find ways to cope with the emerging technology. Technological developments are moving at such an unprecedented rate that even  well-established companies are finding themselves struggling to keep up.

In order to stay on top of the game, businesses must have the ability to adapt to changes, and be open to technological innovation. But how can you keep your business up-to-date on the latest trends, while not wasting money or man-hours?

Social Media

One way to maintain your relevance is to engage in social media. On Facebook alone, there are about 2.23 billion active users on a monthly basis. That means effectively utilizing the platform will give you a virtual reach to a huge number of people. Many corporations are engaging in Twitter, a microblogging platform that is commonly used to announce campaign and launch marketing stints with 68 million users. Social media is great way to establish brand, cultivate customers, implement marketing campaigns and collaborate with other companies. These platform are more than just for socializing, they offer tools to know your customers and identify your profitable target market.

Many people are now relying on online reviews before buying a product or trying a service. It is important to ensure a strong online presence to answer inquiries, maintain relationship and provide customer service to your customers.

Flexibility

Traditional business alone cannot compete with companies that offer their services online; remember how Netflix put Blockbuster out of business? It is paramount to be flexible in your business,. Make sure your products are available in some digital form. If you are selling clothes, setup an online store. If you provide massages, create an on-the-go smartphone app for booking appointments. Your company data needs to be stored in the cloud, in addition to your paper archives. The ability to retrieve and store information in a few clicks gives you an advantage that wins clients, partners and customers.

Establish Your Product

Everyone can benefit from digitalization, and everyone can attain software integration. But not everyone delivers quality products. Though virtually anyone can adapt to doing business online, only a few can deliver authentic, quality products. It is an edge that no amount of online presence can substitute for. For example, Nike and Adidas shoes are profitable, not only because of great marketing in sports, but because of  undeniable quality as well. Each shoe has certain purpose and offers some sort of performance enhancement. Online branding didn’t make the product, it just helped people know it was available.

Maintain High Standards of Ethics

A lot of companies are very active in what they call corporate responsibility. It is a company’s approach to develop sustainability that delivers economic, social and environmental reforms. When people see a brand under a company that is known as greedy and selfish, they tend to stay away from it. But when a company is actively present in societal campaigns or engaging in environmental changes, consumers tend to see it as a good business. This kind of reputation can last for generations, and these kind of practices have existed for decades, but digitalization has expanded the audience for these businesses by millions of people each year.

Do Not Let Your Guard Down

The moment you start living in the past is the moment you lost the race into the future. From now on, digitalization will be in the center of virtually all businesses. Do not let your guard down, because another technological revolution is coming.