The only constant in life is change. As a business owner, fearing or even hating change will not only make your business suffer. But, in all likelihood, cause your business to sink during the perfect storm the economy finds itself in. Many of the changes are either caused or escalated by modern consumers. These changes can cause a shift in your target market, business strategy, and even products.
Now it’s about going green. The less paper wasted, the better, even for your own company. Save the rainforest was always an admirable charity companies contributed to when galas and silent auctions were held. But since the Amazon rainforest fires in August 2019, the urgency and demand from the masses to cut paper wastage became louder. More consumers turned from single-use paper and plastic products to other sustainable products like glass or thermal travel mugs for their coffee fixes. Recycling companies started to pop up, creating recycled takeaway holders, biodegradable plastic, and more. Instead of manufacturers crying and throwing tantrums that they will be shut down and there will be job losses, they looked for alternative ways to change their production line and products. Even in the publishing industry, they had to find alternative ways of reducing their paper. Online apps are being created at a rapid pace for every type of consumer.
In conjunction with the demand for less paper and plastic, the modern target market shifted to instant gratification hungry consumers. The word wait is inconceivable. Whatever they want, they want it now. This demand caused the boom in cyberspace. Information, shopping, even social connections needed to happen at a faster pace than ever before. This forced businesses to change their production line and even marketing strategies. Moving from old fashion advertising methods to the new-age digital marketing caused a spike in competition between companies thanks to SEO methods. What once was a sideline activity in businesses, online marketing, changed to outsource opportunities. Businesses started looking for professional help from digital marketing agencies to help them stay relevant on the various social media apps. Collaborative efforts between companies and digital marketing agencies have become the norm. Just as you have to keep on top of any new developments in your niche, digital marketing agencies also have to stay on top of the developments in the cyber industry. Good thing you decided to outsource the responsibilities because keeping an eye out for not only the changes in your niche market is a full-time job. Imagine doing the same on the digital marketing front? Changes like Google FloC and the repercussions and changes to marketing strategies would have been most likely missed if you didn’t have professionals on your side.
As a business owner, you need to make a mind shift and, rather than shy away from changes, embrace them and even welcome them. New opportunities to become a purple cow can be found in these changes your consumers demand. It’s time to think outside of the box and capitalize on these demands the masses want.