After watching the Google Partners Livestream, we were able to gather some of the important tips for companies to help their business this year. Technology is now at the heart of business, and everything around us is connected to the web. As trends are continually impacting industries, it is important to follow them in order to still be in business in the near future. Many companies are closing their retail stores, but many people do not realize that they are doing this to enter the digital world. Online shopping has become so prevalent that stores are closing down in order to put their focus on where consumers spend their time.
Traditional Business Models are Being Challenged
With changing consumer behavior, our industries are being challenged. Traditional business models are changing, and we must be aware of technology shifts in our field. For example, Blockbuster used to be the place that everyone bought their movies. People took their car to a location to browse through VHS and DVDs. Nowadays, movies can be streamed through TVs, laptops and cell phones with just the click of a button. Now people are using companies like Netflix, which allows you to watch shows and movies without leaving your couch. Talk about a business model that changed pretty rapidly within the past 15 years!
Consumer Behavior is Changing
Consumers behavior is changing along with technology. They have 24/7 access to mobile devices, which means that they have access to an unlimited amount of information. So what does this mean for companies? It means that consumers are more informed and aware, creating higher expectations. This is creating more pressure for companies to meet the demands of consumers. All companies today are being challenged, and it is up to them to do something to stand above the competition.
Retail is Changing in the Digital Age
Retail visits are declining as more business moves to eCommerce. From 2013 to 2016, retail visits dropped in half, which is a significant loss. So what can your business do to survive in this new digital age? Instead of using the old mantra “Do whatever to get the customer to the dealership,” imply a new mantra, “Do whatever to bring the dealership to the customer.”
How Can I Prepare for the Digital Future?
One way to keep up with the digital age is to keep ad spending in sync with consumer behavior. Are you using ads on platforms that have been surpassed by digital ads – such as TV ads? Another thing to consider is being open 24/7. Making ads profitable is key by knowing when consumers visit your company. For example, consumers may visit a lawn service company mostly in the Spring and Summer months, which means your companies ads should run according to the influx of customers. Being available for your customers when they are looking for you is a crucial way to get customers. If you are not available at the time your customers need you, they will look for another company in the same industry that is available. Other things to incorporate to make your business tech-savvy in the future are: keyword research to target your customers, using ad extensions and forms, creating a great mobile experience and using a Google my Business page.
From the Google Livestream, we learned that technology is changing the way we do business. Businesses must keep up with the times in order to engage more customers and generate more sales. Since 1 in 3 adults watch at least one Youtube video per month, it’s safe to say that engaging online with customers – especially through social media outlets – can help to increase your website traffic. To make sure your company is up-to-date with the digital world in 2017, contact 3PRIME today!
If you wanted to see what Google had to say, watch the Livestream below. Be up-to-date with the latest in business and find out how to connect your business to the ever-changing world.