What It Takes To Update an Aging Business
by Dan Munson
Technology is changing everything. Every business on earth will need to adapt or die. This is especially the case with older businesses that didn't come up in the recent startup boom. They don't have as much experience with technology, social media, or the new ways of marketing online. Here is what you need to know about how to update your aging business and prepare it for the future:
Security threats are real, whether you run a tiny business or a Fortune 500. This is because of the secret sauce you have. If your process is leaked to the public, any company would gladly pay the black market a hefty price to learn how to take what you do and apply it to their business, especially competitors.
Furthermore, every business has a customer list. If the recent news have taught us anything, it is that personal information about consumers is valuable. It doesn't even have to be their credit card information, it could just be their hobbies, interests, and purchase tendencies.
One of the ways that hackers will target you is through phishing. This is a method where they send an email and pretend to be someone else. They spoof the end address and send a fake link that has malware. Once this infects one computer on your network, they can access the rest and get your data.
If your data is leaked, you could be in big legal trouble. And the costs associated with fixing a data leak are much more than preventing them in the first place. So make sure your security protocol is updated. Get new servers with modern frameworks. Install a firewall. And hire an IT firm or someone internally to monitor your network. That way if any suspicious activity pops up you can stop it before someone destroys or leaks your data.
Consumers today want to see their favorite brands embracing social media. You may think that you don't have time for it. In reality, you can't afford not to use it.
Being on Facebook, Twitter, and Instagram is a great start. You should post success stories of your customers, new promotions, and your mission statement so people can get an inside and authentic view of your company. This will go a long way in getting attention to your company as well, which is becoming harder to get each passing day with so much information online and short attention spans.
Long gone are the days where you had to do everything yourself. In today's world, you can leverage AI and other technologies to automate many processes in your business. This includes marketing, email, and even inbound calls. By creating scripts in advance for every part of your customer facing assets you can remove the busy work that costs you time and money in terms of extra labor and repetitive tasks. Then, you can reinvest the profits you save into other things.
Get External Help
Sometimes, it is worth it just to save your time and effort and hire external sources to manage the updating of your core processes. This is especially the case for things like marketing, that take time to write emails, track them, and analyze the results. If you want to free yourself up to focus on the higher level aspects of your business, hiring an email marketing agency can be a smart move.
If you want to succeed in your industry, you cannot live by the rules of the old world. Today's digital technology is disrupting every industry and even the giants in your market are not safe. So it is vital that you adjust now and plan for the future. If your business is aging, the good news is that you realize it now. Then, you can simply apply the tips above and position yourself to dominate your industry going forward.