Embrace societal and industry changes for your business growth!
Businesses tend to see external changes as a threat. A change could easily disrupt business processes and profitability. For example, the emergence of TikTok as a social media platform will shake up current social media marketing practices, and it may require you to adapt your own marketing.
But changes shouldn’t always be seen in this way. You could react positively to changes and attack them as opportunities, so your business can go even further.
Change exposes market gaps
Changes across society, or within specific industries, can expose gaps in the market and new client demands we never expected. If we think back to the height of the pandemic, changes to the way we lived our working lives exposed a need for products and services we never thought we would need — or we needed more of.
For example, when many companies switched to remote working, they needed platforms and software to enable them to work from home without putting security at risk or to prevent data breaches. Some companies will have identified these needs and changed their marketing of such products to the modern remote working business.
Or to give another example, the pandemic exposed a new gap in the market for face masks which many brands tried to target. And some had more innovation than others. Those fish-tank-like helmets never really caught on, did they?
These are societal changes — just like an increased use in TikTok — but there could be industry-specific changes to target, such as legislation changes, that open up new possibilities and services.
But are you willing to explore them?
It’s very easy to sit back and watch what everyone else does before making your move. To cash in on change and turn changes into opportunities, you need to be prepared to go for it before the rest, or simply react quicker. Just ask all those Bitcoin owners who bought Bitcoin when it cost just a few dollars.
To achieve this, you will need someone who is constantly looking at your industry news and what’s happening in the wider community. Maybe even regular meetings about change and opportunity. You’ll also need a marketing team that is flexible enough to efficiently switch up your campaigns when required. This is known as flexibility in marketing.
If you want a team of digital marketers on your side who can tailor campaigns, monitor them and implement changes when needed — you need WEBPRO. Call us for more information about any of our online marketing services. We want to explore those new and exciting opportunities together!
Other reasons to be a business that shakes things up
Transforming changes into opportunities might be primarily completed for bigger profits but being the company that goes against the status quo can do wonders for your brand recognition.
Consumers and clients remember business brands that offer something unique or something not available elsewhere. This means they could go looking for you in the future, to see how else you are shaking things up.
Communicating with clients during changes
If you are responding to changes in society or closely aligned with your industry, it is important to keep your current clients updated. They could read about something that affects them or their own business and start to worry.
Stepping in with factual information and a reassuring tone can be all that is needed to stop them doubting your business. It also shows you care about them at all times and can increase their brand loyalty to you.
What happens if you don’t adapt to change?
If you don’t embrace change, you might miss out on lucrative opportunities for your business and clients. However, you might also get overtaken by other brands that decided to embrace changes and adapt their marketing campaigns quickly.
Having regular in-house discussions about potential changes and an industry-specific marketing team remains the best recipe for success. Contact WEBPRO if you want flexible marketers who are ready to go the extra mile fast to explore emerging opportunities.
Recap: Changes can threaten businesses and their bottom line, but with planning, brainstorming and a flexible marketing team on hand, they can be opportunities. Seize the chance to explore an emerging market because of society behaviour or industry changes. It could increase profitability and your brand recognition for long-term success.
P.S. Changing your marketing campaigns may require your business to keep a reserve of funds for ad-hoc marketing services.