A lasting, frankly stunning shift is taking place that will change the way business is conducted. A major aspect of this shift is in the way businesses communicate with consumers. Despite consumer migration towards different digital socializing, online researching, and virtual purchasing behaviours, far too many companies are essentially ignoring the changes that are taking place.
Even long time mainstays have been caught up by not keeping up. Video giant Blockbuster ignored the new technology and had Netflix decimate its business. Photography giant Kodak failed to capture profitable market share as it watched the world switch from film-based cameras to digital technology. Both were very foreseeable outcomes.
Companies need to adapt to shifting demographics and rapidly changing consumer behaviour rather than hoping they will simply go away. The most significant shift in recent memory has been the quick adoption of social media platforms, meaning that the way companies do business must also change. With that in mind, here are 10 reality checks that you might not want to hear but must face if you’re going to use social media for business.
- Companies not using social media will die off.
It’s no secret that in order to generate new business, marketing should take place where consumers will take note of it. Yet still, over the last 15 years, I’ve witnessed a surprising number of businesses that absolutely refused to go online. I attribute this to two main reasons. First, they’re used to doing things the “old“ way and since that’s what always worked for them, they haven’t felt the need to change. The second reason is more primal: Fear. Not only is the Internet a world unto itself, marketing in this new area (especially the social media realm) can be scary and requires a huge shift in thinking about marketing. That shift is a step that so many businesses won’t make in time to save themselves. Companies not using some form of social media, whether a popular platform like Facebook or a location-based gaming app like Foursquare will die off. Companies should embrace new media and the nuances that come with it, not fear it. Mistaking this trend for a fad would be a false start.
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