Change is inevitable, but it’s how you innovate through change that will determine your business success. If the year 2020 has shown us anything, it’s that we all need to be proactive in adapting to survive.
The industries that have been hit hardest by COVID-19 are those who were forced to physically close, but that’s not actually the reason that a lot of them won’t reopen. Small businesses make up over 30 per cent of the retail sector in Australia (ASBFEO). The impact of the pandemic has meant that the retail sector fell more than $5.3 billion (17.7 per cent) during April alone (ABS). Any small business owner reading these statistics would feel an overwhelming sense of despair, however, there is one way to salvage your small business and I’m going to let you all in on the secret. Technology, and digital marketing.
More than 60 per cent of small Australian businesses will fail in their first three years, and this is with a technological strategy. Investing in technology will bring about a meaningful and positive customer experience, it provides an opportunity for growth and streamlines business practices. Even large global franchises need to innovate and adopt technological strategies. Take Blockbuster for example; in 2000, Netflix approached Blockbuster with an offer to sell themselves to Blockbuster for US$50 million. Blockbuster’s CEO was not interested in the offer because he thought it was a “very small niche business,” (talk about failing to act proactively). As of July 2017, Netflix had 103.95 million subscribers worldwide and a revenue of US$8.8bn, Blockbuster, on the other hand, filed for bankruptcy in 2010.
Google process 4.1 billion searches per day, so if you want your business to be noticed you must invest in SEO. A strategically functional SEO enables higher search engine rankings providing your small business with credibility, resulting in traffic to the website, therefore, more customers and sales.
Social media platforms such as Instagram, Facebook, and even Tik Tok are little to no cost tools that can reach wide audiences frequently. Social media also creates brand personality, acts as a two-way mode of communication with customers, and encourages positive reviews once again boosting the credibility of your business.
A website is often the first glimpse of your business that potential customers see. First impressions matter, if you have an engaging, personable, and informative website consumer are far more likely to believe in your product or service. Chatbots are also an innovative asset to any business website, providing customers with instant answers to their questions will build transparency and a subconscious positive association with your business.
The theme here is digital, it is no longer just the way of the future but rather the current times. Advertising your business to the right demographic is essential for gaining the right customer base, right? If you feel overwhelmed by the prospect of going digital, it’s time to invest in the right people. Hiring an external digital agency can not only implement your technology but they can create individual strategies to better position your business in the market. You have a business accountant who takes care of your finances, so why not invest in a digital agency to boost your business. Digital agencies help you implement and use technology to engage consumers and set your business apart from the competition. Digital agency designers have the artistic and technical expertise to create digital solutions that appeal to consumers in a way that will have your business thriving post-2020.
Kaysie Michelmore, Creative Copywriter & Publicity, EastDigital