DIGITAL TECHNOLOGY has impacted the business landscape at a scale last seen during the industrial revolution, and if you haven’t already, it’s time to make the most of it …
The digital revolution has changed everything. New opportunities and challenges are emerging every day. Google allows you to answer almost every question that pops into your head. Social media allows you to connect with like-minded individuals around the globe. E-commerce allows you to sell products to a global marketplace. Information is freely accessible, people are instantly connected, and markets are globally available.
It’s hard to imagine a day without your smart phone, Wi-Fi or social networks. Smart businesses have connected the dots with this technology and are increasingly finding new and transformational ways to use it to benefit their business.
It’s now possible for a teenager in her bedroom to start a group on Instagram, have thousands of followers worldwide and sell them products; all without spending any of her own money up front.
Individuals as young as 20 are making six figure incomes from their ideas. It’s not just about the technology, it’s also a mindset change. They are succeeding because they are doing business like it’s 2018 rather than getting stuck in how things were done pre-2008.
The modern Brit now spends 251 minutes a day glued to their smartphone. They watch videos, read blogs, follow people on social media and buy products at light speed. They make buying decisions based on what they see and hear on that little screen that’s forever in the palm of their hand.
Digital technology has impacted the business landscape at a scale last seen during the industrial revolution, and if you haven’t already, it’s time to make the most of it.
Here’s six ways you can make your business more powerful in the digital age:
Be “Content Gorge Ready” – When consumers discover a brand, they want to read, watch, listen and interact intensely on their smart phone – it’s called a content gorge or a brand-binge. If a person can’t easily find 7 hours of content about your business, you are not ready.
Create Signal, Not Noise – Businesses that succeed are clear in their communication, they are repetitive, and customers learn to spot them. You might get a little tired of sharing information about what you do for years at a time but many of your customers are only just catching on.
Make Money While You Sleep – Set your business up in such a way that it’s ready for business at any time of day or night. Have products available on Amazon, allow people to buy from your website, put videos on YouTube that explain what you do. Once you create digital assets and publish them online, you’re in business 24/7.
Guard Your Reputation with Your Life – Anything that ends up online will stay there for years. Assume that “you are who Google says you are” and if you want to be in business for the long run, Google better say good things about you. Deal with complaints quickly, apologise when you get something wrong and be sure negative reviews don’t come back to haunt you.
Use Video to Reach More People – The human brain thinks video is just as real as a face-to-face interaction (that’s why we feel we know celebrities). Your smartphone has everything you need to create engaging video for people to watch and learn about what you do.
Have Good Digital Habits – You wouldn’t open up your retail store randomly every other day, so why treat the digital environment differently. Post regularly on social media, update your website and be as diligent with the online world as you are with your physical office or store.
Digital technology is reshaping the business landscape and you can either embrace it or risk getting left behind. Those that embrace it will have no shortage of opportunity in the decade ahead.
Article by Daniel Priestley, finalist in 2018 Business Book Awards for his book, 24 Assets: Create a Digital, Scalable, Valuable and Fun Business That Will Thrive in a -Fast-changing World, published by Rethink Press. The Business Book Awards 2019 is now open for entries.
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